We offer services to analyse and replicate your calculations within our solutions. This often requires adjustment and customisation of our calculation engines on a case by case basis.

These services typically comprise:

1. for mortgage solutions in the UK, identifying and specifying the full set of parameters that need to be computed for the purposes of preparing Key Facts Illustrations(KFI).
   
   
2. the details of daily in arrears and other interest calculation models, such as the rounding and truncation rules.
   
   
3. ensuring that accrued interest is capitalised on the correct date, despite variations in the number of days in a month.
   
   
4. ensuring that repayments of lending products are made on the correct dates, despite variations in the number of days in a month.
   
   
5. ensuring that the date of the first repayment of a lending product complies with any special case rules for an initial partial period.
   
   
6. ensuring that repayments are computed correctly to yield the desired term. Standard monthly repayment algorithms cannot predict the correct amount where daily in arrears interest calculations are to be applied, requiring either iterative solutions, or the development of a customised repayment module that implements the lender's algorithm.
   
   
7. potentially modelling scenario commencement dates differently for illustrations and quotations.
   
   
8. modelling the first interest accrual period on a special case basis.
   
   
9. correctly modelling varying interest rate periods such as fixed, capped and discount rate periods.
   
   
10. correctly modelling base and margin interest rates, and discretionary practices whereby certain staff may vary interest rate components within defined limits.
    
    
11. applying the correct product specific business rules to repayment adjustments when interest rates change.
    
    
12. the handling of interest at the end of shorter months when, for example, interest is capitalised on the last day of the month.
    
    
13. correctly modelling and accommodating all applicable fees and charges which apply on application, establishment, or at other times.
    
    
14. correctly modelling early repayment fees in particular. These tend to vary substantially between lenders and even the products of lenders.
    
    
15. correctly modelling refinance, debt consolidation and top-up loans.
    
    
16. ensuring that essential lending criteria are applied to only quote on valid scenarios. For example, many finanz tools compute and monitor loan to value ratios and debt servicing ratios, alerting staff to unacceptable scenarios detected.
    
    
17. offering a range of calculation models to accommodate the range of older style or legacy products still supported by financial institutions. For example, some lenders still have clients on mortgages computed with annual rests whose loans need to be assessed from time to time.
    
    
18. correctly modelling the lender's higher lending charges. This includes the ability to waive the higher lending charge for certain customers or offering the customer a different rate.
    
    
19. offering customised results for use in the User Interface. Such results may include calculating APR's, the ratio of the total repayment to the amount borrowed and indications of the potential costs of a rise in interest rates.

This list is not exhaustive but is indicative of the many calculation complexities considered as integral components of any solution. Such considerations can have flow-on effects that influence the architecture and choice of technology best suited to a solution.

As a result of considering the full spectrum of calculation requirements, we can recommend a solution tailored to the needs of any client.

We also commonly assist clients in the gathering, analysis and documentation of all relevant facts, algorithms and parameters.