What is a personal loan cooling off period?

A cooling off period allows you to cancel or withdraw from your loan agreement for a period of time after you’ve signed. At Shawbrook, the cooling off period on an unsecured loan starts from when you sign the Credit Agreement and ends 14 days from the day after the date we inform you in writing that we have executed (signed) the agreement.
In this time, you’re free to cancel or withdraw without any fee. If you choose to cancel or withdraw you must pay the full funds back within 30 days.