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Lloyds TSB loan early repayment fee
Hi, We have a loan with TSB which currently has £10,700 remaining, however we came into some money from family and are in the position to be able to pay off this now. I see there is the early resettlement amount of 58 days of interest which could be a couple of hundred on this amount. However looking on some other threads it seems it might be possible to avoid this payment, however the threads have been 9 years old and I dont know if the banking system has changed.
If I was to make an overpayment of £10,700 less one months direct debit, and then wait for nexts month DD to settle the loan would this help me avoid the fee?
Thank you in advance :T
If I was to make an overpayment of £10,700 less one months direct debit, and then wait for nexts month DD to settle the loan would this help me avoid the fee?
Thank you in advance :T
0
Comments
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It depends on whether they charge early settlement on all overpayments.
Ask them (or check your terms).0 -
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