mary
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Post by mary on Feb 7, 2018 13:04:26 GMT
Check out the new Partially Repaid tab and see if you can work it out, as I can't!
In all cases the "repaid" amount is higher than the loan amount? Therefore I assumed that the "loan" amount would be the balance of the loan outstanding - however adding this to the "capital repaid" amount and the total is higher than the "asset value".
I'm fairly sure that PLB120 has had only a small amount repaid, not the £1.5m listed, but I don't know about the other loans.
Clear as mud.
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Post by picanto on Feb 7, 2018 13:07:51 GMT
I think it's in the 'work in process' stage. Apparently all the partial repayments were made today and I don't think that's the case somehow...
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sl75
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Post by sl75 on Feb 7, 2018 15:51:10 GMT
Check out the new Partially Repaid tab and see if you can work it out, as I can't! In all cases the "repaid" amount is higher than the loan amount? Therefore I assumed that the "loan" amount would be the balance of the loan outstanding - however adding this to the "capital repaid" amount and the total is higher than the "asset value". I'm fairly sure that PLB120 has had only a small amount repaid, not the £1.5m listed, but I don't know about the other loans. Clear as mud. In several cases, the partial repayment also removes part of the asset (usually because that part of the asset was sold to another party, and the completion funds used to make the partial repayment), so the asset value was reduced accordingly. It would be expected in such cases to have "asset value" less than "capital repaid"+"[remaining] loan". Earlier today there had been an extra tab on the main loan's details page which tabulated the partial payments to date, with each also showing the reduction in asset value where applicable, but that seems to have been removed.
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webwizard
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Post by webwizard on Feb 7, 2018 16:10:37 GMT
It would be nice if the partially repaid tab outlined the total loan, how much has been repaid and what the outstanding amount is. At present the numbers do not add up and where multiple repayments have been made these are not evident. A development in the right direction, so let's get it better and usable.
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webwizard
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Post by webwizard on Feb 9, 2018 8:02:33 GMT
The dates listed on the partially repaid tab appear to have an error, listed as repaid on 9/2/2018. Funny thing is yesterday they were listed as 8/2/2018 and the day before that another day earlier. I cannot believe that these payments are being made daily so there is a coding error on the platform. For a new feature this seems light on testing before role out.
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mary
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Post by mary on Feb 9, 2018 9:08:32 GMT
I think this is the testing, as any idiot could check a few numbers before going live.
Anyhow the current format is entirely meaningless.
Meaningfully would be...
Date of repayment, original loan amount, repayment amount, loan amount outstanding, remaining LTV.
If original asset value is included, then remaining asset value is also required as, for partial sales of a development, the remaining asset value declines with a partial sale. Interest/Bonus rats are a nice to have.
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webwizard
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Post by webwizard on Feb 10, 2018 7:07:53 GMT
Once again 9 of the loans indicate they were repaid on 10/2/2018 and seem to be incrementing daily. This is clearly an error but perhaps there could be other errors in the values themselves, or calculation of interest as this demonstrates the lack of care whilst coding the platform. A careful check and redesign is required.
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Post by loftankerman on Feb 10, 2018 10:48:48 GMT
Once again 9 of the loans indicate they were repaid on 10/2/2018 and seem to be incrementing daily. This is clearly an error but perhaps there could be other errors in the values themselves, or calculation of interest as this demonstrates the lack of care whilst coding the platform. A careful check and redesign is required. Ah! Coding, there’s a term describing a dead art, if ever there was one. These days coding seems to have been mostly discarded in favour of having someone allegedly capable of producing web pages from templates to make sites look nice and having the skills to hack in some misunderstood, unverified open source functions from the Internet. Why would you expect anything to work?
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warn
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Post by warn on Feb 10, 2018 11:05:05 GMT
Ah! Coding, there’s a term describing a dead art, if ever there was one. Not quite dead yet, but I agree it's ailing. No, the truly dead art is testing.
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Post by GSV3MIaC on Feb 10, 2018 15:48:51 GMT
It's not dead; testing has merely been outsourced (or it is crowdsourced?) to the end users. I blame the WWW .. in the old days when a software screwup had to be fixed by shipping a pile of floppy disks, or a 6ft stack of punch cards, to every affected user, the fix was expensive enough to justify testing (a lot). These days patches can be released without half (99% really) of the users even noticing it happened, so 'fix if required' is much cheaper than testing. Users are also inured to receiving beta-quality junk, so they put up with it (and as we know, 'you get what you put up with').
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Post by picanto on Feb 15, 2018 13:32:10 GMT
I'm very confused about this, there are now loans that say are partially repaid (e.g. PBL057, PBL148, PBL174) but these don't appear in the "partially repaid" tab. I have no idea what is going on...
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webwizard
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Post by webwizard on Feb 15, 2018 13:45:36 GMT
I'm very confused about this, there are now loans that say are partially repaid (e.g. PBL057, PBL148, PBL174) but these don't appear in the "partially repaid" tab. I have no idea what is going on... Looks like Lendy have been reading this thread. The partially repaid tab is now something different. It lists the outstanding capital and the dates of repayment are now correct (and not incrementing on a daily basis). There are clearly other loans where partial capital repayment has happened but perhaps their update has not yet got around to updating the details. In a state of flux at present so lets see how this changes over the next few days.
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webwizard
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Post by webwizard on Aug 3, 2018 22:40:36 GMT
Another code change on the Lendy website.
It appears that all the partially repaid loans have disappeared from the repaid tab.
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