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.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Santander Bank Loan
nealconyard
Posts: 1 Newbie
in Loans
Hi,
I currently have a Loan with Sanatnder which I wish to pay off in full. I received an annual summary in December with an outstanding balance of £6340.54. I have now paid a further 2 installaments of £280.43.
On requesting a settlement figure I have been told that that figure is £6173.60. This figure doesnt seem correct although I do appreciate that Santander charge an early settlement fee.
Rather than requesting to settle the account shoudl I make a lump sum early repayment (of about £10 less than the outstanding balance) and request a new settlement figure based on the revised balance or is it too late for that now?
What are peoples thoughts on this matter?
I currently have a Loan with Sanatnder which I wish to pay off in full. I received an annual summary in December with an outstanding balance of £6340.54. I have now paid a further 2 installaments of £280.43.
On requesting a settlement figure I have been told that that figure is £6173.60. This figure doesnt seem correct although I do appreciate that Santander charge an early settlement fee.
Rather than requesting to settle the account shoudl I make a lump sum early repayment (of about £10 less than the outstanding balance) and request a new settlement figure based on the revised balance or is it too late for that now?
What are peoples thoughts on this matter?
0
Comments
-
Early settlement fee should be a max of two months interest. Just a thought has your second payment of £280.43 cleared.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards