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Post by loftankerman on Mar 5, 2018 11:01:27 GMT
Strange how the Pickering loan was due to extend to December but hasn't donr. Maybe lendy won't agree to extending that loan until this is repaid ? Maybe they don't need it extending because DFL005 is funding it. Nearly right.
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Post by loftankerman on Mar 4, 2018 23:46:44 GMT
"Relax, if things don't go to plan this time around we'll still have 250 years to run on Our leasehold in which to secure a full repayment; longevity bonus payable subject to T&C's link here."
Well, that's only a consolation for those who believe that the final statement, unlike all the others, is actually true. As long as they keep seeing investors have their gullibility flags set to one, these statements will keep coming and repayment etc. will be a long time off.
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Post by loftankerman on Mar 4, 2018 17:53:38 GMT
Check this time line...
06/07/2017 Borrower is confident that the debt will be repaid prior to expiry.
21/07/2017 Borrower remains confident that the site will be completed well before the expiry date. ... full repayment of our debt at the same time as the sale of the freehold.
22/08/2017 ... completion by the end of October. Upon completion, the borrower intends to fully repay this loan.
31/08/2017 We have agreed a four month extension with the borrower to enable the continued development.
15/09/2017 confirming a proposed equity investment and sale of freehold title, which together will generate more than sufficient funds to repay the drawn loan balance within the extended term.
28/09/2017 ... equity investment of £5m, and draft sales details for the sale of freehold in excess of £4m, the aggregate of which is more than sufficient to repay the loan including the latest tranche.
10/11/2017 ...borrower and their advisors this week and they are confident that practical completion will be achieved in early December with the loan being fully repaid before expiry.
21/12/2017 ... borrower’s Solicitors for an update regarding the proposed repayment of the loan, which the borrower expects to be fully repaid before the loan maturity date
05/01/2018 The loan is due to expire on 5th January 2018 and the borrower and their solicitor have advised that they are actively trying to finalise the refinance/ repayment of the loan, however this is now likely to be later this month.
19/01/2018 The borrower is expecting to fully repay the loan before the end of January and the solicitor has confirmed that this is a realistic timescale.
02/02/2018 Whilst the sale has taken longer than expected to complete we remain confident full repayment will be achieved soon.
09/02/2018 We issued an update on 2 February 2018 in regard to DFL005 confirming that we expected the loan to be repaid shortly.
16/02/2018 A Certificate of Practical Completion has been issued... The borrower and their solicitor are confident the sale of the site, and therefore full repayment, will be achieved soon.
23/02/2018 we now have a viable solution, which will be implemented shortly.
01/03/2018 ...extend the entire facility for a further 6 months and provide working capital to the borrower. ...delays impacting the equity investor will be resolved before the expiry of the proposed extension period in order for full repayment of the loan to be made to be made to investors.
Now, what is it about the last statement that makes it any more or less believable or likely to happen than any of the others?
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Post by loftankerman on Mar 4, 2018 12:59:29 GMT
I decided over 12 months ago that I was on my way out of SS/Lendy because I was getting the same low key vibes that I ignored when to my significant cost I didn't get out of Equitable Life in time. I am not risk averse, I am deceit averse. I am not pointing the finger at Lendy as the originators of the deceit, but I have no basis for believing much of what I am told, and can't anticipate discovering what others somewhere may be putting far more effort into hiding. In that respect, investing becomes like betting on a horse because the jockey is wearing the prettiest colours. If I was that much a gambling man, I'd do it down at the betting shop because there when my horse had passed the post, they'd just give me my winnings and not tell me they'd decided to put it on a donkey in the 4:30 on my behalf. I'm not getting out of P2P, I have twenty times my remaining Lendy investment elsewhere and am content with it.
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Post by loftankerman on Mar 2, 2018 20:28:16 GMT
Hmm, what makes you think there is any correlation between Ly collecting interest penalties and them paying bonus interest?? None, I was mainly speculating on the quid pro quo of the apparent new deal, and the known fact that, irrespective of any bonus stated against a loan, no bonus is paid if a loan is extended. Do you mean it sounds like a 'win-win' for them and more 'jam tomorrow' for us?
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Post by loftankerman on Mar 2, 2018 15:45:30 GMT
"What we can say about DFL005, however, is we have had very positive and constructive meetings in person with the borrower this week, and believe we now have a viable solution, which will be implemented shortly."Track records being what track records are, my money is on this 'viable solution' being another tranche and extension. Well, I wasn't a million miles out.
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Post by loftankerman on Mar 2, 2018 12:06:57 GMT
If they made barge poles long enough, they'd be too heavy to lift.
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Post by loftankerman on Mar 2, 2018 10:30:55 GMT
Nice photos .. however some blighter has nicked the ski lift. Damn .. they've nicked the mountain(s) as well.... Don't forget the lake from the 'artist's impression' used to sell this idyllic resort and supporting loan.
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Post by loftankerman on Mar 2, 2018 7:43:56 GMT
Stalag Luft Yorkshire?
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Post by loftankerman on Mar 1, 2018 10:56:07 GMT
My interest came to £20.06 which amounts to fractionally short of what was five weeks pay when I started work in 1961. The boss was on an astronomical £9 a week.
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Post by loftankerman on Feb 28, 2018 12:55:12 GMT
Some lenders may be conscious of the connection between this one and DFL005. 'Delays' on DFL005's repayment will be giving people cause to pause and think about over-exposure to one borrower, which is entirely prudent. I got out of this at the beginning of June last year in a knee jerk reaction when the SM queue suddenly and briefly shortened. The evolving saga of sheds and DFL005 nonsense etc. has convinced me that my knees have a better grasp of this Lendy P2P smoke and mirrors than I do.
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Post by loftankerman on Feb 27, 2018 18:53:36 GMT
Strange how the Pickering loan was due to extend to December but hasn't donr. Maybe lendy won't agree to extending that loan until this is repaid ? Maybe they don't need it extending because DFL005 is funding it.
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Post by loftankerman on Feb 26, 2018 11:07:44 GMT
Certainly not something I have any knowledge of, but it seems possible that the loan could remain under your name with you having entered into a contract with them to provide any returns from it, to them for a consideration. I'm not sure that that would provide them with any benefit that they are seeking to gain.
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Post by loftankerman on Feb 25, 2018 15:43:08 GMT
Well, this seems to have backfired somewhat. Reading some of the trustpilot reviews since the email... wow, pretty savage! Yup! By comparison this forum seems to be the placid voice of the reasonable investor. I was wondering how long it would be before the reviewers were calling for picketing protesters armed with tar and feathers.
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Post by loftankerman on Feb 24, 2018 13:34:04 GMT
As an existing SS/Lendy customer I hadn't bothered reading the TrustPilot reviews but the references to them on here prompted me to have a look. Phew! They aren't very appreciative, are they? I was a bit amused by the fact that anything North of three stars attracted a personal vote of thanks for the support from the Lendy team, whereas some of the one stars that didn't get the "Well we warned enough didn't we?" boilerplate, asked the writer to contact them and prove they were customers. My inclination was to wonder if some of the five star reviewers were part of the platform's friends and family brigade.
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