cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 11, 2016 13:47:40 GMT
Yes, give or take a few days, that looks to be the issue! At least this makes (some sort of) sense now. I'm more concerned about that large negative interest than the small positive  Has anyone emailed SS about this? According to my repaid loans I owe them over £400.  I haven't because I didn't have investments in the original loan, and don't know the in's & out's of the bug. I'm sure SS know about the issue and are working on fixing it... However, how SS solve the issue is going to be interesting; as far as I read this bug, SS now owe interest to investors in PBL025 (from February?), but the rollover and allocation have been completed, with no funds left over. 
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treeman
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Post by treeman on Jul 11, 2016 14:06:38 GMT
Has anyone emailed SS about this? According to my repaid loans I owe them over £400. I haven't because I didn't have investments in the original loan, and don't know the in's & out's of the bug. I'm sure SS know about the issue and are working on fixing it... However, how SS solve the issue is going to be interesting; as far as I read this bug, SS now owe interest to investors in PBL025 (from February), but the rollover and allocation have been completed, with no funds left over. Yes, I pinged a query to SS - nothing back yet
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ped
Member of DD Central
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Post by ped on Jul 11, 2016 14:07:10 GMT
I had interest paid on 25 from last month on the 1st so only the interest in July is missing, and I would think SS could communicate what is happening to it if someone emails them. ??
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treeman
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Post by treeman on Jul 11, 2016 14:28:44 GMT
Just had this back from SS
Hi T,
Thanks for your email. The interest has not disappeared, it will just be listed under repaid loan parts and the interest is now under DFL003 so will be credited at the end of the month.
Kind regards,
Customer Services Team
Saving Stream
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moist
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Post by moist on Jul 11, 2016 14:56:26 GMT
my interest of PBL25 is showing as -546.35 ..... SS reply does not resolve it...
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fp
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Post by fp on Jul 11, 2016 15:04:55 GMT
Just had this back from SS Hi T,
Thanks for your email. The interest has not disappeared, it will just be listed under repaid loan parts and the interest is now under DFL003 so will be credited at the end of the month.
Kind regards,
Customer Services Team
Saving Stream
Is this what you see? Does your overall interest due on the Repaid page look right. My Repaid page shows that I owe SS interest overall (which is nonsense). And there is no interest attributed to my live DFL003 loan part because it has just gone live today. (I haven't had my reply to this question yet) My interest is showing as a negative figure, yet when I open up the loan parts they are showing has having 4 months interest due with what appears to be the correct amount of credit at the side of them for 4 months interest, this is all good, but I bought 80% of my holding in the PBL25 on Saturday so i'm due a fraction of the amount, the negative balance showing is a only a few pence different to the positive balance shown in the loan parts, my account balance still shows as zero which is correct.
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treeman
Member of DD Central
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Post by treeman on Jul 11, 2016 15:07:54 GMT
Just had this back from SS Hi T,
Thanks for your email. The interest has not disappeared, it will just be listed under repaid loan parts and the interest is now under DFL003 so will be credited at the end of the month.
Kind regards,
Customer Services Team
Saving Stream
Is this what you see? Does your overall interest due on the Repaid page look right. My Repaid page shows that I owe SS interest overall (which is nonsense). And there is no interest attributed to my live DFL003 loan part because it has just gone live today. (I haven't had my reply to this question yet) Apologies - had to run just as I posted the above - one of our 'new' near-neighbours hasn't quite got the whole gate-shutting thing sussed yet  ........... been rounding up very excitable sheep ......... No this doesn't stack up.....I could understand if it added up to what I believe is accrued on PBL025 parts - it's way more than that. Will download the data, do sums and fire back to SS
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lofty
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Post by lofty on Jul 11, 2016 15:17:14 GMT
my interest of PBL25 is showing as -546.35 ..... SS reply does not resolve it... Indeed, still not right for me. Showing as a negative interest amount in the repaid loanparts (although if you click on the show all loanparts, it appears as a positive). The DFL003 loanpart has a age of 0 days - hence no interest showing. I suspect their email response is what they *plan* to happen, but looks like some gremlins have got into the system... Like others on the forum I bought a part in the old loan a few days ago so that it would automatically roll into the new one, and at present I've been hit with about a -%4.75 interest payment. I'm only in for a small sum, but there was over 60K available the other day, so its possible there's some BH out there who's going to get a very nasty shock if they look at repaid loanparts tonight. Not panicked though - just a few tweaks in the data in the backend should clear it all up nicely.
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treeman
Member of DD Central
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Post by treeman on Jul 11, 2016 15:23:44 GMT
Looking quickly - it appears that the PBL025 parts rolled over (likewise I only bought them in the last few days) have all got an end date showing as 17 / 2 / 16. ie 4.5 months negative duration. This would explain the -ve interest values on the Repaid Loans page.
Unless I've got this completely bass-ackwards, it's a fat-finger situation ........
I'll reply to SS
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treeman
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Post by treeman on Jul 11, 2016 15:31:35 GMT
I got the same fob off answer... so I have sent back a reply with all the calculations to show how they should work out their own wrong figures :-) I can recreate the negative interest by using days between 17-Feb and the date I bought the loan part. So I am being charged negative interest for a period I didn't own the loan, instead of positive interest for when I did. Mind blowing really :-) Yes agreed - simple data entry goof I suspect..............
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lofty
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Post by lofty on Jul 11, 2016 15:48:02 GMT
The developer in me says that it's a software error - I don't recall ever seeing an account with negative days actually getting settled, so has this scenario ever have been tested in live? I bet myself a jam tart that its a classic MIN(end_date, SYSDATE()) or MAX(end_date, SYSDATE()) type of error.  However its nice to see the interest showing up a positive when you export the data to Excel - that'll be a nasty shock to the guy balancing the books at SS... |
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bloodycat
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Post by bloodycat on Jul 11, 2016 16:08:06 GMT
It is showing the end date as 17th February on my transaction statement (which presumably was the original target end date). Surely it should have Today's date as the actual end otherwise it makes the transaction statement look like nonsense (4 interest payments after the loan had supposedly finished).
Under repaid loans it is also only showing the total received interest as if up to 17th February. I'm guessing the figures are calculated from the purchase date and end date rather than actually totaling up the entries from your transaction statement, hence the discrepancy and why anyone who bought after 17th February is showing a negative interest recieved.
Presumably, since the parts have been rolled over into DFL003 rather than actually being repaid, the accrued interest for this month will be paid at the end of the month rather than credited today as would be the case if it had bee repaid. Wonder if that will be listed on the statement as a single payment under DFL003 or as two separate payments so that it doesn't look like too much has been paid on PBL003 for this first partial month.
I do hope we aren't going to end up in similar situation to over at FC where it is virtually impossible to accurately check your statements without keeping your own separate spreadsheets.
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ped
Member of DD Central
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Post by ped on Jul 11, 2016 16:40:40 GMT
Is 2256 the most investors in anyone loan?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 11, 2016 16:45:40 GMT
Is 2256 the most investors in anyone loan? I think it might be. Certainly the most investors at live. Considering recent events I'm quite surprised... although SS did have a captive audience (1500 from memory...)
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dan83
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Post by dan83 on Jul 11, 2016 20:19:47 GMT
Is 2256 the most investors in anyone loan? I think it might be. Certainly the most investors at live. Considering recent events I'm quite surprised... although SS did have a captive audience (1500 from memory...) £77 seems abit of a joke, I know they share it around so everyone gets a bite of the cherry, but £77. My pre-funding was £100 and I've never failed to get £100. I'll either wait for £33 to come up on the secondary market or sell it, just to keep numbers easy.
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........... been rounding up very excitable sheep .........