Finance/money brokers

mmalhoubani

Q1. Just wondering whether after getting a loan provider through a finance/money broker you can then ditch the money broker and go direct to the loan provider? If they found out, is there anything they can do?

Q2. Is their a fee for paying your loan earlier than first planned? I.e. I take a loan out for £500 at an APR of 20% over a period of 1 year therefore giving a total to be repaid of £600 with monthly repayments of £50. I pay 3 months worth of payments totalling £150 and decide that I can pay the remainder off outright - is it £350 that I pay or £450 with the argument (on the lender's side) that I guaranteed them an income of £600 in total - sort of like contract providers such as Mobile Phone companies etc. Note only that but are lenders allowed to charge you an early exit fee or hidden admin charge?

Any help would be gratefully appreciated.

Thanks.