Squirrel Money P2P

[Mickey]

Even with the explanation in an earlier post from the Ops Manager - I'm still finding the 2% fee rather ambiguous. I've just checked the Terms and Conditions on the site and it states the following:

"Service Fee means the fee payable by the Investor and deducted from interest payments made by the Borrower under the Loan Agreement equal to 2% of the outstanding Loan balance per annum as amended from time to time;"

This clearly states that the Investor is responsible for paying a fee. If this is not the case (as per above) - then the T's and C's need to be amended as I'm not prepared to sign up to Squirrel while it is worded this way.

I see that JB is a visitor to this site and so perhaps an authoritative statement from Squirrel could be provided here regarding this.