Lenders will allow you to settle a loan before it’s due. But if you think you’ll be doing this it’s a good idea to check the terms of the loan before you accept the offer. Many lenders will reduce the interest charged if you settle the loan early. But some will say you have to pay the full interest regardless if you settle the loan earlier than required.
Be sure to read the terms of the loan agreement especially the early repayment penalties. This way you’ll know of any costs involved in settling your loan early. Our quick loans online has the option to repay early with terms that can be adjusted to your financial needs.
All direct lenders are regulated by the FCA (Financial Conduct Authority). This means they must be clear about the terms of the loan they offer you. If you can’t find the information you’re looking for, ask.
10