hazellend
Member of DD Central
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Post by hazellend on Dec 5, 2016 19:04:32 GMT
Does anybody else find it disconcerting that savingstream don't give a loan update for loans that are within 2 - 4 weeks of their end date.
The lack of any reassurance or at least some kind of update makes me twitchy and I often sell out of loans that I would otherwise be happy to hold onto if there was any whiff of positive update.
How can they say "no change" when a loan has 1 - 2 weeks to go. To me, "no change" might as well read "no progress" which sets alarm bells when some kind of work is meant to be happening or planning permission sought.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Dec 5, 2016 19:47:50 GMT
Does anybody else find it disconcerting that savingstream don't give a loan update for loans that are within 2 - 4 weeks of their end date. The lack of any reassurance or at least some kind of update makes me twitchy and I often sell out of loans that I would otherwise be happy to hold onto if there was any whiff of positive update. How can they say "no change" when a loan has 1 - 2 weeks to go. To me, "no change" might as well read "no progress" which sets alarm bells when some kind of work is meant to be happening or planning permission sought. The biggest problem I find is that the updates that we do get are inaccurate and speculative; I'd rather see more accurate and detailed updates as and when they occur with an update as a loan approaches its end date. I think the issue may be that SS are relying on information from the broker.
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mikes1531
Member of DD Central
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Post by mikes1531 on Dec 5, 2016 20:57:05 GMT
The biggest problem I find is that the updates that we do get are inaccurate and speculative; I'd rather see more accurate and detailed updates as and when they occur with an update as a loan approaches its end date. I think the issue may be that SS are relying on information from the broker. Then perhaps SS/Lendy ought to be asking -- requiring? -- brokers to let them know exactly what progress the borrower has made towards repaying their loan when it's within a month of maturity. Is that too much to ask?
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e7
Posts: 29
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Post by e7 on Dec 5, 2016 21:10:28 GMT
The biggest problem I find is that the updates that we do get are inaccurate and speculative; I'd rather see more accurate and detailed updates as and when they occur with an update as a loan approaches its end date. I think the issue may be that SS are relying on information from the broker. Then perhaps SS/Lendy ought to be asking -- requiring? -- brokers to let them know exactly what progress the borrower has made towards repaying their loan when it's within a month of maturity. Is that too much to ask? I've learned that whatever walk of life your dealing with be it a plumber, insurance company car garage or ice cream van the level of service you expect is usually never delivered, however I know in my job I usually do my best to deliver but have of occasions fell short and never had a complaint and on other occasions have excelled and had gripes , it's just the nature of the great British workforce and customer
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Post by bracknellboy on Dec 5, 2016 22:32:44 GMT
I've learned that whatever walk of life your dealing with be it a plumber, insurance company car garage or ice cream van the level of service you expect is usually never delivered, ....it's just the nature of the great British workforce and customer My experiences are a touch different. I've generally found that dealing with v small businesses (sole trader style), provided I've done a bit of research in advance, then my experience of dealing with them has on the whole been extremely good: whether that is plumber, electrician, patio, decorator (umm, maybe not the latter quite as much, but almost). And even my experience of dealing with garages has generally been very good. Where I have had "gripes" (and I have) I have nearly always found them volunteering to sort it out. My problems have nearly always been with large organisations (some large name utility (E&G) companies; BT, BT, BT, BT, BT and ummm BT), or the occassional small business (our ******** doube glazing supplier springs to ******* mind: but perhaps no surprises there then: I hope the owners burn in H**L; oops, sorry, gone a bit off track).
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