mikes1531
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Post by mikes1531 on Jan 22, 2014 23:53:26 GMT
As a separate issue... Just above the clickable button that doesn't work are the words "Set your own APR." Nowhere on the website have I seen any indication that the borrower has any control over their APR except, perhaps, by borrowing more than they need in order to get into a lower admin fee zone, and that's probably not what's meant by the comment. So is that still a valid comment? If so, how does a borrower do that? In the past they have told us that the borrower chooses their interest rate, and that FS don't fix it for them (it was raised in the early days on the Zopa forum, before this forum existed). Experience has shown that the lower interest rates didn't get filled in time as lenders didn't find the additional risk was worth it unless the LTV was particularly low, so they advise the borrower what rate is likely to get their loan filled quickly. It isn't something they do via the website, but in discussion with FS. The loan is then listed at the rate the borrower chooses to go with. And virtually all of them choose to go with 13%! OK, it is still a choice.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jan 23, 2014 0:10:54 GMT
When you add in the enormous percentages being paid to FS then a couple of percent either way to the lenders is almost neither here nor there really. And long may it continue!
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andy2001
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Post by andy2001 on Jan 23, 2014 1:25:41 GMT
They changed that some time ago. Making 13% a standard rate, but then they also tried some with a lower rates when it was a very low LTV.
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starfished
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Post by starfished on Jan 28, 2014 22:45:42 GMT
Just to follow up on this. My additional investment though listed amongst lenders did not make it as the FS computers got themselves confused. Now given that I already had a first investment successfully included in that loan and that I am very much small fry compared to others, FS could have apologised profusely but done nothing more. Instead they have made a not requested credit to my account as way off apology, when I asked if that loan was in or out. The difficulties reported on the board today did not impact me (as I was tied up in meetings most of the afternoon) but I have to say I really do hope FS can resolve their technical issues. Yes still early days but FS, to date, seem to be a very good customer service orientated people trying to drive forward a good idea...
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bugs4me
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Post by bugs4me on Jan 28, 2014 23:00:29 GMT
Just to follow up on this. My additional investment though listed amongst lenders did not make it as the FS computers got themselves confused. Now given that I already had a first investment successfully included in that loan and that I am very much small fry compared to others, FS could have apologised profusely but done nothing more. Instead they have made a not requested credit to my account as way off apology, when I asked if that loan was in or out. The difficulties reported on the board today did not impact me (as I was tied up in meetings most of the afternoon) but I have to say I really do hope FS can resolve their technical issues. Yes still early days but FS, to date, seem to be a very good customer service orientated people trying to drive forward a good idea... My experience of FS customer service has been excellent but the website really is the problem (again). Underneath all of this I firmly believe they have a good idea and they need to divert their resources to that website. The front end looks good but it's what's going on in the background that is failing time and time again. Do whatever is necessary, stress test it until it breaks before allowing it to go live. At this rate I can see folks gradually drifting away.
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mikes1531
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Post by mikes1531 on Jan 29, 2014 4:41:26 GMT
And in the meantime...
Don't let multiple auctions go live at the same time; and
Impose low maximum bid amounts for the first day after a loan goes live -- possibly as low as 1% of the loan value -- so that there's no urgency to place bids in the first few seconds after a loan goes live.
Actually, I'd prefer that low limit on bids all of the time, even after the website could handle a big rush of bids, because of all the pressure it would take off lenders to be at their PCs at just the right moment.
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mikes1531
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Post by mikes1531 on Feb 14, 2014 12:59:15 GMT
I've tried reporting this problem directly to FS two weeks ago, but have had no response. I'll try again here and see if I have any better luck.
Since 30/Jan, every time I've had a loan activated, the email I received from FS (Richard Luxmore) said...
... and that's all there was!
It also gives me a chance to ask whether this problem is unique to me or whether others are having the same problem.
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Post by Come_on_Grandad on Feb 14, 2014 13:13:47 GMT
It also gives me a chance to ask whether this problem is unique to me or whether others are having the same problem. Me too but, despite reading these emails, I hadn't noticed!! Presumably I'm getting to the loan activated phrase and filing the message away before I've read the rest. Last correct email of this type for me was 24th Jan.
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Post by elljay on Feb 15, 2014 16:29:53 GMT
Me three.
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mikes1531
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Post by mikes1531 on Feb 20, 2014 2:08:37 GMT
I received a message from FS today. It said...
The link does not work. The system response is...
Does anyone know what the URL should have been?
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mikes1531
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Post by mikes1531 on Feb 20, 2014 2:12:55 GMT
Bug Report:
There still is an inconsistency between the Percentage Funded and Amount Funded as shown on the Live Loans page and those same numbers as shown on the individual auction page.
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Post by elljay on Feb 20, 2014 8:07:14 GMT
Does anyone know what the URL should have been? I queried that too - the answer I got was it only works when you are logged in, but it doesn't work then either...
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Feb 20, 2014 11:41:31 GMT
Indeed it does not.
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mikes1531
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Post by mikes1531 on Feb 20, 2014 18:36:44 GMT
Bug Report:There still is an inconsistency between the Percentage Funded and Amount Funded as shown on the Live Loans page and those same numbers as shown on the individual auction page. I saw the same yesterday but it seems to be correct today, might just be the system being a bit slow. edit: a couple of bids later and it's back out of sync. And now it's way out out of sync. The loan page shows the loan fully funded, and the Live Loans page shows it still has over £1600 unfunded. No doubt that will frustrate anyone who sees the Live Loans page, thinks they have an investment opportunity, and then goes to place a bid and finds they can't!
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Post by elljay on Feb 24, 2014 19:12:46 GMT
I'm still getting messages with bits missing:
I've only "xxx"d out my userid - the rest is exactly as received.
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