oldgrumpy
Member of DD Central
Posts: 5,087 
Likes: 3,233
|
Post by oldgrumpy on Apr 14, 2014 9:45:57 GMT
"so it is quite possible to interpret it it as 0.75% for the £15k."
Let's clarify with this example with a direct question. andrewholgate : Good morning.  Does this example result in £15,000 x 0.75% = £112.50 cashback or does it result in £10,000 X 0.5% plus £5000 x 0.75% totalling £87.50 cash back?
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Apr 14, 2014 18:58:18 GMT
"so it is quite possible to interpret it it as 0.75% for the £15k."
Let's clarify with this example with a direct question. andrewholgate : Good morning. Does this example result in £15,000 x 0.75% = £112.50 cashback or does it result in £10,000 X 0.5% plus £5000 x 0.75% totalling £87.50 cash back? I thought we already had this one answered when chris wrote... I've double checked with the rest of the team and we are going to be honouring the amounts from the combined amount, so you'll be earning 0.75% across both offers. He was responding to a slightly different question of mine, but I thought the principle would apply here as well, and that would make the answer to oldgrumpy's question be £112.50. (If you click on the date of chris's post you'll be taken straight to the appropriate part of this thread to see more of the relevant discussion.) On the other hand, some people still don't seem to be sure of the interpretation so perhaps a statement from AC is necessary to put the question to rest.
|
|
|
|
Post by whitmanthecat on Apr 14, 2014 22:55:35 GMT
I enquired directly with AC last week and received a reply today. They confirmed that the rate applies to the whole investment.
So, continuing the example, £15k earns £112.50, which is 0.75% on the whole amount.
You may wish to hear it directly from AC and not me though!
|
|
|
|
Post by Ton ⓉⓞⓃ on Apr 15, 2014 8:53:49 GMT
I enquired directly with AC last week and received a reply today. They confirmed that the rate applies to the whole investment. So, continuing the example, £15k earns £112.50, which is 0.75% on the whole amount. You may wish to hear it directly from AC and not me though! This being the case AC really should take longer wording their T's & C's in future offers. I'm happy this is resolved, but I've the feeling, as the words seem to say the opposite that, only Lenders who ask for the 0.75% on the whole amount will get the uplift on the whole amount when their lending goes from one level to the next. But it'll be nice to be proved wrong. I for one will be checking how much bonus I get. P.S. When I was checking over the site before investment I noticed that there was a previous offer in the T&C's where the full date was omitted, minor I know but indicative.
|
|
|
|
Post by davidricketts1 on Apr 15, 2014 13:29:35 GMT
Hi all - David here again. I should probably mention that I'm filling in while
Andrew is on holiday, so apologies if it's taking slightly longer than usual to answer questions.
Happy to be the bearer of good news. The amount of cash back payable is calculated by the total amount of investment accumulated, rather than being tiered. So, if you push yourself up into another bracket, your entire investment for the period is included.
For clarity, here's a worked example:
Someone who lent £11,000 would get £82.50 cash back (£11,000 x 0.75%) rather than £57.50 (£10,000 x 0.5% + £1,000 x 0.75%).
Hopefully that makes things clearer - do ask if not though.
Thanks,
David
|
|
|
|
Post by Ton ⓉⓞⓃ on Apr 15, 2014 13:53:03 GMT
Thanks for sorting this one out davidricketts1, or atleast it's worked out to my satisfaction. In future can AC do a worked example as a matter of course in all (well most) things not just how offers work. Your work in this is much appreciated. I suppose the other issue at the moment is simply the brevity of answers that are sometimes given on the AC web-site. From AC's point of view the question might seem answered but with the Kent Bridge if you run down the Q&A you'll see the same thing being asked again & again. Personally I'm now holding back on Kent not simply 'coz of risk but if it's been this hard so far what will the future be like? |
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Apr 15, 2014 14:08:31 GMT
Welcome to the cauldron davidricketts1  I shall try to be gentle.  I suppose poor old chris is still on nappy duty, but maybe you can give a nudge somewhere to provide a running total of cashback qualifying investments on our dashboards. It will assist us in thrusting in the last few £s late in April. I'd hate to be caught short... ....of £10K when the final reckoning occurs. |
|
|
|
Post by davidricketts1 on Apr 15, 2014 15:30:48 GMT
Yes, we will be honouring our word and cashback will be based on the total amount of successful new investment made across both offers.
For example, if you invested £1,000 on April 1st under the first cashback offer and then invested a further £9,000 in the period from April 2nd - 30th April, you would have lent £10,000 in total across both offers, and therefore would receive 0.75% cashback on £10,000.
|
|
|
|
Post by davidricketts1 on Apr 15, 2014 15:53:18 GMT
Correct!
|
|
|
|
Post by Ton ⓉⓞⓃ on Apr 15, 2014 16:00:15 GMT
Sorry what's correct? What many have started to do on this message board is to quote the person their talking to, as I've done above, and then give their answer or their part in the discussion. It helps in keeping things clear.
|
|
|
|
Post by davidricketts1 on Apr 15, 2014 16:09:12 GMT
Yes, we will be honouring our word and cashback will be based on the total amount of successful new investment made across both offers. For example, if you invested £1,000 on April 1st under the first cashback offer and then invested a further £9,000 in the period from April 2nd - 30th April, you would have lent £10,000 in total across both offers, and therefore would receive 0.75% cashback on £10,000. The perfect response, with no gray areas - thank you. I will assume that the same rule applies to the £100k+/1.25% offer. Correct!
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Apr 15, 2014 17:45:09 GMT
I bet he is now Just one further question... Are you regretting making an appearance yet, David?  I bet he is now |
|
|
|
Post by davidricketts1 on Apr 16, 2014 8:10:39 GMT
Just one further question... Are you regretting making an appearance yet, David? And please forgive my ignorance - welcome to the forums. Thanks for the welcome. Always happy to help!
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Apr 22, 2014 10:30:40 GMT
Well, having been grumpy because I put a few K in 29-31 March, which I could easily have held back until 1 April had I known, I've had a small five figure sum on standby....and for what? Almost nothing except an unsecured retail deal at 9% (no thanks) to bid on and just over a week left!! I needed at least five more deals to diversify into; looks like I'll have to return to munching tropical fruit to keep me awake.  Mmmm! Yummy  |
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,806
Likes: 3,237
|
Post by jonno on Apr 22, 2014 11:45:19 GMT
Well, having been grumpy because I put a few K in 29-31 March, which I could easily have held back until 1 April had I known, I've had a small five figure sum on standby....and for what? Almost nothing except an unsecured retail deal at 9% (no thanks) to bid on and just over a week left!! I needed at least five more deals to diversify into; looks like I'll have to return to munching tropical fruit to keep me awake. Mmmm! Yummy Two aspects truly shock me here.Firstly,is there such a thing as a SMALL five figure sum? But secondly,and more shockingly,will you really eat any old "tropical fruit"? 
|
|
Does this example result in £15,000 x 0.75% = £112.50 cashback or does it result in £10,000 X 0.5% plus £5000 x 0.75% totalling £87.50 cash back?
I bet he is now 
