We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Early Repayment - Lloyds Personal Loan
purplepenguin_3
Posts: 5 Forumite
in Loans
Hi,
I have a Lloyds Personal Loan which has been running for about 3 of its 6 years. It was for £25K and redemption figure is £18.6K :-(
I have remortgaged and want to pay it off. Is there any way of avoiding the £185 early repayment fee? My other half thinks that if we pay off ALMOST all of it, leaving say £200 to pay, then this will be cleared by them by their next direct debit, and therefore they can't charge us the early repayment amount.
I don't know why he thinks this - does anyone think he's right, or do I just have to take the hit and pay the charge?
Thanks...
I have a Lloyds Personal Loan which has been running for about 3 of its 6 years. It was for £25K and redemption figure is £18.6K :-(
I have remortgaged and want to pay it off. Is there any way of avoiding the £185 early repayment fee? My other half thinks that if we pay off ALMOST all of it, leaving say £200 to pay, then this will be cleared by them by their next direct debit, and therefore they can't charge us the early repayment amount.
I don't know why he thinks this - does anyone think he's right, or do I just have to take the hit and pay the charge?
Thanks...
0
Comments
-
Yes that will work.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.6K Banking & Borrowing
- 252.2K Reduce Debt & Boost Income
- 452.5K Spending & Discounts
- 241.3K Work, Benefits & Business
- 617.7K Mortgages, Homes & Bills
- 175.8K Life & Family
- 254.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards