corto
Member of DD Central
one-syllabistic
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Post by corto on Apr 9, 2022 10:21:50 GMT
Average Interest Rates as reported on the account pages dropped significantly compared to last week.
By 2.5% on the standard account (all MLA) and .5% on the ISA (mix of AA and MLA). Can't find a reason for this.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Apr 9, 2022 10:45:26 GMT
Average Interest Rates as reported on the account pages dropped significantly compared to last week. By 2.5% on the standard account (all MLA) and .5% on the ISA (mix of AA and MLA). Can't find a reason for this. Would the Green account vanishing explain this ??
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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 Apr 9, 2022 11:26:56 GMT
Average Interest Rates as reported on the account pages dropped significantly compared to last week. By 2.5% on the standard account (all MLA) and .5% on the ISA (mix of AA and MLA). Can't find a reason for this. Have you got any loans that have gone into formal recovery? AC have changed policy and now change rates on all in recovery loans to zero (or at least dont add phases when they hit the end date) as there is no guarantee the interest will be recovered. Its still tracked just doesnt show on the platform and inflate outstanding interest numbers. See Q&A on #1122 for this change (if you have access)
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corto
Member of DD Central
one-syllabistic
Posts: 851
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Post by corto on Apr 9, 2022 14:04:31 GMT
Average Interest Rates as reported on the account pages dropped significantly compared to last week. By 2.5% on the standard account (all MLA) and .5% on the ISA (mix of AA and MLA). Can't find a reason for this. Would the Green account vanishing explain this ?? Nothing in Green. Thanks for the suggestion.
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corto
Member of DD Central
one-syllabistic
Posts: 851
Likes: 356
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Post by corto on Apr 9, 2022 14:05:29 GMT
Average Interest Rates as reported on the account pages dropped significantly compared to last week. By 2.5% on the standard account (all MLA) and .5% on the ISA (mix of AA and MLA). Can't find a reason for this. Have you got any loans that have gone into formal recovery? AC have changed policy and now change rates on all in recovery loans to zero (or at least dont add phases when they hit the end date) as there is no guarantee the interest will be recovered. Its still tracked just doesnt show on the platform and inflate outstanding interest numbers. See Q&A on #1122 for this change (if you have access) Thanks! That seems to be the reason.
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Post by Ton ⓉⓞⓃ on Apr 10, 2022 21:16:17 GMT
I've copied the relevant part below, i.e. the part that seems to be; a now general approach to loans marked "Recovery", A question was asked on 31.3.2022 and this is part of the answer
The [snips] are my edits
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rscal
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Post by rscal on Apr 21, 2022 13:14:08 GMT
I did a calculation for myself a couple of days ago on how much this affects my own reported 'rate of return' from AC and concluded it shaves about 0.9% (from '6%' to '5.1%' say) from the [cough!] value attributable to loan contracts and what AC is now getting people to face up to.
I'd already turned off my 'accrued interest' clock long since to help cushion that sinking feeling..
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