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Front loading on a loan
diannemarie
Posts: 4 Newbie
in Loans
I took out a loan of £20,000 2 years ago with Northern Rock. I have been paying £273 a month since then.. and I still owe £20,000 if I want to pay it off today. Is this Legal?
0
Comments
-
what was the APR
how long was the loan for
did you take out PPI
were there any payment free months
are you behind in any payments
is the loan unsecured
the agreement will say the settlement figure at 1/4, 1/2 and 3/40 -
It was 5.8% over 10 years
No PPI
No Payment free months
Never missed a payment
Unsecured
After 30 months its 20,013.46
After 60 months its 14,265.15
After 90 months its 7638.71
Think I'm going to look into this.. As this can't be right. Going to pay it off anyway, so just want to make sure I'm getting the best deal here.0 -
You will have paid off the interest first, thats why you will still owe 20kLBM - 30/07/09
Started DMP in Oct 2009, went wrong. Due to start new DMP in March/April 2013. Bring it on!
:beer:
0 -
there is something very wrong with the figures
are you sure the loan was 20,000... the figures would be about right if you had borrowed about 25,000?0
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