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Post by loftankerman on Apr 25, 2018 18:42:22 GMT
For my 21st birthday my grandmother, then a 64 year old widow bought me a premium bond. She said it was all she could afford, but that she hoped one day it would come up and make me rich. The years ticked by and she lived to be 100, dying just before her 101st birthday. I'll be 75 this year and it looks like the risk is that even if I live to hit 100 myself, I still won't have won.
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Post by loftankerman on Apr 25, 2018 16:50:50 GMT
Just had a quick look at the Lendy reviews on TrustPilot and note that Lendy seem to be going through the list including the older reviews and taking down anything they don't like. I just did a search (admittedly very halfheartedly, got distracted by something and lost interest) for sites where you could leave reviews for sites like TrustPilot, looks like there might be a gap in the market. See my edit above.
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Post by loftankerman on Apr 25, 2018 16:28:49 GMT
I have been able to identify with the content of most of the recent negative reviews of Lendy on Trustpilot. The sudden plethora of not very specific 'Gee they're great' positive reviews did nothing to impress me as they indicated little comprehension of what Lendy were about, and some of the other reviews of the posters indicated as little comprehension of other things too. It also became apparent that negative posts were disappearing. So just out of curiosity and wondering if I smelled a rat, I Google'd "Don't trust Trustpilot'. I got 101,000 results in about 0.43 seconds. I haven't read them all but Trustpilot doesn't come out looking too good and these are not just complaints from moaning individuals but from fairly serious reviewing organisations. Edit: Any aggrieved Lendy reviewers could consider reviewing Trustpilot at www.reviews.io/company-reviews/store/trustpilot
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Post by loftankerman on Apr 25, 2018 10:10:54 GMT
Why do people keep bumping this thread up? Do you want Lendy to fail ? I doubt this short speculative thread will be the flap of the butterfly's wing that will tip Lendy over the edge. What about all of the other threads bemoaning demonstrable unacceptable facts? Exeter Loan 1 is running to 68 pages now.
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Post by loftankerman on Apr 25, 2018 9:00:06 GMT
I don't think that the issue is as simple as not liking a review. I assume that Lendy have pointed to their claim, based on their calculations, that no one has lost money with them. I haven't lost any money (yet). So they would have a case for stating that the review was factually incorrect and potentially damaging to their business. It would be reasonable for Trustpilot to accept that, and remove the review. As for Lendy failing, I imagine it may cease to trade in the future as its source of funds dries up. The financial failure is more likely to sit with the lenders than the company whose T&C absolved them of any responsibility for anything.
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Post by loftankerman on Apr 24, 2018 22:39:26 GMT
Given the amounts of money involved in all the defaults etc, is it likely that Lendy have the wherewithal to pursue them all to a successful conclusion? Even if motivated, it seems like a bit of a stretch to me.
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Post by loftankerman on Apr 24, 2018 10:39:27 GMT
If Lendy had an 'in house valuer' then they wouldn't have a loan book! I agree re Cowes week. The money should be spent trying to re-patriate lender's funds, not playing Billy big timers on the river bank quaffing Bollinger.. I imagine that money spent trying to repatriate lender’s funds could be seen as wasted if the proceeds were only going to be gratefully withdrawn and put beyond Lendy’s reach. Cowes Week and high scores on review sites are potentially the cheese in the trap that draws money into the company. Of the two, the latter is probably their better option.
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Post by loftankerman on Apr 23, 2018 22:10:12 GMT
Well, the average rating is on the way up, spurred on by a sudden unexpected rush of good reviews. If it keeps on going at this rate it'll be 5 stars in a month and I'll be mortgaging the house and putting it all on a field of sheds. Hallelujah !
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Post by loftankerman on Apr 23, 2018 18:17:31 GMT
I must say, I find the latest reviews on Trustpilot very bizarre. Lendy were consistently given very bad reviews for the past couple of months with the occasional half decent review (one of which I did myself). But yet with the e-mail Lendy sent asking people to rate them, there has been a massive upsurge in positive reviews with only a small handful of negative reviews. Has something changed in the past couple of days that I'm not aware off that has caused a sudden change for investors to be really positive about Lendy? The default list hasn't changed and no major repayments so what is going on?? My bold. This might make sense if Lendy's email invite for Trustpilot reviews was selective, eg by filtering data from the latest tax statements to identify a sample of lenders who made decent returns. There must be a few them! Given the response my earlier post got from Lendy Support, I'd guess they have a close watch on the forum. I anticipate that if they haven't come up with your bright idea (maybe too bright for them), someone will be asked if they can do it first thing in the morning.
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Post by loftankerman on Apr 23, 2018 15:09:46 GMT
I posted my copy of the above email request for a review on the phonecalls thread early today. I received a PM from Lendy Support shortly afterwards suggesting I arrange a time for a phone conversation. They clearly didn't read the attached comments.
"Having got no response from the phone call they claim to have made, nor any reply to their follow up email, I have had a further email today inviting me to submit a Trustpilot review..
...I'm not too sure how doing that would improve customer satisfaction. Good reviews get a smug 'Thank you <insert name>.' Bad ones get an argument and a reminder of the risk warning. It makes them sound perfectly happy with themselves, nothing to fix there."
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Post by loftankerman on Apr 23, 2018 10:32:58 GMT
Having got no response from the phone call they claim to have made, nor any reply to their follow up email, I have had a further email today inviting me to submit a Trustpilot review..
"Thank you for investing with Lendy - The Property Platform.
To improve the satisfaction of our customers, we have partnered with the online review community, Trustpilot, to collect reviews.
Click here to review us on Trustpilot"
I'm not too sure how doing that would improve customer satisfaction. Good reviews get a smug 'Thank you <insert name>.' Bad ones get an argument and a reminder of the risk warning. It makes them sound perfectly happy with themselves, nothing to fix there.
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Lendy (L) in Administration
phonecalls
Apr 21, 2018 6:24:51 GMT
Post by loftankerman on Apr 21, 2018 6:24:51 GMT
Have Lendy been asking random people in the pub to post positive Trustpilot reviews in exchange for a drink?? Looks like drunks or bots have been posting a lot of good reviews in the past 24 hours!! That's an improbable sudden surge in reviews given their normal rate of arrival. The ratings mostly buck the trend and my own impressions, too. I'd have been happy to leave a goodish review if they hadn't been behaving like a devious bunch of bumbling incompetents for the past year or more and stacked up so much evidence to the contrary. If they are still around when I either get my last few thousand back or write it off, then I'll leave a factual one having experienced the whole ride.
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Post by loftankerman on Apr 19, 2018 18:47:44 GMT
Hmm. I don't think I qualify for any of them 😭 Yeah, me too. Don't seem to have a category for someone who has pulled out of everything apart from those Lendy has locked them into, and hasn't bought anything new for over a year. Come to think of it, that's probably a sign of a sophisticated investor.
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Post by loftankerman on Apr 18, 2018 15:03:36 GMT
Good news indeed! Now they've cleared the defaults I'm happy to charge ahead and spread another £20K across their previously unappetising loans. I assume that is the response they are looking for.
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Lendy (L) in Administration
phonecalls
Apr 18, 2018 9:54:11 GMT
Post by loftankerman on Apr 18, 2018 9:54:11 GMT
Has any one who raised not earning interest whilst on SM, had any comment from L on this point? I.e. what is L's position on it? I think that by now we can confidently assume that Lendy's position on everything is that investors accept their T&C by investing or continuing to invest. The T&C aren't negotiable but written in pencil so as to be easily amendable should Lendy find a need to do so. I'm anticipating either an upcoming levy on monthly interest payable so that Lendy will be able to fund Cowes Week, or a Cowes Week Loan to Lendy that our funds can be steered into. Of course it is ridiculous, but if it gets written into the T&C I'm sure they'll confidently plough ahead.
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