Who is APRcalc?

APRcalc.co.uk is designed and run by a graduate of theoretical physics with over 10 years experience in the IT industry. Mathematics and programming are the two requirements to produce this software which consistently produces accurate APR calculations so you can rest assured that your calculations are in the best possible hands.

How are the calculations made?

The mathematics of the calculations follow the guidelines in the OFT manual and the bisection method has been used to iteratively narrow down the APRs calculated until the left hand side and the right hand side of the series equations are within tolerance.

Whilst every effort has been made to ensure accuracy, programmatical errors are possible, but unlikely. In addition, the result is only as good as the data entered. All figures should be checked using spreadsheet software and no liability can be accepted for any losses as a result of inaccurate calculation and/or data entry.

What can I do with it?

On the basis that all calculations follow the guidance of the OFT, they can be supported by using our expert services, to trial if need be. It is likely however that the figure can be discussed with an opposing expert and agreement reached. The calculations are clear if the OFT guidelines are followed so it is likely that any disagreement  would be regarding the figures entered, rather than the method of calculation.

How much does it cost?

There are no charges currently. It may be that it will remain free to perform calculations - though no expert services may be secured to back up the calculation alone. The figure is provided for you to use as you see fit but no support or liability is provided. Permission is not granted to use our name to support figures which are made by this method alone.

There will be a charge for the reports, likely to be set at the £50 level depending on volume. The report can be used in negotiation with third parties and our name be associated with it. Furthermore, if dispute continues, we can offer expert services to correspond with a third party to discuss the figures and attempt to reach agreement. Charges for expert services are available on request.