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The Finance Shop Release Notes
Previously when a deal was structured there was no effective rate shown. The December patch release introduced the ability to display an effective rate when a deal is structured.
Method of calculation
There are several different ways that lenders can calculate the effective rate when the deal has variable repayments. The method that we have used is to calculate the interest rate that the customer would have paid if the finance application had been unstructured with even monthly payments.
We are happy to work with any of our clients who have feedback or suggestions on other approaches or methods of performing these calculations
In the example below, you can see a deal structured with quarterly repayments
When the calculations are custom the option to solve in all other areas is disabled;
