hazellend
Member of DD Central
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Post by hazellend on Aug 16, 2017 20:27:25 GMT
I'm not in this loan but looks like they are refinancing with The House Crowd if anybody is interested to know.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
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Post by ilmoro on Aug 16, 2017 21:16:01 GMT
Not sure its that imminent, only 10% filled. I assume the borrower has some funds to commit as the loan is a little light on sum being raised.
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mary
Member of DD Central
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Post by mary on Sept 12, 2017 15:27:09 GMT
This is now showing as 100% funded on House Crowd, so hopefully will repay very soon!
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Post by loftankerman on Sept 12, 2017 16:19:42 GMT
It will be interesting to see how this fares on HC. The loan seems to have been sought from them using the same tale that SS was sold ... "Just a short term thing but let's call it 12 months"
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fp
Posts: 1,008
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Post by fp on Sept 15, 2017 11:27:43 GMT
It's sounds like this has fallen through on HC, maybe it is time to test the quality of the valuation, 34% LTV wasn't it?
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Post by loftankerman on Sept 15, 2017 12:16:35 GMT
Interesting. I looked on their site maybe yesterday and the loan was shown as 100% funded and the update still said that DD was almost complete with payment to be made on completion. Today the update info is the same but the loan itself is no longer to be seen in the list of loans.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Sept 15, 2017 16:44:23 GMT
15/09/2017
The borrower's refinance with another P2P lender has been 100% funded and the new lender's solicitor is finalising their due diligence prior to being able to complete. We are hoping that this will be repaid in the next week.
WHAT???! 
Mmm! Maybe Lendy could make a quick phone call to the borrower. Paul64
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mikes1531
Member of DD Central
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Post by mikes1531 on Sept 15, 2017 21:05:06 GMT
Interesting. I looked on their site maybe yesterday and the loan was shown as 100% funded and the update still said that DD was almost complete with payment to be made on completion. Today the update info is the same but the loan itself is no longer to be seen in the list of loans. The loan showing as 100% funded at THC was a red herring. It never got beyond 64% funded despite the interest rate being increased by 1% at the end of August and the deadline for bonuses for larger investments being extended to 14/Sep. The loan switched to showing 100% funded on THC's bar chart, but still showed only £731k funded (64%), and I suspect that the 100% number is what THC have to do in order to make the button on their system that people need to click in order to place an investment in a loan disappear. That happened on Tuesday. On Thursday THC told investors in that loan that it wasn't going to proceed, and the loan disappeared from their website completely. In an update dated Friday, Lendy tell us everything is proceeding well. I know who -- of THC and Lendy -- I believe.
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Post by GSV3MIaC on Sept 16, 2017 15:24:29 GMT
/mod hat off
Well it was an awfully big tin can to kick further down the road ... P2P seems to be turning into nested parcel-passing .. "sell your parts to someone else" inside "move the loan to another platform"
It's not bridging, it's a cantilevered road to auction.
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Post by loftankerman on Sept 16, 2017 17:22:39 GMT
/mod hat off Well it was an awfully big tin can to kick further down the road ... P2P seems to be turning into nested parcel-passing .. "sell your parts to someone else" inside "move the loan to another platform" It's not bridging, it's a cantilevered road to auction. Yeah, there are times when providing banking facilities to Nigerian diplomats who wish to export their wealth seems less risky. The warning that capital may be at risk is probably a little vague and could be more mind focusing if it added "...as conmen may lend your money to crooks." Obviously I have no one specific in mind here.
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