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Post by picanto on Jan 21, 2018 20:03:38 GMT
Hi. For a while now, I've noticed on my 'selling loans' tab the interest I've earned on the loans that I'm in the process of selling drops daily. Although as far as I'm aware, the interest paid at the end of the month is correct. Does anybody else experience this?
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webwizard
Member of DD Central
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Post by webwizard on Jan 21, 2018 22:20:50 GMT
When you put a loan up for sale it no longer earns interest. However, if you cancel the sale, it starts earning again from the point of cancellation.
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Post by GSV3MIaC on Jan 22, 2018 10:34:40 GMT
Well yes, but that would just make the interest on the loan part stay static. If it actually drops, you are being double-dipped, which IIRC is a known problem with Ly's math(s) and has been discussed at length. So far I don't think anyone has claimed the actual payments have been wrong, just what is shown on the various web pages.
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Post by picanto on Jan 28, 2018 13:07:40 GMT
Well my interest for this current loan which I am selling has dropped from around £4 to £0.00... Nice.
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0risk
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Post by 0risk on Jan 28, 2018 14:11:40 GMT
Well my interest for this current loan which I am selling has dropped from around £4 to £0.00... Nice. Great, more work to do. I never cared checking this. How do you notice this? Checking daily the interest on the Selling Loans page? This number should stay the same, right?
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Post by davids on Jan 28, 2018 14:33:11 GMT
i was considering selling a loan which seems to be growing on the SM, but i think i might not after seeing this and hang onto it to completion
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Post by picanto on Jan 29, 2018 0:55:24 GMT
Well my interest for this current loan which I am selling has dropped from around £4 to £0.00... Nice. Great, more work to do. I never cared checking this. How do you notice this? Checking daily the interest on the Selling Loans page? This number should stay the same, right? Pretty much yeah. It's just an annoying fault I've noticed and wondered if anybody else experiences this fault. At the end of each month, the paid interest is correct as it should be, but on the loans that are selling it appears that the interest earned drops on a daily basis. Therefore the total sum of the sub totals for each loan section (i.e. live loans, selling loans, repaid loans and sold loans) is lower than the total interest paid when viewed in the tax statement on interest payday (when they should be equal assuming all interest is on account and not accruing). It's just an annoying bug that makes it confusing and a bug that shouldn't really happen on a professional platform.
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0risk
Member of DD Central
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Post by 0risk on Jan 29, 2018 11:30:08 GMT
Thanks a lot for the explanation, Picanto. I'll certainly keep an eye on this number now.
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0risk
Member of DD Central
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Post by 0risk on Jan 30, 2018 11:56:14 GMT
All my loans on sale showed less interest today. A few p in each of them.
What a disgusting bug !
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nick
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Post by nick on Jan 30, 2018 20:22:30 GMT
There have been long standing issues over the accuracy of interest earned reported for each of live, repaid, selling and sold loan parts under 'my loans'. I have have hundreds of discrepancies at individual loan part level and have long given up placing any significant reliance on the reported interest earned numbers under 'my loans'. However, the interest actually paid is generally correct bar a few exceptions..........
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Post by picanto on Feb 7, 2018 15:48:34 GMT
Is this not an easy fix though? I'm no IT expert by any stretch of the imagination but surely those who coded the platform could solve this issue with a few minor alterations to make the interest add up correctly?
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warn
Member of DD Central
Curmudgeon
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Post by warn on Feb 8, 2018 8:26:44 GMT
Is this not an easy fix though? I'm no IT expert by any stretch of the imagination but surely those who coded the platform could solve this issue with a few minor alterations to make the interest add up correctly? Unless they're too busy revising for their GCSEs.
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jcb208
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Post by jcb208 on Feb 18, 2018 8:14:07 GMT
Is interest calculated to the exact time you hold the loan now,I have noticed that something I bought yesterday afternoon still has not accured interest . You used to received the interest as long as you held the loan at midnight.
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star dust
Member of DD Central
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Post by star dust on Feb 18, 2018 10:13:53 GMT
I noticed that a while ago. As far as I can tell it only applies to the first 'midnight' that you hold the loan, and if you sell it following the first midnight, even before the second midnight you will still get the interest due. I think the display of interest accumulating reverts to the 'normal' display, after the second midnight.  ~ prepares to be shot down in flames |
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~ prepares to be shot down in flames