MAY I CHANGE THE DUE DATE OF MY LOAN?
If this change relates to a different date in the existing month that the payments are due, this can be catered for. As the interest is calculated on a daily balance outstanding, and charged to the loan each month, any change will impact the amount of interest charged over the full term of the loan. Our Customer Service staff are able to provide information to you in relation to the impact of such a change on your repayments, to formalise any change, we will require a change request in writing. The request may be by fax
ARE THERE ANY CHARGES ASSOCIATED WITH A CHANGE TO THE PAYMENT DUE DATE?
There is no fee charged for this type of variation, but as mentioned above, the variation may result in additional interest charges over the term of the loan.
CAN I MAKE ADDITIONAL PAYMENTS TO MY LOAN?
Yes, additional payments may be made at any time. Unless otherwise formally requested, the scheduled payments would continue to draw under the direct debit authority.
HOW DO I MAKE ADDITIONAL PAYMENTS?
Additional payments may be made by direct credit to our bank account or by cheque. With each of these methods it will be necessary for you to identify your payment by recording your contract reference number. Please contact us by phone
and we will provide you with the necessary details.
IS THERE A BENEFIT IN MAKING ADDITIONAL PAYMENTS?
As the interest on your loan is calculated on a daily balance outstanding, additional payments may result in interest savings over the term of the loan.
IS THERE A PENALTY FOR EARLY REPAYMENT?
There are no penalties or early termination fees charged for early repayment.
I WISH TO ARRANGE EARLY REPAYMENT OF MY ACCOUNT. WHO DO I CONTACT FOR THIS?
A payout figure may be obtained at any time by contacting us by phone
MY PAYMENTS ARE DUE ON A SEASONAL BASIS. WILL I RECEIVE A REMINDER PRIOR TO THE PAYMENT FALLING DUE?
A Seasonal Reminder letter will be issued and posted to you 30 days prior to the payment falling due. This letter will detail the payment amount and due date.
WILL I RECEIVE A NOTIFICATION WHEN THE FINAL LOAN PAYMENT IS FALLING DUE?
A letter will be forwarded to you 30 days prior to the expiry of your loan. This letter will detail the final amount due and the expiry date.
CAN I MAKE PAYMENTS WITH A CREDIT CARD?
No. We are unable to accept credit to repay a credit facility.