Loan

  • mac95's Avatar
    Fresh Eyes
    Hi. I'm thinking about getting a loan around £10.000.
    ​​​​​​​I want to pay it off early, lets say i wanted to pay it if after a year, would I need to pay any fees for the early settlement, what would be the figure more-less?
  • 1 Reply

  • Verified Answer

    JoeC's Avatar
    Your Community Expert
    Verified Answer
    Hi @mac95, thanks for getting in touch. We can only calculate early settlement figures from the date they are requested and these are then valid for 30 days, so I wouldn't be able to say how much this would cost a year from now. A settlement figure would include an interest rebate as we charge all interest upfront so it is likely to be cheaper to settle early, but again I couldn't say this for sure as it depends on the interest rate and term of the loan. I hope this helps!