acorn
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Post by acorn on Sept 10, 2014 13:39:44 GMT
I think the interest accrual on this loan may have stalled but I'm not 100% sure. Can other folk check their interest please?,
I bought £100 x WDL (10% annualised interest, paid at end of term) on 1st. May and has accrued £3.62 interest. I *think* it has been stuck at that for a couple of weeks.
I bought £100 x CWT (10% annualised interest, paid monthly) on 2nd May and this has paid £3.96 interest so far which seems about right.
Correct me if I'm wrong.
(d & r!)
Didn't mean to post this on the private board, perhaps it would be better moved to the open forum....
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mike
Member of DD Central
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Post by mike on Sept 10, 2014 14:09:15 GMT
I have units bought on three different dates since 14/5/2014 and all the accrued interest is correct.
mike
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Post by Ton ⓉⓞⓃ on Sept 10, 2014 14:30:29 GMT
I think the interest accrual on this loan may have stalled but I'm not 100% sure. Can other folk check their interest please?, I bought £100 x WDL (10% annualised interest, paid at end of term) on 1st. May and has accrued £3.62 interest. I *think* it has been stuck at that for a couple of weeks. I bought £100 x CWT (10% annualised interest, paid monthly) on 2nd May and this has paid £3.96 interest so far which seems about right... Can't tell if that's right or not. I bought a unit £100 of WDL on 15/4 to date it's yielded £4.06 Have you worked out the daily interest?
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acorn
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Post by acorn on Sept 10, 2014 14:56:57 GMT
Thanks Mike and no, Ton I haven't but will do in future before I sound off! I actually have £120 in CWT including my original bid, so a new pair of glasses will probably help as well.  Here I go, back under my stone again. Sorry all!! |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 10, 2014 15:00:17 GMT
Mine also appears correct. So, by my calcs is yours. (£100x.01)132/365 = £3.62. Remember its simple interest not compound. Edit. Oops slight cross post there. Got delayed by running out of fingers  |
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Post by Ton ⓉⓞⓃ on Sept 10, 2014 15:07:20 GMT
Thanks Mike and no, Ton I haven't but will do in future before I sound off! I actually have £120 in CWT including my original bid, so a new pair of glasses will probably help as well. Here I go, back under my stone again. Sorry all!! Sorry if that came over as rather harsh, I didn't mean it that way. You're right in that the AC 'Interest-o-Meter' sometimes gets stuck and it does no harm to ask. Il moro has done the calc. for us. Thanks.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Sept 10, 2014 15:36:57 GMT
Thanks Mike and no, Ton I haven't but will do in future before I sound off! I actually have £120 in CWT including my original bid, so a new pair of glasses will probably help as well. Here I go, back under my stone again. Sorry all!! Sorry if that came over as rather harsh, I didn't mean it that way. You're right in that the AC 'Interest-o-Meter' sometimes gets stuck and it does no harm to ask. Il moro has done the calc. for us. Thanks. Ha. First time I did it I miscalculated the days. Was about to launch a pointed query as to why I was only getting simple interest when acorn was getting compound or rounded daily interest & therefore was interest calculated differently on loans bought on Am rather than initial auction. Fortunately I put aside my brain and used a calculator.  Does go to show how AC recent interest errors have made me paranoid. Now if someone could explain why my android tablet hates this forum I could stop ranting like a loon 
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acorn
Posts: 118
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Post by acorn on Sept 10, 2014 15:50:25 GMT
No worries Ton, I really didn't think you were being harsh - more cross with myself for not engaging brain before opening mouth!
Thanks , Il Moro, will use that in future, but please don't stop ranting as it makes me feel a whole lot better!!
On a positive note, I think a few other borrowers could learn from the communication levels shown on this loan. It's really quite refreshing.
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Post by Ton ⓉⓞⓃ on Sept 10, 2014 19:01:55 GMT
No worries Ton, I really didn't think you were being harsh - more cross with myself for not engaging brain before opening mouth! Thanks , Il Moro, will use that in future, but please don't stop ranting as it makes me feel a whole lot better!! On a positive note, I think a few other borrowers could learn from the communication levels shown on this loan. It's really quite refreshing. It's great to see that the last tranche of our loan has been drawn (I think) and that the project is now at the point of becoming self-sustaining financially (sales paying for continuing building work), also that the two sales mentioned appear to be each 10k more than the proposal needed so our ltv must be even healthier. I suppose there's no incentive for them to pay this loan off early, unless there was another project that we could participate in together. I'm most satisfied with the way they've (the builders) handled the loan so far, and AC in approving it in the first place. PS I was impressed that there was a note in their own paperwork that said they though they might be losing a sale in August but the latest data shows it as sold. Clearly they turned that round.
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Does go to show how AC recent interest errors have made me paranoid.