|
|
Post by portlandbill on Sept 6, 2017 9:00:51 GMT
i had just about decided to cancel my prefund. Lendy cancelled it for me anyway!
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Sept 6, 2017 9:14:03 GMT
I'm sure I had pre-funded some of this while it was still DFL030, it seems that in a period of 12-14 hours it was turned into a PBL, automatically erased my pre-fund, and then went live without me. I feel somewhat short-changed. Paul64 please explain. Same here!!! Arrgghhh And here. After selling some other loans to have funds for this one... just ended up with some of PBL192 Grr
|
|
sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428 
Likes: 1,212
|
Post by sqh on Sept 6, 2017 9:26:00 GMT
660 lenders did read the email and re-set their pre-funding amount. The max allocation was very high at £6,145, didn't expect that much.
EDIT: Actually, I suspect most of those 660 had set group pre-funding for all 12% loans.
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Sept 6, 2017 9:31:40 GMT
660 lenders did read the email and re-set their pre-funding amount. The max allocation was very high at £6,145, didn't expect that much. EDIT: Actually, I suspect most of those 660 had set group pre-funding for all 12% loans. high allocation because the others had their bids cancelled! The email I received didn't say anything about resetting pre-funded amount.
|
|
greeb
Member of DD Central
Posts: 56
Likes: 55
|
Post by greeb on Sept 6, 2017 9:35:05 GMT
happier with this as a PBL @70% LTV of 925K. may never turn into a DFL. got what i asked for dare say a lot of prefunds on the DFL were cancelled. Always the SM....
|
|
TonyL
Posts: 53
Likes: 98
|
Post by TonyL on Sept 6, 2017 9:53:55 GMT
The point that I feel doesn't reflect a consistent approach is that Lendy already say that when/if this gets turned into a DFL then investors in the PLB will automatically be moved into the DFL...so why did the same rule not apply to this today. I had a clearly stated objective to have a lending allocation to this loan through the pre-fund route. Just because Lendy change the name I don't understand why I was removed rather than be automatically moved into the PBL. 12 hours notice is not enough time if you are going to apply random rules like this. Poor show Lendy Support . -- EDIT -- ...and 8 hours of the notice we were given was overnight whilst we were all asleep in out beds. |
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Sept 6, 2017 10:49:41 GMT
Strikes me as damned if they do, and damned if they don't...
If they'd moved existing investors' pre-fund for DFL030 onto PBL191, on the assumption that they're happy to lend to the same borrower on different terms than those originally advertised, there'd doubtless have been plenty of complaints from people who wanted the DFL on the original terms, didn't want the PBL on the new terms, and who then need to demand that Lendy cancel their loan parts (or simply leave the negative balance until Lendy make that decision for them).
FWIW my own personal decision has been to leave the default pre-funding active, and cancel it for loans I *don't* want (e.g. the umpteenth tranche of a huge DFL that I'm already over-exposed to). The typical hassle involved in shuffling a bit of extra money in and out for a handful of loans than launch with insufficient notice to cancel the default pre-funding seems to me less than the hassle in trying to pick up on the SM a "unicorn" that I missed when it first launched. YMMV of course. I almost changed that policy in the recent glut before the start of the summer (when disposing of unwanted allocations became much harder in at least some cases), but ultimately kept going as I was.
Edit: I also suppose there's also some consolation for those who missed out - if it does indeed convert to a DFL as planned, there'll be plenty more pre-funding opportunities down the line without having to fight for the scraps on the SM.
|
|
GeorgeT
Member of DD Central
Posts: 1,322
Likes: 1,576
|
Post by GeorgeT on Sept 6, 2017 11:31:50 GMT
Gutted. This is one of the finest loans on the platform and I have been looking forward to it for days and now I find that like others above I have completely missed out because I had not realised my prefund had been reset to 0.
|
|
|
|
Post by portlandbill on Sept 6, 2017 11:39:20 GMT
Strikes me as damned if they do, and damned if they don't... If they'd moved existing investors' pre-fund for DFL030 onto PBL191, on the assumption that they're happy to lend to the same borrower on different terms than those originally advertised, there'd doubtless have been plenty of complaints from people who wanted the DFL on the original terms, didn't want the PBL on the new terms, and who then need to demand that Lendy cancel their loan parts (or simply leave the negative balance until Lendy make that decision for them). Of course, you're right. But to give just 12 hours notice (overnight) shows that Lendy don't care about what their lenders think or do.
|
|
jsmithe
Member of DD Central
Posts: 74
Likes: 22
|
Post by jsmithe on Sept 6, 2017 11:41:52 GMT
Term set at 365 now.
I got 6k.
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Sept 6, 2017 11:46:29 GMT
Gutted. This is one of the finest loans on the platform and I have been looking forward to it for days and now I find that like others above I have completely missed out because I had not realised my prefund had been reset to 0. it was not at all clear - poor communication. together with the 'black hole' issue confidence is dwindling again. May not be a coincidence that there is a significant increase in the SM total today.
|
|
dermot
Member of DD Central
Posts: 863
Likes: 517
|
Post by dermot on Sept 6, 2017 12:06:42 GMT
I like this part of the overview: "The property is located within an area known as the Golden Triangle." Over the years I've found that estate agents frequently refer to the "Golden Triangle" no matter where you are. Tenant: It seems like an overpriced hellhole Estate agent: *shrugs* yeah but it's in the Golden Triangle I thought the Golden Triangle was where all the heroin came from. Plenty of money sloshing about there, if so ....
|
|
southport
Member of DD Central
Posts: 125
Likes: 88
|
Post by southport on Sept 6, 2017 14:51:53 GMT
Term set at 365 now. I got 6k. How did you manage that? I prefunded 10k and got £1,970......... EDIT: Wrong loan again,sorry....
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Sept 6, 2017 14:53:20 GMT
Term set at 365 now. I got 6k. How did you manage that? I prefunded 10k and got £1,970......... £1,970 was the max allocation on PBL192, not PBL191
|
|
jsmithe
Member of DD Central
Posts: 74
Likes: 22
|
Post by jsmithe on Sept 6, 2017 14:56:45 GMT
Term set at 365 now. I got 6k. How did you manage that? I prefunded 10k and got £1,970......... EDIT: Wrong loan again,sorry.... That was in PBL192, this is PBL191. £1970 is the top allocation for 192, I got that allocation as well.
|
|
