Calculate interest rebate?

bluemonster

Hi everyone,

Have been avid watcher for some time and picked up lots of help on this site, so big thanks to everone who contributes..

I have been left some money and am looking to pay off my loan early.

I have looked through the paperwork and Interest will be refunded in line with government law regarding unsecured loans.... but having looked at this, the calculation is something I am not smart enought to work out... can anyone help?


Loan taken out dec 2003 for 25,000 rate of 6.5% over 8 years, will pay off around october this year when the money comes through.

does anyone know of a calculator online that can work out the rebate of interest for me?

Many thanks for any help anyone can provide


Mark

moneywolf

just ring them up for a settlement figure that would be the first step.

From my calcs

total to repay £32126.96

interest £7126.96

look as though you owe about £8k at present

immoral_angeluk

Have you look at Martin's Bank charges interest calculator?