We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Paying off a recent loan , ok?
Hello, we have recently (within the last week) borrowed extra on our existing loan. We did this to ensure quick release of funds. We researched othr loans and we can get cheaper repayment, as long as we qualify. Is it worth paying off our existing loan so soon, or do you think we would be penalised / Hope this makes sense !
Zolabud1
Zolabud1
0
Comments
-
What are the terms and conditions of your existing loan?
Is it unsecured or secured - if secured are you tied in?
Have you paid a early settlement fee now when you borrowed extra?
So many questions - we can't advice you because you have not provided enough information.0 -
ok will look into these pointers and return if if more help required, thanks .0
-
Most lenders will charge 1-2 months interest as an early settlement penalty.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards