I have no problems with the new method of calculating the fees - it is one of the better ways of doing it. My issue is with the level they are set at - and the size fee increase this will result in for pretty much EVERYONE even those in the cheapest fee bracket. If you look at the other P2P lender in NZ that does their fees the same as the new harmoney way they charge 10% NOT 15%-20%. If at least harmoney set there fees at 10%-15% most investors would have ended up paying more then they did before but the increase would have been more modest.
With Re-writes I see why they do it the way they do - but it penalises those that took the 1st initial risk with a new borrower and potentially risked the higher default rate. The best of all worlds fair to all way of dealing with this would be to offer existing investors the 1st right of acceptance to remain invested, Eg you have say 24 hours to log into your dashboard and say yes I want to remain invested. If you don't accept that part of the loan goes out to the market too. While this is happening the increased proportion of the loan can already be out in the market being filled - so the slow down in funding the loan would be minimal