mikes1531
Member of DD Central
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Post by mikes1531 on Apr 23, 2015 22:44:58 GMT
This loan will probably not draw down simultaneously with existing loan repayment Existing loan currently scheduled to repay tomorrow Funds rolling over will be allocated as bids on the new loan Borrower looking to drawdown new loan next Friday but may slip into following week I see that AC did not respond to the issue ilmoro raised regarding interest not earned while the funds are in limbo between the two loans. I take that to mean rollover funds will earn nothing during that time. So much for AC's new model which was supposed to eliminate the idle/dead money problem that plagued the old model.
PS. A review of the initial rollover invitation reminded me that 1% cashback has been offered for rolled over investments. As long as the drawdown delay doesn't continue to grow, that will cover the 'dead' time, so the delay isn't really a problem.
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