Post by mattr on Jul 29, 2014 7:19:54 GMT
I'm not sure whether the reinvestment settings are working properly, or if perhaps there's a rule I'm not aware of.
Just had my first repayment on a 5 year loan. A whole £9.67. My reinvestment settings are (and always have been) that "All" repayments (cap+int) on 5 year loans should be reinvested in the 5 year market at the market rate. However £9.67 has gone into my holding account and so doesn't look to be on offer. I assume that this is related to the £10 minimum loan. But can I safely assume that the system "knows" that this holding a/c money is to be lent on 5 years as soon as it hits the minimum £10? The £10 minimum loan is very intuitive for new loans, but when you're auto-reinvesting you're bound to get small / strange amounts trickling through and it would be good to understand exactly how it works. I would suggest the FAQs could be beefed up in this area, or maybe a note on the page for reinvestment settings.
Matt
Just had my first repayment on a 5 year loan. A whole £9.67. My reinvestment settings are (and always have been) that "All" repayments (cap+int) on 5 year loans should be reinvested in the 5 year market at the market rate. However £9.67 has gone into my holding account and so doesn't look to be on offer. I assume that this is related to the £10 minimum loan. But can I safely assume that the system "knows" that this holding a/c money is to be lent on 5 years as soon as it hits the minimum £10? The £10 minimum loan is very intuitive for new loans, but when you're auto-reinvesting you're bound to get small / strange amounts trickling through and it would be good to understand exactly how it works. I would suggest the FAQs could be beefed up in this area, or maybe a note on the page for reinvestment settings.
Matt
