Post by stub8535 on Jan 7, 2017 11:36:14 GMT
I am concerned that the way some sites present their lending as new.
In many cases a loan can roll at the end of its term. Several sites give the loan a new number and afaics they class this as a new loan.
If someone is looking to compare sites, or p2p generally, for origination volume purposes then it gives a false impression.
I wonder if fca have rules for how this data is displayed and if it is always followed, to the letter, by companies trying to convince lenders that they are a growing business.
I guess its down to. ......lies, damn lies and statistics.... as the quote goes!
Is there an eady way to strip away renewals from the quoted figures without too much work?
In many cases a loan can roll at the end of its term. Several sites give the loan a new number and afaics they class this as a new loan.
If someone is looking to compare sites, or p2p generally, for origination volume purposes then it gives a false impression.
I wonder if fca have rules for how this data is displayed and if it is always followed, to the letter, by companies trying to convince lenders that they are a growing business.
I guess its down to. ......lies, damn lies and statistics.... as the quote goes!
Is there an eady way to strip away renewals from the quoted figures without too much work?
