{
  "service": "Creditcrest back book",
  "version": "1.0.0",
  "what": "What a borrower is paying, against what their own lender and the rest of the imported data publish today for a loan of the same shape at the same loan to value ratio.",
  "not_advice": "This compares figures lenders publish. It is not a recommendation, it does not know your circumstances, and switching a loan has costs of its own — a discharge fee, the new lender’s upfront fees, and lenders’ mortgage insurance again if your equity is under 20 per cent.",
  "published_is_not_offered": "A published rate is not the rate a lender gives. The ACCC measured an average discount of about 128 basis points off the advertised rate at the big four banks, on criteria no lender publishes — which on a $500,000 loan is larger than the gap between most of the rows below. It is an average across a market and not a promise to anybody, and it cuts both ways: a rate you are already paying may carry a discount that appears in no table, and a rate here may be beaten by asking.",
  "nothing_is_kept": "Every figure is computed from the query string and thrown away. There is no store behind this address and no account.",
  "query": {
    "rate": "the rate being paid now, as a percentage (\"6.89\") or a fraction (\"0.0689\")",
    "lender": "the brand the loan is with, as the imported data names it",
    "amount": "the amount still owing, dollars",
    "value": "what the property is worth, dollars — this is what sets the ratio",
    "term": "years left on the loan",
    "age": "how old the loan is, years — optional, and used only to show what the ACCC measured",
    "purpose": "owner (default) or investor",
    "repayment": "principal_and_interest (default) or interest_only"
  },
  "loyalty_gap": [
    {
      "minYears": 0,
      "maxYears": 3,
      "basisPoints": null,
      "what": "The ACCC did not publish a separate figure for a loan under three years old."
    },
    {
      "minYears": 3,
      "maxYears": 5,
      "basisPoints": 58,
      "what": "The ACCC found borrowers with a loan three to five years old paying 58 basis points more than new borrowers."
    },
    {
      "minYears": 5,
      "maxYears": 10,
      "basisPoints": 71,
      "what": "The ACCC found borrowers with a loan five to ten years old paying 71 basis points more than new borrowers."
    },
    {
      "minYears": 10,
      "maxYears": null,
      "basisPoints": 104,
      "what": "The ACCC found borrowers with a loan more than ten years old paying 104 basis points more than new borrowers."
    }
  ]
}