Lloyds TSB, Loan settlement adjustment fee

mikemessa

Hi MSE, I currently have a loan with LLoyds TSB. I now have enough money to pay the loan in full however it shows I have to pay an adjustment fee to get out of the loan early, see below

Your settlement balance of £14749.34 includes your current balance of £14421.4, a settlement adjustment of £250.0 and interest due to date of £77.94.

Is there a way around it so I dont pay the settlement adjustment fee?

Thanks

jonesMUFCforever

Pay most of it off now and let the final d/d payment go through as normal.

DevCoder

JonesMUFC is correct, pay all but the final DD amount and let the final DD draw the loan down to 0.

mikemessa

Thanks for the information, much appreciated :-)