Is there an early repayment charge?

If you wish to repay the outstanding balance of your POS loan early, you should contact us by using the details. We will then provide you with a settlement figure and details of how to settle the account. The settlement figure we calculate for you will be the total of all sums (including the outstanding balance of the Amount of Credit, interest, any charges and arrears) which would have been payable by you if you had not settled early less a reduction. This reduction includes the interest and other charges that you will not have to pay because you have chosen to settle early.

This is calculated this in accordance with the Consumer Credit (Early Settlement) Regulations 2004. While the calculations are complex, the settlement figure you will have to pay will include no more than 58 days’ worth of interest calculated on the balance outstanding at the time when we provide you with the settlement figure. The settlement figure provided will be valid for 30 days.

 

If you have taken out a loan with us before 13th December 2021, please use the below contact details.

Opening hours (Exc. Bank Holidays) are:
Monday - Thursday: 8am – 8pm
Friday: 8am – 6pm
Saturday: 9am – 2pm

Please call 0345 650 6290

 

If you have taken out a loan with us on or after 13th December 2021, please use the below contact details.

Opening hours (Exc. Bank Holidays) are:
Monday - Thursday: 8am – 8pm
Friday: 8am – 6pm
Saturday: 9am – 2pm

Please call 0333 003 0260

You can also log in to your customer portal to contact us: https://myloan.shawbrook.co.uk/