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Paying back loan early
Daybreak15
Posts: 7 Forumite
in Loans
Hi
First post I have been browsing for a while. What is the best way to pay back a loan early with out incurring that may charges.
Thanks
First post I have been browsing for a while. What is the best way to pay back a loan early with out incurring that may charges.
Thanks
0
Comments
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-read the T&Cs to see what their rules are.0
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Daybreak15 wrote: »Hi
First post I have been browsing for a while. What is the best way to pay back a loan early with out incurring that may charges.
Thanks
Pay the loan back in April !"Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0 -
Hi.
I can pay back early is there anyway to reduce the interest?
Why payback in April?0 -
Daybreak15 wrote: »Hi.
I can pay back early is there anyway to reduce the interest?
Why payback in April?
Your opening post mentions the May charges.....Pay it back in February or March if you like.
Lenders normally charge you 2 months interest when you settle early, but as Clapton says, read your T's&C's.
Call them for a settlement figure and pay it, thats the normal procedure."Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0 -
You wrote "may" instead of "many" - a joke.Daybreak15 wrote: »Hi.
I can pay back early is there anyway to reduce the interest?
Why payback in April?
How do you mean "reduce the interest"? Reduce the interest rate that you're paying just now?"Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
If you are thinking of paying your loan off early it is better to pay it off sooner rather than later. This is because you pay off more interest at the start of your loan then at the end.0
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Sorry may should say many.
I have a £15000 loan to pay of is it best to pay it off in on go or make 2 or 3 payment to clear the loan.
Thanks.0 -
Daybreak15 wrote: »Sorry may should say many.
I have a £15000 loan to pay of is it best to pay it off in on go or make 2 or 3 payment to clear the loan.
Thanks.
what do the T&Cs say about early repayment and partial repayments?0 -
It says I can pay it of in part or full at any time.0
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Daybreak15 wrote: »It says I can pay it of in part or full at any time.
does it say there are any charges?0
This discussion has been closed.
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