r00lish67
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Post by r00lish67 on Jun 4, 2017 19:40:20 GMT
Best post of the week by yangmills IMO. Yes, an excellent post, but just one quibble. Yes the borrower is going to be suspect if he has to pay these high rates. But that would not matter so much if the asset was properly valued and the LVR was low enough. IMO this is where Lendy have gone wrong. But if a borrower only required funds held against a reasonable ratio of a tightly valued comparable asset, why would they use Lendy? Other, cheaper, sources of financing would then be available to them. I also enjoyed the post, and do suspect that Lendy will introduce a discounting mechanism into their platform in the near future, as I think soon they will struggle to fill loans on the primary market. This will kick the can down the road slightly as it will allow investors to feel 'safer' again, but ultimately I suspect the level of risk involved in this type of lending is something that many investors are just not going to be comfortable with in the long term. Hopefully it'll then eventually re-balance slightly into it's smaller niche again, and sensible investors will be able to have their questions answered and invest based upon a sufficient grounding of the facts. Or, if they've extended themselves too far, and now need their larger investor base...well, that'll be interesting.
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sg
Posts: 68
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Post by sg on Jun 4, 2017 19:41:09 GMT
To some extent I agree with much above but I believe the state of the SM added to Lendy's lack of comms and other changes (INPL, T&C, etc) will affect Lendy as a whole rather than just the SM. Look at DFL028 mentioned above, a year ago this would have had at least 2500 investors today it got 1100. This affects Lendy's whole business and hence everybody lending through them, extra strong DD or not. In my opinion they are attempting to grow their business too fast and taking the risk of bring it and us down with it.
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spyrogyra
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Post by spyrogyra on Jun 4, 2017 19:41:22 GMT
So what happened to "the most successful platform in the world" ? Shouldn't success be both for the lenders and the platform and not just for the platform?
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spyrogyra
Member of DD Central
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Post by spyrogyra on Jun 4, 2017 20:09:05 GMT
CD, after reading your comment, an old joke came to my mind ( no offense to you!!! ).
As it is an old one, it's about a blonde ( nowadays we do not specify colors, do we?)
So she went on the top terrace of a skyscraper and while looking down, she fell. When falling, she was able to see the floor numbers. So she flew by 100, 50,20,10.
At 5 she encouraged herself by saying "So far so good".
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Liz
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Post by Liz on Jun 4, 2017 20:14:51 GMT
You aint seen nothing yet if the Labour party wins on Thursday!
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spyrogyra
Member of DD Central
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Post by spyrogyra on Jun 4, 2017 20:31:57 GMT
Oh, yeah? You say we will fly down from 5 to 0 much faster?
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
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Post by ozboy on Jun 4, 2017 20:53:35 GMT
Oh, yeah? You say we will fly down from 5 to 0 much faster?  <- EDIT: Sorry, entered against wrong posting, I'm getting tired and emotional!
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Jun 4, 2017 20:56:53 GMT
You aint seen nothing yet if the Labour party wins on Thursday!
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Liz
Member of DD Central
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Post by Liz on Jun 4, 2017 21:20:00 GMT
Oh, yeah? You say we will fly down from 5 to 0 much faster? 5 to 50 maybe!
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
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Post by skippyonspeed on Jun 4, 2017 21:51:50 GMT
You aint seen nothing yet if the Labour party wins on Thursday! I think we are more likely to see little pink squealers flying.......unless Tessa shot herself in the foot by choosing not to join in the live mass debate last week.....even then I can not see Labour getting a majority. Edit Just checked out the justbookies.com and I don't think I will be betting on this year's result. I was surprised to see you can get just 66/1 on Nigel Farage being selected as next..........Conservative leader!
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Post by lendinglawyer on Jun 4, 2017 22:17:56 GMT
I make no representation at all about my political leanings but I did enjoy the campaign slogan "make the beginning of June the end of May" when I first saw it and it hasn't got old!
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Jun 4, 2017 22:22:45 GMT
I think we are more likely to see little pink squealers flying.......unless Tessa shot herself in the foot by choosing not to join in the live mass debate last week.....even then I can not see Labour getting a majority Labour not getting a majority would be the worst result - the possible resulting coalition makes my shudder/// Quite a good possibilty then bearing in mind who won this time!!!!!!!!! 
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 5, 2017 7:18:42 GMT
The stagnant SM is a symptom not the problem itself, which IMO is the current and impending defaults. Once Ly lose their coveted "no investor has lost money" status there will be a rush to the exit which will make the current situation look rosy by comparison. Possibly Ly can see this coming but are sanguine about it. All they have to do is stop or severely reduce new loans to the level of lender demand and pocket the interest on the loans on the SM. This should bring in enough for two guys to retire on in some comfort.
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fp
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Post by fp on Jun 5, 2017 11:13:47 GMT
The stagnant SM is a symptom not the problem itself, which IMO is the current and impending defaults. Once Ly lose their coveted "no investor has lost money" status there will be a rush to the exit which will make the current situation look rosy by comparison. Possibly Ly can see this coming but are sanguine about it. All they have to do is stop or severely reduce new loans to the level of lender demand and pocket the interest on the loans on the SM. This should bring in enough for two guys to retire on in some comfort.The currently overwhelmed SM should be providing a steady little income stream for Ly currently, a quick fag packet calculation of approx £1500 per day in unpaid interest, why on earth would they want to reduce it? However, I do feel that the unknown outcome of Wednesday's war of words final is having some bearing on it currently, and it will be interesting to see how the results affect the SM both here and elsewhere.
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elliotn
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Post by elliotn on Jun 5, 2017 11:23:54 GMT
Dfl25 was the 1st recent 12% loan not to fill as were the latest tranches of mid-development Herc & Arby and there are now hundreds of thousands of all three available on the SM. If that was in anyway linked to the SM and investor confidence then it would be a myopic owner that would be happy to save one & a half grand at the expense of not being able to fill an ever increasing pipeline.
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<- EDIT: Sorry, entered against wrong posting, I'm getting tired and emotional!
