Your Post Office Loan is managed by the credit rating Act 1974 (CCA) which provides you protections that are certain entitlements whenever getting into a credit agreement. One of these brilliant entitlements is you originally signed up for that you can choose to repay your loan either partially or in full before the end of the term. What’s the distinction between a Partial and Comprehensive Early payment?
вЂў Partial Early Settlement вЂ“ This is when you make a repayment towards the amount your debt to us that will be in addition to your normal contractual month-to-month repayment quantity. There’s absolutely no limitation to your wide range of early settlements you may make throughout the term of the loan and there is no minimum or optimum amount you’ll spend.
вЂў Comprehensive Early Settlement вЂ“ This is how you spend the complete quantity you owe to us and clear your loan ahead of the end for the original consented term.
Both in instances, you will end up eligible to a rebate (more information on rebates are obtainable below).
You are able to request a Partial or Full Early Settlement by either calling us on or composing to us at Customer Services Department Post Office Loans Customer Service Team