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Post by Jack Barlow on Sept 17, 2014 22:17:32 GMT
I finally got last week the calculation made by AC (totals, not loan by loan, but useful enough). The difference comes from the fact that they have deduced the loans sold during that period and I had not (I only totaled secondary market purchases and loan offers already converted into loans). I went back to the email detailing the April cashback, and the email spoke about "the amount of new investment our loyal lenders successfully make through Assetz Capital from 2nd April 2014 up until midnight on 30th April 2014". It did not mention net new investments, but this is how the calculation has been made. , I agree the original AC wording was less than ideal. The ambiguity was discussed at length on this forum back in April, in response to which andrewholgate and chris provided clarification, which you unfortunately missed. e.g. see this post p2pindependentforum.com/post/8949/thread
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mikes1531
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Post by mikes1531 on Sept 17, 2014 22:33:42 GMT
I finally got last week the calculation made by AC (totals, not loan by loan, but useful enough). The difference comes from the fact that they have deduced the loans sold during that period and I had not (I only totaled secondary market purchases and loan offers already converted into loans). I went back to the email detailing the April cashback, and the email spoke about "the amount of new investment our loyal lenders successfully make through Assetz Capital from 2nd April 2014 up until midnight on 30th April 2014". It did not mention net new investments, but this is how the calculation has been made. IIRC, the first version of the Ts&Cs was effective 1/Apr and referred only to lending. It was observed here in the forum that this presented a loophole. The original Ts&Cs were withdrawn the following day and replaced with the Mark II version effective 2/Apr, and that was the last version. It's still available at www.assetzcapital.co.uk/lenders/loyalty-offer/ and it did make the situation clear... If you look at the first couple of pages of the forum Cashback thread, you'll see the discussion of the loophole and AC's response.
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mikes1531
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Post by mikes1531 on Oct 1, 2014 19:25:56 GMT
We've paid out the first round of the april cashback offer. If there's a couple of loans that haven't been included as they've not paid out yet. As and when they are drawn down we'll recalculate the cashback figures and pay out the balance. : Did this follow-up work actually happen for Aberystwyth, which drew down on 27/Aug? I've looked in my statement and don't see any cashback payment related to the Aberystwyth bids I placed during the cashback offer period.
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Post by chris on Oct 1, 2014 19:28:21 GMT
We've paid out the first round of the april cashback offer. If there's a couple of loans that haven't been included as they've not paid out yet. As and when they are drawn down we'll recalculate the cashback figures and pay out the balance. : Did this follow-up work actually happen for Aberystwyth, which drew down on 27/Aug? I've looked in my statement and don't see any cashback payment related to the Aberystwyth bids I placed during the cashback offer period. It was definitely coded but I'd need to check with the admin team as to what the status was with the offer. davidricketts1 is this something you could check with the rest of the team and report back to the lenders?
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mikes1531
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Post by mikes1531 on Oct 1, 2014 20:28:36 GMT
chris: Did this follow-up work actually happen for Aberystwyth, which drew down on 27/Aug? I've looked in my statement and don't see any cashback payment related to the Aberystwyth bids I placed during the cashback offer period. It was definitely coded but I'd need to check with the admin team as to what the status was with the offer. davidricketts1 is this something you could check with the rest of the team and report back to the lenders? : Thanks for the very quick response. I'll await further info.
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