robski
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Post by robski on May 24, 2017 9:57:35 GMT
Ed can you please confirm if they will function as normal, so you say they start on the 30th, will they appear in pending loans a day or 2 before this, and assume your going to do it in batches much like when you did the Ae loans a while back?
Thx muchly
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am
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Post by am on May 24, 2017 10:02:32 GMT
I can see a potential problem here. For various reasons some people may not take action before the deadline, and then get irate when they find that their whole laboriously built portfolio is sold off. Firstly people might not read the email - "IMPORTANT LOAN UPDATE" isn't strong enough because important is overused (e.g. by Hargreaves Lansdowne). "URGENT ACTION REQUIRED" fits the spot. (One might argue that it's the lenders' own fault for not reading the email, but that won't stop the ill feelings.) Secondly email is not a reliable means of delivery - people have previously reported not receiving emails (e.g. due to overactive spam filters). An interstitial page on the web site on login would add a belt to the braces. Thirdly a small minority of lenders may be incommunicado for the forthcoming week. They might be on holiday in an area without internet access (e.g. wildcamping in a remote part of the Scottish Highlands), or they might be recuperating from surgery, or whatever other cause might apply. MoneyThing ? Edit: As the changeover is being implemented in stages the problems aren't as acute as the above analysis would suggest.
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Post by bobthebuilder on May 24, 2017 10:06:42 GMT
True, but read and agreed with the new Ts&Cs then I clicked the renew all button before realising the dual purpose and selected some small asset exchange type loans that I'd decided not to renew using the original meaning. It is my own fault I suppose but it caught me out. Easy enough to fix one by one. LW I agree with your concerns about the dual use of the Renew box. As things stand you can't differentiate between AE loans that are expected to repay within the next couple of months and those that are expected to be rolled over. Not good if you're happy to buy the latter but not the former.
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Post by MoneyThing on May 24, 2017 10:08:08 GMT
Ed can you please confirm if they will function as normal, so you say they start on the 30th, will they appear in pending loans a day or 2 before this, and assume your going to do it in batches much like when you did the Ae loans a while back?
Thx muchly Morning, Yes, we will be undertaking this transition over a period of time. We will also give lenders notice as each one is undertaken, with the new loan appearing on Pending and communicate as such in advance by email. Kind regards, Ed
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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
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Post by ilmoro on May 24, 2017 10:43:26 GMT
True, but read and agreed with the new Ts&Cs then I clicked the renew all button before realising the dual purpose and selected some small asset exchange type loans that I'd decided not to renew using the original meaning. It is my own fault I suppose but it caught me out. Easy enough to fix one by one. LW I agree with your concerns about the dual use of the Renew box. As things stand you can't differentiate between AE loans that are expected to repay within the next couple of months and those that are expected to be rolled over. Not good if you're happy to buy the latter but not the former. AE loans that are being rolled include the word 'stocking' in the description, the others are GALs (Yes, there are boy loans and Gal loans )
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vmail
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Post by vmail on May 24, 2017 10:47:33 GMT
I now have a box on the side of RCC708, it is unticked. I have already pressed Renew All several times yesterday.
Do I need to press it again now that his box has appeared after I pressed Renew All yesterday?
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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: 10,840
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Post by ilmoro on May 24, 2017 10:49:30 GMT
I can see a potential problem here. For various reasons some people may not take action before the deadline, and then get irate when they find that their whole laboriously built portfolio is sold off. Firstly people might not read the email - "IMPORTANT LOAN UPDATE" isn't strong enough because important is overused (e.g. by Hargreaves Lansdowne). "URGENT ACTION REQUIRED" fits the spot. (One might argue that it's the lenders' own fault for not reading the email, but that won't stop the ill feelings.) Secondly email is not a reliable means of delivery - people have previously reported not receiving emails (e.g. due to overactive spam filters). An interstitial page on the web site on login would add a belt to the braces. Thirdly a small minority of lenders may be incommunicado for the forthcoming week. They might be on holiday in an area without internet access (e.g. wildcamping in a remote part of the Scottish Highlands), or they might be recuperating from surgery, or whatever other cause might apply. MoneyThing ? Edit: As the changeover is being implemented in stages the problems aren't as acute as the above analysis would suggest. MoneyThing ... can I suggest, if it is within the capabilities of The Shaung, that a pop-up is added to the log in process, giving the key details of the renewal and asking lenders to accept they have read and understand the actions required, the captured data would then be available to be compared against accounts, identify those that would be negatively affected by the renewals and then they can be contacted directly
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Post by yorkshireman on May 24, 2017 10:52:09 GMT
I wonder if Lendy and Funky Crispsmirk will have to do this if they want full authorisation. Repay all loans (including defaulted/RBR etc) with an offer to renew ... yeah .. right .... airborne porkies rule, OK? I sometimes wonder if Lendy believe that they are too important to be bovvered with trivia like FCA authorisation. And the entire IT team at Febrile Computing probably couldn't actually work out how to add a shiny blue "renew all" button. Shouldn’t that be Futile Computing?
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SteveT
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Post by SteveT on May 24, 2017 10:53:46 GMT
I now have a box on the side of RCC708, it is unticked. I have already pressed Renew All several times yesterday. Do I need to press it again now that his box has appeared after I pressed Renew All yesterday? Either click "Renew All" button again or tick the RCC708 box directly. I guess it was missed initially and added later.
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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: 10,840
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Post by ilmoro on May 24, 2017 10:54:08 GMT
I now have a box on the side of RCC708, it is unticked. I have already pressed Renew All several times yesterday. Do I need to press it again now that his box has appeared after I pressed Renew All yesterday? Just tick the box if you want to renew. Quick check ... click on the invested column to stick all the loans you have holdings in at the top ... go down the list checking anything with a box has a tick in it (or not if you dont want to renew) Thats how I ve always checked my investments renewals
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Post by yorkshireman on May 24, 2017 10:56:10 GMT
well I was going even more mad then everyone else. I went to the My Loans page and couldn't find the renew all button at all......hunted high and low....now located. You're not the only one!
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Post by wottalot on May 24, 2017 11:42:12 GMT
I now have a box on the side of RCC708, it is unticked. I have already pressed Renew All several times yesterday. Do I need to press it again now that his box has appeared after I pressed Renew All yesterday? Just tick the box if you want to renew. Quick check ... click on the invested column to stick all the loans you have holdings in at the top ... go down the list checking anything with a box has a tick in it (or not if you dont want to renew) Thats how I ve always checked my investments renewals Useful Tip ...... BUT after clicking "Renew all" my holding in BPF705 ( Manchester Hall - 9th drawdown) is not showing a tick or a box.... whilst all my other loans have now got a tick to show they will Renew, including BPF697 (Manchester Hall - 8th drawdown). What's amiss MT ?
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archie
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Post by archie on May 24, 2017 11:53:12 GMT
Just tick the box if you want to renew. Quick check ... click on the invested column to stick all the loans you have holdings in at the top ... go down the list checking anything with a box has a tick in it (or not if you dont want to renew) Thats how I ve always checked my investments renewals Useful Tip ...... BUT after clicking "Renew all" my holding in BPF705 ( Manchester Hall - 9th drawdown) is not showing a tick or a box.... whilst all my other loans have now got a tick to show they will Renew, including BPF697 (Manchester Hall - 8th drawdown). What's amiss MT ? BPF705 is already on the new terms. Loan start 12/04/17, anything on or after 24/03/17 is under new terms.
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Post by bobthebuilder on May 24, 2017 11:55:04 GMT
Just tick the box if you want to renew. Quick check ... click on the invested column to stick all the loans you have holdings in at the top ... go down the list checking anything with a box has a tick in it (or not if you dont want to renew) Thats how I ve always checked my investments renewals Useful Tip ...... BUT after clicking "Renew all" my holding in BPF705 ( Manchester Hall - 9th drawdown) is not showing a tick or a box.... whilst all my other loans have now got a tick to show they will Renew, including BPF697 (Manchester Hall - 8th drawdown). What's amiss MT ? Nothing's amiss. The 9th drawdown took place after the new T+Cs applied (24/3) (Cross-posted with Archie)
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Post by bobthebuilder on May 24, 2017 11:58:34 GMT
I agree with your concerns about the dual use of the Renew box. As things stand you can't differentiate between AE loans that are expected to repay within the next couple of months and those that are expected to be rolled over. Not good if you're happy to buy the latter but not the former. AE loans that are being rolled include the word 'stocking' in the description, the others are GALs (Yes, there are boy loans and Gal loans ) As an active reader of this forum,I know that. But there must be plenty of MT investors who don't.
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