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Excess bank loan
Kirsty_k
Posts: 1 Newbie
Hi what’s the best way to clear my bank loan I’ve still got 8 years left, please help
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Comments
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Overpayments.0
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Ask them for a settlement figure, pay them this sum and it's cleared - simples
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We would need a lot more information to give decent advice.
How much is the loan for?
What interest rate is it at?
Can the loan be overpaid?
Do you have a lump sum to be able to pay it off?
Do you have extra funds monthly to overpay?0 -
what’s the best way to clear my bank loan I’ve still got 8 years left
Is this a secured loan or an unsecured loan?
And is it a repayment or interest only loan?
Is there any PPI involved in case that had been missold so you could perhaps reclaim and offset any refund against the balance outstanding?
Have there been any excessive charges which could be questioned?
May I ask what is the reason for wanting to clear the loan early?
As others have said, a little more background would be helpful.
Di0
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