Early Payment
On our prime loan plans the following early settlement penalty is payable if you pay your loan off early:
| Repayment Date | Penalty |
| 1st year | 6% of the
outstanding balance |
| 2nd year | 5% of the
outstanding balance |
| 3rd year | 4% of the
outstanding balance |
| 4th year | 3% of the
outstanding balance |
| 5th year | 2% of the
outstanding balance |
| 6th year + | 1% of the
outstanding balance |
Full details of the repayment penalties on all the loan plans were contained in your loan agreement. If you are unsure of any of the terms you should ask your solicitor for a full explanation and appropriate advice.
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