pay back loans early

Mr_BARGAIN_2

EVENIN ALL JUST A LITTLE HELP IF U PLZ BACK IN 2002 I TOOK OUT A BANK LOAN WITH NAT WEST AMOUNT OF LOAN WAS £22500 PPI £5692 AND INTEREST ON THEM 2 WAS £7951.28p AT 8.9% OVER 72 MONTHS @ £501.99 A MONTH..... AFTER 26 MONTHS I PAID IT ALL OFF WOULD I HAVE GOT A REBATE FOR THE REMAINING 46 MTHS :mad::mad: THANKS 4 LOOKIN

Tixy

When you settle a loan early they provide a settlement figure, which does take into account that you are paying off the loan sooner and so have borrowed that final amount for a shorter period of time.

What final amount did you pay to settle after 26payments?

CLAPTON

OTCredit wrote: »

Most lenders don't rebate interest for early redemption of loan and in fact will charge an additional early termination fees.

this is totally incorrect and misleading

Mr_BARGAIN_2

Tixy wrote: »

When you settle a loan early they provide a settlement figure, which does take into account that you are paying off the loan sooner and so have borrowed that final amount for a shorter period of time.

What final amount did you pay to settle after 26payments?

i haven't paid off anything yet as am trying to get a figure in £ s of the ppi and i am waiting for them to get back to will keep u informed

Poosmate

Mr_BARGAIN wrote: »

i haven't paid off anything yet as am trying to get a figure in £ s of the ppi and i am waiting for them to get back to will keep u informed

This has got to be a wind up, in your first post you state that you paid it off in 26 months! Now you're saying you haven't paid anything off.

lol

Poo