Early paying of capital, charges?


R

Richard 3rd

10 years into a £30,000 interest only loan, I wish to pay off £10,000 pounds
capital and convert the other £20,000 into repayment can I expect a charge
for early repayment of capital.

And if so roughly how much?
 
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R

Ronald Raygun

Richard said:
10 years into a £30,000 interest only loan, I wish to pay off £10,000
pounds capital and convert the other £20,000 into repayment can I expect a
charge for early repayment of capital.
Unlikely for the capital, and very unlikely for the conversion,
but impossible to say for certain. It'll depend on the precise
terms of your loan agreement. Find it and read it.
And if so roughly how much?
Depends on what it says in the agreement. Unlikely to be more
than a few percent.
 

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