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Why a comparison needs a common quote date
Offers made at different times can use different assumptions or conditions.
Offers made at different times can use different assumptions or conditions. A difference may therefore reflect the version of the product as well as the provider.
Keeping dates and expiry conditions makes that limitation visible. The exercise should compare currently available written terms rather than combine a recent offer with a remembered advertisement.
- Offers made at different times can use different assumptions or conditions.
- Keeping dates and expiry conditions makes that limitation visible.
Records and amendments
Security changes the questions worth asking
Keep the versions and their dates together when comparing figures. This helps identify the precise question without assuming that every difference proves an error or an unfair charge.
Definitions
- Total repayable
- Sum payable under the stated schedule and its assumptions; contingent charges and changes must be considered separately.
- Amount received
- Money actually made available to the borrower, which can differ from the stated loan amount if a charge is deducted.
Direct answers
- What does this explain: why a comparison needs a common quote date?
- Offers made at different times can use different assumptions or conditions. A difference may therefore reflect the version of the product as well as the provider.
- Which details matter for this question: why a comparison needs a common quote date?
- A difference may therefore reflect the version of the product as well as the provider.
- What should be checked next concerning why a comparison needs a common quote date?
- Keeping dates and expiry conditions makes that limitation visible. The exercise should compare currently available written terms rather than combine a recent offer with a remembered advertisement.