garfield
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Post by garfield on Oct 12, 2017 4:19:04 GMT
PBL123 was repaid yesterday evening (capital only) if anyone missed it.
This brings the total repaid since Oct 2 to over £10.5m.
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Post by picanto on Oct 12, 2017 11:13:53 GMT
PBL123 was repaid yesterday evening (capital only) if anyone missed it. This brings the total repaid since Oct 2 to over £10.5m. Anybody know if the provision fund was used to make up the difference between the auction sale price and the loan?
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garfield
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Post by garfield on Oct 12, 2017 11:56:03 GMT
PBL123 was repaid yesterday evening (capital only) if anyone missed it. This brings the total repaid since Oct 2 to over £10.5m. Anybody know if the provision fund was used to make up the difference between the auction sale price and the loan? Yes, it was. Here's a comment dated Sep 15: "The property was sold at auction on 14 September 2017 for the sum of £1,000,000 and we will now be pursuing the borrower for the residual debt outstanding. Where the property sold for less than the capital sum, Lendy intend to make payment of the shortfall from its provision fund. All accrued interest and bonus accrual payments will only be payable on successful enforcement action being taken. In light of the fact that the property sold for less than the original value provided, we will be reviewing this with our professional advisors."
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copacetic
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Post by copacetic on Oct 12, 2017 12:11:17 GMT
The SM has fallen sharply this morning to £1.1m* down from £2m. I wonder if the capital repaid from PBL123 has stayed on the platform in the hopes of the birthday prize giveaway or has something else happened?
*Edit: by far the lowest it's been since June
Edit 2: I'll answer my own question as I see there have been a number of updates: PBL084, PBL161, PBL166, PBL189, DFL016 and DLF017 were all suspended from trading and their available amounts disappeared from the SM. That's one way to clear the secondary market I suppose. It looks like the strategy of buying junk loans with the idea of offloading them onto the secondary market after a few months is dead!
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