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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 the loan I have with them. They said 'no'. They also wont give me a redemption statement either?
    Can they do this?

    Thanks
    Tags: None

  • #2
    Who is the lender ? and what kind of loan is it ?

    Do you have a copy of the agreement and are there any terms about early settlement etc ?
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

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    • #3
      The Lender is called Mint Bridging. Its unregulated I think 400k for a bridging loan in 2016 on a property that was to be a buy to let? Its not an early repayment. Its reached the end of its term and I want to repay, have the finance organised but they have refused. They wont give me a redemption figure either. I'm lost as to why they wont accept it, they wont give me a reason and Im completely powerless. They are now charging me 3% per month as they say Im over time but they wont accept a repayment? The agreement is 36 pages long and it doesnt talk about redemption from what I can see.
      Any thoughts?

      Comment


      • #4
        The Lender is called Mint Bridging. Its unregulated I think 400k for a bridging loan in 2016 on a property that was to be a buy to let? Its not an early repayment. Its reached the end of its term and I want to repay, have the finance organised but they have refused. They wont give me a redemption figure either. I'm lost as to why they wont accept it, they wont give me a reason and Im completely powerless. They are now charging me 3% per month as they say Im over time but they wont accept a repayment? The agreement is 36 pages long and it doesnt talk about redemption from what I can see.
        Any thoughts?

        Comment


        • #5
          Haveyou written to them? there can be confusion with call centre staff. I would write to them send payment and say that presentation to their bank is acceptance of the re-payment.

          Comment


          • #6
            I have not encountered such a situation. I think that the creditor has no right to do so. but you should consult with professionals in this area.

            maybe this company https://instant-loans-usa.com/title-loans/texas will answer your question.

            I took a title loan in this company last year and they consulted me on all issues of interest to me in this area. write to them about your problem. they have contacts on their website
            Last edited by Milupa; 30th July 2021, 07:31:AM.

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            • #7
              Have a look here:- "https://mintpropertyfinance.co.uk/wp-content/uploads/2021/02/MPF-Tariff-of-Charges-Document-Version-2.0-%E2%80%93-260221.pdf"

              Link would not embed.

              Comment


              • #8
                Just spotted this is an old post.

                SORRY.

                Comment


                • #9
                  All customers who apply online are subject to credit checks by Provident. Your loan application will not be approved if your credit score is too low. In addition to these money leaders, there are a number of good lending institutions. I have found on the internet this site moneystar.co.za. I found some information regarding credit cards on this site. As I can see, these guys have been in business for more than 12 years. There must be a lot of experience behind them, so I feel comfortable trusting them. The interest rate on my online personal cash loan was small, so I tried them out. Since they gave me the best terms, I am happy, since others couldn't match them.

                  Comment

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