What do you do when a lender refuses to take full repayment of a loan....

[badger123]

Hi,

I offered a lender full repayment of an interest only secured loan I have with them. They said 'no'. They also wont give me a redemption statement either.
Can they do this?

Thanks

[Ukmicky]

Hi,

I offered a lender full repayment of an interest only secured loan I have with them. They said 'no'. They also wont give me a redemption statement either.
Can they do this?

Thanks

Have you checked out the consumer credit Act


Consumer Credit (Early Settlement) Regulations 2004

Consumer Credit (Settlement Information) Regulations 1983.

The above will hopefully come to your assistance

[Ukmicky]

Have you checked out the consumer credit Act


Consumer Credit (Early Settlement) Regulations 2004

Consumer Credit (Settlement Information) Regulations 1983.

The above will hopefully come to your assistance

https://www.citizensadvice.org.uk/de...reement-early/