andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 28, 2016 13:20:28 GMT
At least they are on the ball today and have put this header on their forum
We are aware that the website is currently showing a 500 Internal Server Error message on some pages.
Please accept our apologies for any inconvenience caused, we are working on this as a matter of priority.
For some reason they haven't put it on the actual site pages though
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 28, 2016 12:57:52 GMT
The loan parts page seems to load ok but the loan requests page keeps giving...
500 - Internal server error . Sorry, something has gone wrong and we can’t show you this page right now.
Failing Clients
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 22, 2016 13:18:30 GMT
*RESOLVED* We are aware that the website is currently not performing as it should be and it causing some technical errors upon logging in or logging out, other pages are not displaying correctly. Please accept our apologies for any inconvenience caused, we are working on this as a matter of priority.
It would seem to be working now. Not sure how long for though. I guess they found a new elastic band to hold the RAM pack in the back. (One for the kids there!)
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 21, 2016 16:38:42 GMT
I have emailed them three times, 24/3 after the email update on the shambles that is loan #35, then again 1/4 and 6/4. I have had no response whatsoever. Somewhat discourteous I think. Time to send them another email.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 20, 2016 18:13:14 GMT
You can't even check on over-running property loans, they won't tell you what interest, if any, has been charged after the scheduled repayment date. With someserious detective work, you can ultimately works out what has been credited to your account, but you have no way of knowing what should have been charged and whether you've been paid correctly.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 18, 2016 11:49:55 GMT
Going downhill fast. Now getting the following on the sell page
500 - Internal server error
Sorry, something has gone wrong and we can’t show you this page right now.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 18, 2016 10:05:42 GMT
Very slow and I've been logged out several times for no reason
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 16, 2016 13:02:40 GMT
SM loans are definitely flying off the shelves today at good premiums, I've shifted nearly £3k today.
There are now only three loans of any risk band on the SM at nil premium, all property. Two are the recent unattractive East London refinance that needed a 2% cashback to get over the line, the other is an A+ in £960 lumps (why do people buy such difficult to shift big lumps?)
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 11, 2016 19:23:27 GMT
Anyone using FC and reading their forum, will know that they are getting an increasing number of property loans running late, sometimes weeks, sometimes months
Their approach to my mind proving utterly amateurish. When loans go over the scheduled repayment date there are a number of approaches taken
- Some loans get a months interest applied as a penalty.
- Some loans pay interest but no penalty at the whim of a FC minion.
- Some loans pay no interest, and no penalty for no apparent reason. (Can I apply for some free money too?)
- Some loans are arbitrarily extended by several months without consulting lenders and the risk band is removed locking us in, unable to sell. Interest continues at original rate, even when that's as low as 7.5% with no penalty added. In many cases where cashback applied this becomes an effective reduction of the rate the lender achieves.
The choice is entirely unpredictable. FC do not know what they should do from one day to the next. They don't even seem capable of describing their randomised decisions to lenders in clear unambiguous ways. It seems that at the moment FC are being stress tested by their property borrowers and the are from my perspective being found to be pitifully inadequate.
I fully realise that most, if not all, will eventually repay. The delays are the usual mix of bad weather, planning changes, poor management, changes to schemes, delays in completion, holding out for top dollar prices. In short, run of the mill property development risks rather than financial impropriety which will lead to default. FC however do not seem to have anything in their contract to penalise/incentivise borrowers to repay on time and in the cases where they need arrange and market replacement loans on FC these are usually so late that the original loans pay late anyway.
Personally I think there should be an up-rating of the interest paid by 20% or 25% for those days that the loan is overdue but not in full default. It is simple and understandable, clear for borrowers to know what they are committed to and clear for the lender. Everyone knows where they are.
What I was interested in finding out was the approaches other sites take in such situations? Are they all laissez-faire like FC or do they have firm policies?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 6, 2016 15:21:09 GMT
I can't help thinking that the case for IFISA/FCA approval might be strengthened if they could organise for Available Funds to show the same amount on every page.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 4, 2016 16:44:34 GMT
Thank you for the advice, I'll investigate.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Apr 4, 2016 11:55:06 GMT
Hi SL75
As someone going boss eyed staring at and refreshing the SM page I'd be interested in the plug-ins you mentioned. I'm presuming they auto-refresh the page quickly, or are they flashier than that. Any chance of pointing this computer illiterate towards a plug-in?
Cheers
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 31, 2016 11:53:29 GMT
Flaky Computing It's really frustrating you see tempting loan parts on the listing, go to buy them and they aren't there, refresh the listing see tempting loan part... rinse and repeat
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 29, 2016 12:28:50 GMT
Hor
You seem determined to prove that FC continue to do exactly what you expected them to do. Perhaps you might consider the words of wisdom on FC's withdrawals page which state "It usually takes 3 working days to get money to your account.". While blind optimism might be a nice state of mind to maintain, it will tend to lead to disappointment. Perhaps it is time to accept that FC is not suited to your just-in-time aspirations?
Doctor, every time I bang my head against the wall it hurts. How can I stop it hurting?......
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 18, 2016 17:13:04 GMT
Given that Hendon 10 is 87% filled in 24 hours and the Luton loan 21386 is 26% funded in 4 hours I would suggest that the rates on the original pulled loans were too low at 8% without cashback support. I notice that in the Q&A FC note Given the option to increase the rate is written into the loan agreements perhaps it is time to organise a buyers strike on all 8% property loans to push them to a more respectable rate.
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