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business loan - wish to make early settlement

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  • business loan - wish to make early settlement

    I have a secured business loan - balance o/s is 13K. Interest rate at 7.5% with 4 years remaining. I am now in a position to make an offer of settlement. Would this be something that the lender (building society) would be likely to accept? How should I go about it and what might be a reasonable discount

    Grateful for some advice
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  • #2
    Re: business loan - wish to make early settlement

    The only settlement they would give will be an interest reduction wth and PPI etc as you are paying the loan off in a shorter term

    Before you do anything phone the building society and ask them for a settlement figure

    It is free and no issue for them and will be valid normally for 30 days

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