Version 1.4.2: The Bridge Loan Tells the Truth
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Some releases bring a new economy. Version 1.4.2 is one bug, fixed less than twenty minutes after 1.4.1, and it lives on the most dramatic button on a property card: Bridge Loan.
The card and the bank were not on speaking terms
When you land on a property you cannot quite afford, the card offers a bridge loan: borrow the gap and buy the thing in one move. On a business card the same button is a leveraged buyout. The card showed you a slider with a maximum on it, and then the bank checked the deal for itself. The two did not agree, and they were wrong in both directions.
The card worked out its limit from what you owned today and ignored the asset you were about to buy. The bank judged the deal differently, looking at the price but not at the rent the property would bring, and leaving the new mortgage's payment out of its sums. So the card sometimes hid deals the bank would happily have approved, and sometimes offered a bridge the bank then declined.
One test, used twice
The deal is now judged as it stands after closing: what you would owe, against what you would own, and what the new property would earn against what the new loans would cost. The bank uses that test, and the card uses the same test to set the top of its slider. The number on the slider is now the number the bank approves. If you raise cash or spend some while the card is open, the limit moves and the slider stays inside it.
It is a small change to look at and a large one to rely on. A button should never promise what a bank will not deliver. We have enough of that in real life.
That is the last release in the series for now. The whole journey, from a first paycheck to two app stores, is in Going Public.
The release notes
This release has no store notes of its own, so there is nothing to quote.
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