Refinance; a new option has been added to allow a Refinance to be re-dated forward

A new option has been added to Account Types to allow the opening date of the Refinance To Account to be re-dated forward.

For example, if you date a Refinance, including an additional drawdown, on the 10th day of a month, but for whatever reason the documents aren't signed and the additional funds therefore are not paid until the 11th - this functionality allows the new Account to be opened on the 11th. You must edit the new Account and enter the new date, and recalculate the new payments etc.

Note, the original Account being refinanced is NOT changed. Therefore there may be a period where there is no Interest and Fees charged on the balance outstanding - therefore you should be careful using this facility.

To enable this option, check "Allow Refinance to be re-dated forward?" on the Account Type, Other page.

Note, this option does not allow the Refinance to be re-dated prior to the original refinance date.