What is meant by the total amount repayable?
14 January 2025
This is the total amount you will repay over the term of the loan if you make all the repayments on time. It’s the total amount borrowed added to the interest payable over the term of the loan. You will pay more the longer the length of the loan as you will be paying interest for longer.
Loans and Hire agreements
Section 2: Loan customers only
When do repayments commence?
The first payment will be notified in the welcome letter which you will receive from the lender once the loan agreement ...
Loans and Hire agreements
Section 2: Loan customers only
How do I request the current balance of my loan at any time?
The lender will send you an Annual Statement on the first anniversary of the agreement start date and annually thereafte...
Loans and Hire agreements
Section 2: Loan customers only
What happens if I miss a payment?
If you don’t make the monthly repayments on time your credit rating and your ability to access credit in future may be...