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

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

    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
    Tags: None

  • Ukmicky
    replied
    Originally posted by Ukmicky View Post
    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/

    Leave a comment:


  • Ukmicky
    replied
    Originally posted by badger123 View Post
    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

    Leave a comment:

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