Natwest cancelling loan

lordken24

I took out a small loan for £2000 almost two weeks ago. However I have money in premiem bonds and have decided to cancel the loan. I waited 10 days for the credit agreement and cancellation form. However it did not turn up. I then went into the bank and one of the staff printed out a form for me to sign and told me this was not the way it was normally done. However i was told money would be taken back in 24hrs. However 4 days on the funds are still in my account and i have used some off it (my mistake). I phoned the bank but they have no record of the cancellation and I will have to phone next week. I don't understand how they told me they would take the funds back straight away but now seem to have forgotten!

jonesMUFCforever

If you have used some of the money then you will have to pay an early settlement fee to close the loan off early.

You stupid stupid person - sorry if it offends but there is no other way to describe it.

lordken24

Can I merely transfer funds from my savings to bring the balance to the original amount. After all I assumed that it had all been cancelled. I'm not a stupid person. It was paid into a joint account and a direct debit came out. I signed the form to cancel on Wednesday and was told that the bank would claim it's funds by Thursday, so not exactly my fault if the funds are still in the account. I would have not allowed this to happen, and feel that the young chap in the bank has forgotten to cancel the loan as it was almost closing time when I went in.