Ace
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Post by Ace on Nov 14, 2021 19:00:57 GMT
UPDATE: 11 interest payments were made on Friday after 17:54. The number of interest payments in my Pending Transaction list has correspondingly reduced from 20 to 9.
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ton27
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Post by ton27 on Nov 15, 2021 17:22:12 GMT
UPDATE: 11 interest payments were made on Friday after 17:54. The number of interest payments in my Pending Transaction list has correspondingly reduced from 20 to 9. @crowdproperty - it would be good if you can acknowledge you have seen this thread and intend to provide an explanation
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Nov 16, 2021 14:09:28 GMT
I have not logged onto my account for several weeks so was pleased to see the wallet transfer system which I have been awaiting for ages. I don't know when it was introduced and I did not notice any reference to it on this forum nor receive any notification from CP. However the Pending Transactions is obviously very buggy. I have one listed which was a successful withdrawal made 8 months ago. I don't mind if they do it again though  . |
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markyg61
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Post by markyg61 on Nov 16, 2021 15:05:16 GMT
Response to my query about Pending Transactions
"Hi Mark, Many thanks for getting in touch. We are aware that the pending transactions tab is incorrectly showing some historic duplicate or failed transactions as pending, as well as pending transactions. We will be releasing an upgrade shortly to ensure this only shows current pending transactions. Please accept our apologies for any confusion or inconvenience caused. If you have any questions about specific transactions, please let us know and I will be happy to help. Kind regards, Ab"
***EDIT***
Just checked again and all "pending transactions" have now been cleared. An empty list
***END EDIT ***
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sussexpeer
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If you don't make a plan, you'll end up where you're headed.
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Post by sussexpeer on Nov 16, 2021 15:55:11 GMT
UPDATE: 11 interest payments were made on Friday after 17:54. The number of interest payments in my Pending Transaction list has correspondingly reduced from 20 to 9. I have also had my pending transactions wallet cleared, and received this reply: >>> Dear Professor Hetherington-Smythe, Many thanks for getting in touch. We are aware that the pending transactions tab is incorrectly showing some historic duplicate or failed transactions as pending, as well as pending transactions. We will be releasing an upgrade shortly to ensure this only shows current pending transactions. Please accept our apologies for any confusion or inconvenience caused. Kind regards, >>>
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littleoldlady
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Post by littleoldlady on Nov 16, 2021 20:37:14 GMT
It's good that they fixed it [edit: are fixing it - see next post] quite quickly, but worrying that they can release new software without checking it properly. A different bug could have serious consequences.
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Ace
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Post by Ace on Nov 16, 2021 21:49:23 GMT
It's good that they fixed it quite quickly, but worrying that they can release new software without checking it properly. A different bug could have serious consequences. I don't think it's fixed yet. Just zeroed so that the erroneous entries aren't displayed, and replaced with a link to transaction history that doesn't work.
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Ace
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Post by Ace on Nov 23, 2021 21:00:23 GMT
CP's professionalism crown seems to have become rather tarnished in my view. Here's the guts of an email I sent them 8 days ago. So far there has been no response other than the automatic one that says they will reply within 2 days:
I haven't received any further interest payments since the batch on the 12th.
I would tag CP, but what would be the point. They don't reply on here anymore and they've stopped replying to messages.
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Post by overthehill on Nov 23, 2021 23:23:20 GMT
CP's professionalism crown seems to have become rather tarnished in my view. Here's the guts of an email I sent them 8 days ago. So far there has been no response other than the automatic one that says they will reply within 2 days: I haven't received any further interest payments since the batch on the 12th. I would tag CP, but what would be the point. They don't reply on here anymore and they've stopped replying to messages.
They haven't stopped reading the forum, I suspect.
I'll be checking more completed loans for interest accuracy than I usually do , it's not an easy task due to platform design, tracing the default interest start date, elastic loan end dates, unfit for purpose message/loan update system. Also given the inconsistencies highlighted does the spreadsheet reflect reality?
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Ace
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Post by Ace on Nov 23, 2021 23:34:27 GMT
CP's professionalism crown seems to have become rather tarnished in my view. Here's the guts of an email I sent them 8 days ago. So far there has been no response other than the automatic one that says they will reply within 2 days: I haven't received any further interest payments since the batch on the 12th. I would tag CP, but what would be the point. They don't reply on here anymore and they've stopped replying to messages.
They haven't stopped reading the forum, I suspect.
I'll be checking more completed loans for interest accuracy than I usually do , it's not an easy task due to platform design, tracing the default interest start date, elastic loan end dates, unfit for purpose message/loan update system. Also given the inconsistencies highlighted does the spreadsheet reflect reality?
That's a very good point. I had assumed that the downloaded transaction list was a definitive record, but there's no way I can be sure that it really is. Payments into my account do seem to coincide with entries in the transaction list, but I've never checked whether they exactly match, and I've never checked that those entries correctly make it into the downloaded transaction list.
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markyg61
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Post by markyg61 on Nov 24, 2021 7:07:14 GMT
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Post by overthehill on Nov 24, 2021 10:06:34 GMT
They haven't stopped reading the forum, I suspect.
I'll be checking more completed loans for interest accuracy than I usually do , it's not an easy task due to platform design, tracing the default interest start date, elastic loan end dates, unfit for purpose message/loan update system. Also given the inconsistencies highlighted does the spreadsheet reflect reality?
That's a very good point. I had assumed that the downloaded transaction list was a definitive record, but there's no way I can be sure that it really is. Payments into my account do seem to coincide with entries in the transaction list, but I've never checked whether they exactly match, and I've never checked that those entries correctly make it into the downloaded transaction list.
I was thinking more of the pledge spreadsheet with the loan start/end dates and interest paid, I've never correlated it against the transaction list or my balance! To my knowledge default interest is not split out and has to be taken on trust. I would be amazed if there were irregularities but I will say that the money from one of my cancelled pledges disappeared into a wormhole for a few days before I had to rescue it, CP's initial response was "you're wrong".
I think their platform software is a bit of a mare, I would categorise CP as proptech certainly not fintech. Their payment in and out system has always been instant. If they are going to grow they need to focus more on the infrastructure and support or it will just consume resources for fun. They are at the opposite end of the fintech spectrum to Property Partner however with CP my annual ROI is 8% and with PP it's 0.6%.
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Ace
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Post by Ace on Nov 24, 2021 18:11:59 GMT
I finally got an interest payment today, so I've taken a detailed look at payments from this loan. Tagging CrowdProperty Representative for comment in the faint hope that they might be embarrassed into 'fessing up and accepting that they need to address the issue of late payment of retained interest (amongst other issues). The loan in question is K***s V**e M**s, S*********h Rd, G*******d, phase 1. The loan details state that interest will be retained and payed monthly. ( In contradiction to the loan factsheet that states that capital and interest will be received at the end of the loan period). Loan start date was 23/11/2020. I've assumed that interest due dates are 23rd of each month since that seems reasonable and agrees with most of the dates stated in the Pledge Transactions table. I've assumed that the dates given in my downloaded transaction list are the correct dates when interest was actually paid (today's payment is correctly entered in this list, so the assumption looks reasonable). Interest due Wed 23/12/2020 paid on due date. Interest due Sat 23/1/2021 paid Mon 25/1/2021 (no big deal as presumably delayed due to weekend). Interest due Tue 23/2/2021 paid Wed 24/1/2021 (1 day late). Interest due Tue 23/3/2021 paid Thu 8/4/2021 ( 16 days late). Interest due Fri 23/4/2021 paid on due date. Interest due Sun 23/5/2021 paid Tue 25/4/2021 (1 day late after allowing for weekend). Interest due Wed 23/6/2021 paid Fri 25/6/2021 (2 days late). Interest due Fri 23/7/2021 paid on due date. Interest due Mon 23/8/2021 paid Wed 25/8/2021 (2 days late). Interest due Thu 23/9/2021 paid Mon 28/9/2021 ( 5 days late). Partial capital repayment 28/9/2021 plus interest payment equal to 4 days interest on amount repaid (which seems reasonable). Interest due Sat 23/10/2021 paid today Wed 24/11/2021 ( 32 days late). Interest due Tue 23/11/2021 (unpaid, currently 1 day late). Note that all monthly interest payment dates in the Pledge Transactions table were on the 23rd up until the latest entry which changed to 24/10/2021 (which was paid today 24/11/2021). There's no entry in the table for the payment due yesterday, which is as yet unpaid. I repeat my main question: why can't payments from retained funds be automatically made on the due dates? Why aren't lenders being made aware of the issues, and what are CrowdProperty doing to address them. |
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Post by brummiefred on Nov 24, 2021 20:39:39 GMT
Your interest payment today is more likely because the capital repayment was made, and not because the 'stalled' payments of ANY interest since 12 November has been resolved.
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Ace
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Post by Ace on Nov 24, 2021 20:52:22 GMT
Your interest payment today is more likely because the capital repayment was made, and not because the 'stalled' payments of ANY interest since 12 November has been resolved. Then new capital and associated interest payment came in after my above post. I can't work out what the associated interest payment is supposed to cover. It looks plain wrong to me.
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