When repaying your existing loan early, you'll pay 58 days interest (28 days if loan term 12 months or less). If the remaining term of the existing loan is less than 58 days (or 28 days) you will pay interest on the remaining number of days to close the loan early. Please remember, if you decide to borrow over a longer term, this may mean that you'll pay more interest overall.
To find out your outstanding loan balance, current rate, and your Early Repayment Charge, please call us or visit your local branch.
If you cancel your new loan in the 14 day cancellation period we are under no obligation to reinstate your old loan. However we could offer a new loan for the amount of the old loan at the current rates available.