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Post by chris on Jul 22, 2014 18:29:14 GMT
If it says fee then it means you'll earn that much interest over the term. A 10% fee on a 9 month period is roughly 13.33% pa. The title text is manually set and will hopefully soon be shrunk to a much shorter string without all the duplicate information. Edit: The use of fees is on all loans with a less than 12 month term. The credit reports says "10% per annum" Then someone's put the wrong figures into the site. I'll take it up with the admin team.
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oldgrumpy
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Post by oldgrumpy on Jul 22, 2014 18:55:15 GMT
Looks like a littlecockup on the summary page: should not say 10% fee, should be consistent and say 10% equiv pa. as elsewhere. Can't see AH allowing us 13.33% pa on a short loan with decent security*! (Oh, didn't see that post by Chris; t'was on 't next page - Hi Chris  ) * Ill have a bigger hunk if it is!  |
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Post by chris on Jul 22, 2014 19:32:28 GMT
It's a 7.5% fee (so 10% pa), the admin team are putting the correction through now.
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Post by Ton ⓉⓞⓃ on Jul 22, 2014 20:43:09 GMT
It's hard to tell if this will make it to the AM, it's got that magic 10% on it even if in reality it's 7.5%, it's small 180k, the security is reasonable. I tend to think that people will see it as in short supply and put some kind of bid in and it will blink out before the two weeks is up. There's also the hint that it might be drawn quicker, as the introducer has kicked things off.
The only thing that I noticed about it was it was so short four pages, and that it was an apology for the interest rate. It's this rate because of this. I've never noticed that before, I'm wondering how much of the report is by AC.
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j
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Post by j on Jul 22, 2014 21:40:33 GMT
It's hard to tell if this will make it to the AM, it's got that magic 10% on it even if in reality it's 7.5%, it's small 180k, the security is reasonable. I tend to think that people will see it as in short supply and put some kind of bid in and it will blink out before the two weeks is up. There's also the hint that it might be drawn quicker, as the introducer has kicked things off. The only thing that I noticed about it was it was so short four pages, and that it was an apology for the interest rate. It's this rate because of this. I've never noticed that before, I'm wondering how much of the report is by AC. , at this rate & this term length, it has a decent chance of having underwriting & appearing on AM (imho of course) if you go by recent similar loans. I'll happily wait & pick some up that way, unless I see a stampede when loan opens, which I doubt.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 22, 2014 21:56:58 GMT
* Ill have a bigger hunk if it is! We'd all like one of those  ...........
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oldgrumpy
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Post by oldgrumpy on Jul 23, 2014 7:51:15 GMT
* Ill have a bigger hunk if it is! We'd all like one of those ........... ROSIE!! BEHAVE! (Not my style, dear!)
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mikes1531
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Post by mikes1531 on Jul 23, 2014 10:14:06 GMT
It's a 7.5% fee (so 10% pa), the admin team are putting the correction through now. Thanks, chris. I see that's been corrected. Now if you could just get them to fix the "Fee: 0%" under the horseshoe chart...
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 23, 2014 11:50:02 GMT
It's a 7.5% fee (so 10% pa), the admin team are putting the correction through now. Thanks, chris. I see that's been corrected. Now if you could just get them to fix the "Fee: 0%" under the horseshoe chart... I could be wrong,but I think this always remains at 0% while in "preview" mode.
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Post by chris on Jul 23, 2014 13:34:31 GMT
Thanks, chris. I see that's been corrected. Now if you could just get them to fix the "Fee: 0%" under the horseshoe chart... I could be wrong,but I think this always remains at 0% while in "preview" mode. I'll grumble at the front end team. Think it may be because it's driven off placed bids (so that it works with variable rate auctions), but I'm sure we can work something out. Edit: Thinking about it it will be fixed in the new version of the site anyway so it's likely to be left until then.
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