jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808 
Likes: 3,240
|
Post by jonno on Aug 18, 2015 17:16:05 GMT
I feel your pain, but feel obliged to point out that the exact same fiasco went on for many, many months with FS before they got their act together, so they perhaps aren't the best comparison. Even the introduction of bidding limits didn't stop it until they eventually, after many attempts, got the IT sorted. It took more than simple addition of capacity - they had to re-implement the platform software. So, whilst I do agree they have it right now, it wasn't always that way. Maybe that's why I've got a bit more patience about this than most - I've seen much worse and am confident they'll get it sorted. Rose, I'm with you on this one. There are a number of issues with SS and let's hope they get them sorted but I will stick with them for now. Something to do with not cutting your nose off to spite your face. I'm not saying that this is a binary option of just stay or go; a far too immature response. However if we don't vent our opinions then how are we ever going to improve on this pathetic performance?
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Aug 18, 2015 17:30:40 GMT
Rose, I'm with you on this one. There are a number of issues with SS and let's hope they get them sorted but I will stick with them for now. Something to do with not cutting your nose off to spite your face. I'm not saying that this is a binary option of just stay or go; a far too immature response. However if we don't vent our opinions then how are we ever going to improve on this pathetic performance? I agree Jonno. I too want the performance to improve and I'm happy to be critical. But there have been a number of posters saying that they have had enough and are going to leave. Everyone is entitled to their own view (and if some lenders go that will leave more for the rest of us) but my view is that I will put up with the pathetic performance for a while longer because I like the fundamental offering even if it is currently being delivered badly.
|
|
|
|
Post by Financial Thing on Aug 18, 2015 17:47:59 GMT
hmm...reminds me of the property boom in 2004-6 when houses put up for sale were gone in a matter of minutes / hours.  |
|
|
|
Post by bollidear on Aug 18, 2015 17:52:29 GMT
Pathetic email just received that is a generic "sorry" attempt. Made no reference to my specific comments. Jokers.....
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Aug 18, 2015 17:54:32 GMT
I'm not saying that this is a binary option of just stay or go; a far too immature response. However if we don't vent our opinions then how are we ever going to improve on this pathetic performance? I agree Jonno. I too want the performance to improve and I'm happy to be critical. But there have been a number of posters saying that they have had enough and are going to leave. Everyone is entitled to their own view (and if some lenders go that will leave more for the rest of us) but my view is that I will put up with the pathetic performance for a while longer because I like the fundamental offering even if it is currently being delivered badly. Don't worry - some will surely leave, and it's reasonable because everyone should and will lend where they want to. I do agree that selling out of loans out of sheer annoyance would be daft, but not many will actually do that - they might just run the loan book down. Some are just venting, pure and simple. Many's the time that I've seen people post that they're taking their momey to a platform that functions and cares or whatever they feel is lacking from the platform in question when they mess something up; but they then continue to post about the merits of various new loans, their name appears in the lender list for them and basically they've calmed down. It happens regularly, because most p2p platforms mess up. And most lenders are human and not 'bots'. Yet 
|
|
jonbvn
Member of DD Central
Posts: 326
Likes: 95
|
Post by jonbvn on Aug 18, 2015 18:07:55 GMT
Disgusting - took a 15 minutes break from trying to break in and everything gone (again - lost out on last one 50 (?) too). Why oh why send out the bloody email so all the rich b***ds can throw in their >£50k wads? Full marks to sites like FS who put a 24 hour limit on new bids and have servers that can cope. I would add MT to that who do exactly the same thing. Makes life so much easier......
|
|
|
|
Post by pepperpot on Aug 18, 2015 18:13:33 GMT
I agree Jonno. I too want the performance to improve and I'm happy to be critical. But there have been a number of posters saying that they have had enough and are going to leave. Everyone is entitled to their own view (and if some lenders go that will leave more for the rest of us) but my view is that I will put up with the pathetic performance for a while longer because I like the fundamental offering even if it is currently being delivered badly. Don't worry - some will surely leave, and it's reasonable because everyone should and will lend where they want to. I do agree that selling out of loans out of sheer annoyance would be daft, but not many will actually do that - they might just run the loan book down. Some are just venting, pure and simple. Many's the time that I've seen people post that they're taking their momey to a platform that functions and cares or whatever they feel is lacking from the platform in question when they mess something up; but they then continue to post about the merits of various new loans, their name appears in the lender list for them and basically they've calmed down. It happens regularly, because most p2p platforms mess up. And most lenders are human and not 'bots'. Yet I'm taking my momey elsewhere, on Friday night for a meal. 
|
|
adrianc
Member of DD Central
Posts: 10,015
Likes: 5,144
|
Post by adrianc on Aug 18, 2015 18:16:03 GMT
...with a website that is not fit for purpose? I think the website's issues aren't so much the cause, but a symptom. The root cause seems to be the lack of sufficient loan supply to meet the lender demand. If they had that right, then there wouldn't have been this mad scrum.
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Aug 18, 2015 18:21:30 GMT
...with a website that is not fit for purpose? I think the website's issues aren't so much the cause, but a symptom. The root cause seems to be the lack of sufficient loan supply to meet the lender demand. If they had that right, then there wouldn't have been this mad scrum. That's right. The market is failing to balance supply and demand. According to economic theory there should be another platform offering borrowers a better deal.
|
|
|
|
Post by Deleted on Aug 18, 2015 18:33:06 GMT
I agree technical difficulties SS is facing is disheartening and frustrating but I would be cautious to say to increase supply as that might dilute the quality of loans that SS can source.
|
|
pom
Member of DD Central
Posts: 1,922 
Likes: 1,244
|
Post by pom on Aug 18, 2015 18:33:46 GMT
Rather amusingly I've just found a deposit confirmation email thanking me of my instant account credit of £ asking me to BACS the exact same amount. So I guess that explains why I got deposit confirmed messages but had nothing to invest..
|
|
adrianc
Member of DD Central
Posts: 10,015
Likes: 5,144
|
Post by adrianc on Aug 18, 2015 19:01:54 GMT
According to economic theory there should be another platform offering borrowers a better deal. Ah remember, when ah were a lad, all this were fields around 'ere... p2pindependentforum.com/#category-15
|
|
|
|
Post by yorkshireman on Aug 18, 2015 19:06:47 GMT
It happens regularly, because most p2p platforms mess up. That’s a rather worrying statement, whilst the banks do have problems at times you can hardly say that most banks mess up when it comes to processing figures so why should p2p platforms be excused for their mess ups? To err is human but p2p platforms are responsible for other people’s money and this is a recurring problem with SS.
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Aug 18, 2015 19:18:42 GMT
I think the website's issues aren't so much the cause, but a symptom. The root cause seems to be the lack of sufficient loan supply to meet the lender demand. If they had that right, then there wouldn't have been this mad scrum. That's right. The market is failing to balance supply and demand. According to economic theory there should be another platform offering borrowers a better deal. Unfortunately, in the meantime, economic theory suggests that SS should be paying less than 12%...
|
|
|
|
Post by Deleted on Aug 18, 2015 19:32:38 GMT
It is important for lenders to be critical of those that hold their savings.
I think the saying goes .... A fool and his money are soon parted.
|
|
