29-05-2018, 02:56 PM
Lendy in the news
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29-05-2018, 06:43 PM
I think Lendy would be better concentrating on the day job
29-05-2018, 07:20 PM
It makes you wonder why they would be bothering to compile the data.....
29-05-2018, 08:21 PM
30-05-2018, 08:44 AM
06-07-2018, 10:56 AM
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http://www.altfi.com/article/4561_p2p-pr...-milestone P2P property lending platform sails past £400m milestone By Daniel Lanyon on 5th July 2018 Lendy?s latest milestone comes as some banks pare back their lending to the UK market. Lendy has broken £400m of lending to the UK property market, as more property developers seek out alternative finance options, the firm has said. Formally known as Savings Stream, with a specialism of loans secured against yachts, Lendy is now purely in the secured property lending market. The platform, which reached £300m in April last year, now has more than 21,500 investors who have earned more than £40m in interest, it says. Liam Brooke, CEO of Lendy, says the firm is filling a void left by some big banks. ?With banks set to limit their property lending even further ? we are ready to help fill the funding gap. A combination of quick turnarounds for developers, coupled with good returns and excellent due diligence on properties for our investors, is helping Lendy grow at a healthy rate,? he said. Lendy says it typically offers loans returning between 7 per cent and 12 per cent with loans secured with a charge over UK property, and are written at a maximum of 70 per cent loan to value (LTV). Lendy is also the title sponsor of Lendy Cowes Week sailing regatta.
22-07-2018, 08:08 PM
New Business Development Manager.
https://bridgingandcommercial.co.uk/arti...0new%20BDM
22-07-2018, 09:37 PM
Interesting.
Quote:Commenting on the new appointment, Liam Brooke, CEO at Lendy, said: ?Michael has a strong track record of delivering bespoke credit solutions to property developers, and we look forward to him continuing this work at Lendy.?Not shying away from DFLs, then. Perhaps they have some plans for alternative funding solutions in addition to - and maybe even instead of - the self-destruct self-select platform we know and (now only occasionally) love.
25-07-2018, 12:37 PM
26-07-2018, 11:42 AM
And a further announcement: Lendy hires Terry Pritchard as head of origination
Given the state of the platform as we see from an investors perspective - ie: little in the way of new loans, DFL tranches struggling to fill, rising numbers of 'non-performing' and 'claims-underway', etc, etc, - this would seem a bold move for someone who is presumably on a performance-based package to join an organisation which is, on the face of it, struggling. So how did Lendy sell the role? Possibly now that full FCA approval has been obtained, they are deploying something akin to the five-step plan: Quote:1. Get rid of the crapOK, step 1 is still very much 'work in progress', but I can see the other items kicking in PDQ (well, as 'Q' as these things can) and I can't help thinking Lendy must have a plan to generate additional revenues from its' retail customers (IFISA, Bonds) and / or has an alternative revenue stream available, given the amount of recruiting they are undertaking. Or maybe they are just placing an awful lot of faith and reliance on Cowes Week. :|
26-07-2018, 12:27 PM
(26-07-2018, 11:42 AM)zappa Wrote: And a further announcement: Lendy hires Terry Pritchard as head of originationUsing Orwell's Ministry of Truth tactics, of course no-one has lost a penny, the accounts show millions of pounds of retained profits it is just, as you have identified the "crap" they need to get rid of. Just manipulate offers so the majority just cut their losses and hope there is a sufficient number of new entrants to undertake steps 2-5. Far too clever for Brooke and Gordon to think of, must be all the new hires.
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02-08-2018, 10:04 AM
Lendy partners with VAS Panel
Not new news as Lendy first announced this to lenders back in early June. Reason for posting it here is that there's a link to an article on Aspen's partnership with VAS which includes the following snippet. Quote:In addition, VAS Panel will create a bespoke panel of building and quantity surveyors to run alongside the valuation process.If Lendy were to go down this route, then a consistently generated set of IMS reports, produced across all DFL projects, 'singed-off' by VAS, and (importantly) made available to lenders, could go part way to resolving some of the trust issues seen to date re: progress .v. tranche drawdowns. The lack of governance around DFL001/2 and DFL004 is history in the making, so hopefully some lessons learned there, but most current projects could do with better, validated feedback, IMO, to justify continued investment. Not too fussed about detailed lists of kitchens installed or ceilings painted - save that for the pruchsers buying the developments - just proper project reporting along the lines of: "development on track with forecast 13 weeks to completion, and on budget with ?x00,000 forecast spend". It really isn't hard. |