Congratulations! 1.8 million ATR loan filled
Feb 23, 2016 9:47:44 GMT
SteveT and registerme like this
Post by ablrate on Feb 23, 2016 9:47:44 GMT
Hi All
I take your point on 'arbitrarily' changing the amount raised and its not something that is policy, but at £50k it doesn't materially affect the loan or your return. James also points out that the sales value is being enhanced by the attachment of a lease to the sale of the aircraft.
Treating Customers Fairly is an FCA principal that we take very seriously. This is why those who were in the existing loan were bumped up on rates from 10% to 13%. so that everyone had the same deal. This is why, even before we canned the auction system, it was based on a 'top down' basis not on 'what-you-bid-is-what-you-get' which the FCA will probably kill if anyone else is running those types of auctions. It is why we were the first to introduce 'Instant Returns' where those who bid early are rewarded more than those who bid late (which is the reverse in cash back). Extending the loan for what amounts to 1.5% on the LTV to accommodate some people who would like to get involved is not, we believe, material.
We do get your point however, and will be mindful of that in the future.... but don't be the one who complains they didn't get in to one of the loans.... lol...
As a policy, if we think a loan might be extended we would have the proposal reflect that the target is a 'minimum' amount.
Regards
Ablrate
I take your point on 'arbitrarily' changing the amount raised and its not something that is policy, but at £50k it doesn't materially affect the loan or your return. James also points out that the sales value is being enhanced by the attachment of a lease to the sale of the aircraft.
Treating Customers Fairly is an FCA principal that we take very seriously. This is why those who were in the existing loan were bumped up on rates from 10% to 13%. so that everyone had the same deal. This is why, even before we canned the auction system, it was based on a 'top down' basis not on 'what-you-bid-is-what-you-get' which the FCA will probably kill if anyone else is running those types of auctions. It is why we were the first to introduce 'Instant Returns' where those who bid early are rewarded more than those who bid late (which is the reverse in cash back). Extending the loan for what amounts to 1.5% on the LTV to accommodate some people who would like to get involved is not, we believe, material.
We do get your point however, and will be mindful of that in the future.... but don't be the one who complains they didn't get in to one of the loans.... lol...
As a policy, if we think a loan might be extended we would have the proposal reflect that the target is a 'minimum' amount.
Regards
Ablrate
