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Cancel PPI mid-term?
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Is it possible to cancel PPI mid-term?
My father took out PPI with his car loan, but I'm convinced he can get it cheaper elsewhere. It's been about 2yrs since he got the loan, could he cancel it and get a refund for the unused period and go elsewhere? Or would he have to repay the whole loan to do it? If so, would any settlement figure include a refund for the period not covered?
Thanks in advance.
My father took out PPI with his car loan, but I'm convinced he can get it cheaper elsewhere. It's been about 2yrs since he got the loan, could he cancel it and get a refund for the unused period and go elsewhere? Or would he have to repay the whole loan to do it? If so, would any settlement figure include a refund for the period not covered?
Thanks in advance.
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Comments
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it depends on which loan product he has (remembering that the likes of natwest has about 30 different ones) - some you can simply cancel and continue the loan, others you have to cancel the loan and take out a new oneAll posts made are simply my own opinions and are neither professional advice nor the opinions of my employers
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