GeorgeT
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Post by GeorgeT on Apr 2, 2017 21:57:39 GMT
So are people finding about wk to 1.5wks to sell the castle? Maybe before the weekend but its dropped 100k today alone so i reckon anything listed before Friday should probably have gone now. (Guess based on how my parts listed moved down the queue on Fri/Sat - cancelled each night but would have been 80-100k nearer front if left) Actually it's a lot slower than that. Loan parts currently at the front or near the front of the Castle queue were listed 1 week ago - 26/3. I have some loan parts listed for sale 1 week ago on 26/3 that are just reaching the front of the queue. e.g. my first loan part listed 1 week ago is finally part sold tonight - 26/03/2017 3 months £100.00 £2.83 11% 47.0% £0.00 Not available Stuff listed middle of last week will still be a long way off the front, although someone bought £50k of it today which helped a lot. I would add that some Castle parts I listed on 9/3 took 3 weeks to sell. The queue only got moving this weekend.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 2, 2017 22:50:55 GMT
Maybe before the weekend but its dropped 100k today alone so i reckon anything listed before Friday should probably have gone now. (Guess based on how my parts listed moved down the queue on Fri/Sat - cancelled each night but would have been 80-100k nearer front if left) Actually it's a lot slower than that. Loan parts currently at the front or near the front of the Castle queue were listed 1 week ago - 26/3. I have some loan parts listed for sale 1 week ago on 26/3 that are just reaching the front of the queue. e.g. my first loan part listed 1 week ago is finally part sold tonight - 26/03/2017 3 months £100.00 £2.83 11% 47.0% £0.00 Not available Stuff listed middle of last week will still be a long way off the front, although someone bought £50k of it today which helped a lot. I would add that some Castle parts I listed on 9/3 took 3 weeks to sell. The queue only got moving this weekend. Fair play, it was a guess but a flawed one as I forgot to factor in all those doing the same as me and cancelling sales. Still my basic point was right, slow and then acclerated over weekend.
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vmail
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Post by vmail on Apr 3, 2017 19:26:45 GMT
Am I reading this correctly but the only people concerned are those who expect to be able to bin **** loans off on mugs whenever it suits them despite good loans also being available to said mugs? If that's the case, I know who the real mugs are... Is the c word no longer "Inappropriate Language"?
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Post by lendinglawyer on Apr 3, 2017 19:43:18 GMT
Am I reading this correctly but the only people concerned are those who expect to be able to bin **** loans off on mugs whenever it suits them despite good loans also being available to said mugs? If that's the case, I know who the real mugs are... Is the c word no longer "Inappropriate Language"? Has this c word ever been "inappropriate" to anyone but the most sensitive of flowers?
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vmail
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Post by vmail on Apr 3, 2017 19:55:17 GMT
It was on the 11th October.
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elliotn
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Post by elliotn on Apr 4, 2017 3:55:34 GMT
Am I reading this correctly but the only people concerned are those who expect to be able to bin **** loans off on mugs whenever it suits them despite good loans also being available to said mugs? If that's the case, I know who the real mugs are... Is the c word no longer "Inappropriate Language"? Mods typically prefer a post to be reported rather than re-posted (I have self-redacted). May I proffer a substitutive 'crud'? Softer - so may ruffle less petals - but still maintaining OP connotations. If it helps, I tend to stick to poo.
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Liz
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Post by Liz on Apr 4, 2017 10:50:12 GMT
Is the c word no longer "Inappropriate Language"? Mods typically prefer a post to be reported rather than re-posted (I have self-redacted). May I proffer a substitutive 'crud'? Softer - so may ruffle less petals - but still maintaining OP connotations. If it helps, I tend to stick to poo. Which word? Surely not  ! My kids hear that word daily in the likes of Simpsons and Futurama.
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oldgrumpy
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Post by oldgrumpy on Apr 4, 2017 12:13:24 GMT
Parallel conversation on the ghost loans thread!
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Post by yorkshireman on Apr 4, 2017 12:55:24 GMT
Which word? Surely not ! My kids hear that word daily in the likes of Simpsons and Futurama. today's commonplace usage of words considered wholly improper less than a generation ago is inevitable. It's linguistic evolution, innit. Not necessarily IMO. I’m no prude having worked alongside and employed and managed individuals who were as rough as a bear’s backside, whose language and ideas about certain elements of society would have the PC brigade running for cover today but they never used such words within earshot of a female. This was a lesson I learned as a sixteen year old working on the factory floor when I received an expletive filled dressing down from a foreman after using the f word in front of a female machine operator capable of using colourful language herself. OK so times and mores have changed and I suppose it depends on the “audience”, if women are comfortable with the use of such language and use it themselves that’s their prerogative and I emphasise that I personally have no qualms about the use of such words in suitable situations. However, I find it laughable and hypocritical when middle class people who have probably never come in contact with and would most likely avoid fraternising with the type of person I described above, consider it de rigueur to use such language as part of everyday conversation and give no consideration to what others may think. Linguistic evolution has occurred but “There's a time and place for everything” is still applicable today.
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elliotn
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Post by elliotn on Apr 4, 2017 13:40:45 GMT
Parallel conversation on the ghost loans thread! Perhaps the mods could pool them for a chat thread 
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Post by yorkshireman on Apr 4, 2017 13:44:26 GMT
Not necessarily IMO. I’m no prude having worked alongside and employed and managed individuals who were as rough as a bear’s backside, whose language and ideas about certain elements of society would have the PC brigade running for cover today but they never used such words within earshot of a female. This was a lesson I learned as a sixteen year old working on the factory floor when I received an expletive filled dressing down from a foreman after using the f word in front of a female machine operator capable of using colourful language herself. OK so times and mores have changed and I suppose it depends on the “audience”, if women are comfortable with the use of such language and use it themselves that’s their prerogative and I emphasise that I personally have no qualms about the use of such words in suitable situations. However, I find it laughable and hypocritical when middle class people who have probably never come in contact with and would most likely avoid fraternising with the type of person I described above, consider it de rigueur to use such language as part of everyday conversation and give no consideration to what others may think. Linguistic evolution has occurred but “There's a time and place for everything” is still applicable today. Was that a copy/paste? I thought I’d run it past the mods on this forum with one or two minor adjustments. 
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Post by p2plender on May 1, 2017 23:18:48 GMT
Lendy shot themselves in both feet.
Too many loans in default
Too many pipeline loans released simultaneously
Too many 7/8/9% loans
Too many sub standard offerings and now a clogged secondary market unless you have good long dated 12%ers.
People seem to be withdrawing cash alarmingly now. Wonder how they're going to attract the next tranche of investors?
Nice while it lasted.
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izigor
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Post by izigor on May 2, 2017 20:02:20 GMT
ugh .. really frustrated with the SM. Is there an alternative out there for 12%?
If not, what are the "entry to market" challenges for this business? There are a few intelligent cookies here (with investment to spare), why don't we open another one?
We make it simple, assets backed, property related and perhaps an organic growth strategy. Any Lawyers and Surveyors here?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 2, 2017 20:20:16 GMT
ugh .. really frustrated with the SM. Is there an alternative out there for 12%? If not, what are the "entry to market" challenges for this business? There are a few intelligent cookies here (with investment to spare), why don't we open another one? We make it simple, assets backed, property related and perhaps an organic growth strategy. Any Lawyers and Surveyors here? Yeah, wottabummer, there goes my "Slowly but surely, completely exit Lendy" strategy. For the time being anyway. Still, what I have left is 12%ers on which I've done reasonable DD and happy with, I'm not bothered holding on to if I have to. Unlike some. 
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GeorgeT
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Post by GeorgeT on May 2, 2017 20:46:38 GMT
The SM has been good for me today and things are moving. In fact I have sold more today than I sold yesterday. I am confident of being out of everything sub 100 day and sub 12% by the end of the week.
Although that said I always got rid of anything dodgy and short dated before it became critical. So what I have been selling in the last few days has been stuff that 2 months ago would have sold in a flash but now takes a couple of days to shift.
When people talk about an illiquid monster I would refer them to the AC 30-day access account which pays 4.75% and you have to wait 30 days to get your cash out. It is all relative and here on SS people may now have to wait 2 weeks to get their cash out at 12% and they call that illiquid. It's all relative and because the instant access people became accustomed to is no longer the case except on the top quality loans.
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! My kids hear that word daily in the likes of Simpsons and Futurama. 
