What's an early settlement quote and how can I get one?

Your early settlement quote shows you how much it would cost to pay off your loan in full before the end of your agreed term. This will be made up of how much of your loan is left to pay, interest owed and an early repayment charge if one is applicable to you.

Your quote will also tell you when you need to make the payment by. If you don't make the payment in the allotted time your quote will expire. Your quote will also expire if you change your repayment date, make an extra repayment or miss a payment after generating your quote.

If you require a settlement statement, check out our FAQ.

What's the rebate?

By settling a loan early, you may end up paying less in interest than if you stuck to the full loan term. If this is the case, you'll see your 'rebate' amount, which is how much you'll save by settling your loan early. If your rebate is shown as £0, it could be because you're settling close to your loan term end date, and therefore aren't receiving a rebate.

How can I get a settlement quote and statement?

If you want to settle your loan early or are just curious about how much it would cost, you can find all the details in our app or on our website.

Please note: If you have a pending monthly payment, we’ll calculate your quote as if the pending payment has already cleared successfully.

If you have a pending extra repayment, you’ll have to wait until this has cleared before you request a quote.

Getting your settlement quote:

1. Log in via our app or website

2. Click on your loan. If you have more than one, select the loan you want the statement for

3. Click on the ‘Make an extra repayment’ button

4. Then choose ‘pay off your loan early’

5. Click ‘generate settlement quote’. You’ll be able to view your settlement quote on screen and you’ll receive an email with the quote.

6. If you need to download your settlement quote as a statement, you’ll see ‘proof of settlement’ below your quote. Select this to download your quote.

Depending on when you took the loan out, the period your settlement quote is valid for varies. You’ll see how long yours is valid for when generating the quote. If you need a settlement quote that lasts longer than a day, please contact us and we’ll be happy to help.