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Post by cymrukid on Apr 2, 2017 17:56:17 GMT
I put some loans up for sale this evening. Prior to selling my available funds were £300. As I put each loan up for sale the available funds decreased bit by bit and ended up at £284 after putting up £500 or so of loans for sale. This was before any loans were sold. I must have missed something, but do you lose the interest gained since having the loans? The £16 difference observed above corresponded to the interest of the loans I was selling.
If this is the case, when you buy a loan on the secondary market, do you gain any interest?
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ped
Member of DD Central
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Post by ped on Apr 2, 2017 18:15:54 GMT
I just watch my account reduce by 9p. I have deposited some funds today and made a SM purchase, so only thing I can think of is the interest payment has been in error and Lendy have taken it back? Any thoughts.
Edit now another 5p
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Post by df on Apr 2, 2017 18:27:11 GMT
I just watch my account reduce by 9p. I have deposited some funds today and made a SM purchase, so only thing I can think of is the interest payment has been in error and Lendy have taken it back? Any thoughts. Edit now another 5p I had the same, the amount of available funds suddenly reduced. I've looked at statement and everything looks correct. I also think they've made some mistakes in interest payment and adjusted it, it can't be anything else.
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tarq
Member of DD Central
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Post by tarq on Apr 2, 2017 18:27:43 GMT
Have a look at the thread below, probably that.
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Post by barberbookie on Apr 2, 2017 19:19:49 GMT
Have a look at the thread below, probably that. What thread below?
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Post by mattie on Apr 2, 2017 19:24:31 GMT
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vmail
Open image in a new tab.
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Post by vmail on Apr 2, 2017 19:39:57 GMT
Bendy stole £1.12 so far
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ped
Member of DD Central
Posts: 255
Likes: 84
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Post by ped on Apr 2, 2017 19:46:00 GMT
I just watch my account reduce by 9p. I have deposited some funds today and made a SM purchase, so only thing I can think of is the interest payment has been in error and Lendy have taken it back? Any thoughts. Edit now another 5p I had the same, the amount of available funds suddenly reduced. I've looked at statement and everything looks correct. I also think they've made some mistakes in interest payment and adjusted it, it can't be anything else. Email just in, all loans credited at 12% so this is the adjustment for march interest payments where loans are lower than 12%.
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ablender
Member of DD Central
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Post by ablender on Apr 2, 2017 19:52:51 GMT
I have just received an email from Lendy describing the interest error. My balance was reduced by £1.89. I admit that this is not a large amount but I never had any parts with less than 12% so I cannot explain why this reduction happened. I emailed savingstream and hope to get an answer. Has anyone else experienced a reduction in their funds even though you never held any sub 12% loan parts? |
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jamesc
Member of DD Central
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Post by jamesc on Apr 2, 2017 20:01:31 GMT
I have just received an email from Lendy describing the interest error. My balance was reduced by £1.89. I admit that this is not a large amount but I never had any parts with less than 12% so I cannot explain why this reduction happened. I emailed savingstream and hope to get an answer. Has anyone else experienced a reduction in their funds even though you never held any sub 12% loan parts? I had the same and never been involved in any of the sub 12% loans so clearly more errors are happening than they have owned up to so far, I think the whole idea of going into customer accounts and making back dated changes with no audit trail must IMHO be against some regulation somewhere !
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ablender
Member of DD Central
Posts: 2,204
Likes: 555
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Post by ablender on Apr 2, 2017 20:11:43 GMT
I have just received an email from Lendy describing the interest error. My balance was reduced by £1.89. I admit that this is not a large amount but I never had any parts with less than 12% so I cannot explain why this reduction happened. I emailed savingstream and hope to get an answer. Has anyone else experienced a reduction in their funds even though you never held any sub 12% loan parts? I had the same and never been involved in any of the sub 12% loans so clearly more errors are happening than they have owned up to so far, I think the whole idea of going into customer accounts and making back dated changes with no audit trail must IMHO be against some regulation somewhere ! Furthermore, I checked the amount of interest which is reported by Lendy's Tax Statement and this has not changed.
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elliotn
Member of DD Central
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Post by elliotn on Apr 3, 2017 5:39:51 GMT
I put some loans up for sale this evening. Prior to selling my available funds were £300. As I put each loan up for sale the available funds decreased bit by bit and ended up at £284 after putting up £500 or so of loans for sale. This was before any loans were sold. I must have missed something, but do you lose the interest gained since having the loans? The £16 difference observed above corresponded to the interest of the loans I was selling. If this is the case, when you buy a loan on the secondary market, do you gain any interest? Yes, you lose interest while your loan parts are for sale - per Lendy Investor Risk Statement "You will continue to be the lender for the loan part until it is sold but you will stop accruing and receiving interest during the period it is for sale". Why your balance was reduced by Ly was first raised by this forum (dfl17 paid 12% interest) and you should have received your now (check your junk for lendy.co.uk - you can also see this on the forum).
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