Borrowers face early-repayment charges on 50 % of all unsecured loans
Paying down a loan sooner than anticipated can raise a huge fat off your arms – however the greater part of providers will hit you having a hefty charge for clearing the debt in front of the agreed timeframe.
Which? Analysis has unearthed that 59% of signature loans now available come with early-repayment fees (ERCs), a charge used in the event that you pay off your financial situation prior to the end of the deal.
We expose the mortgage providers striking clients using this cost and how to locate that loan without ERCs if you would like the choice to cover down the debt sooner penalty-free.