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Central Lending - Secured Loan
weeziewoo
Posts: 10 Forumite
Hi - Took out a secured loan in 2008 with Central Lending (was Central Trust) for £26,000, paying £379 p/m for 180 months. We received a letter recently stating that there will be a shortfall at the end of the loan term and they need an extra £97 p/m for the remainder of the loan to cover this - can they do this??
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Comments
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Hi - Took out a secured loan in 2008 with Central Lending (was Central Trust) for £26,000, paying £379 p/m for 180 months. We received a letter recently stating that there will be a shortfall at the end of the loan term and they need an extra £97 p/m for the remainder of the loan to cover this - can they do this??
what do your T&Cs say?
what is a variable interest rate loan?0 -
Haven't read all the T&C's as yet - it was a fixed term loan thou0
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So, the term is fixed, is the rate fixed?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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