Can I make overpayments on a personal loan in the UK?
Four UK lenders' own pages, read side by side: how you overpay, whether notice is needed, any fee, and whether the term or the payment falls.
Disclosure
Why does my loan settlement figure include 58 days interest?
Settlement figures run above the balance because lenders may add up to 58 days' interest. Five lenders' own wording side by side, and the clause priced.
Why was I offered a higher APR than the representative APR?
The advertised rate is a marketing-rule figure, not your quote. We read FCA rule CONC 3.5 and two live loan pages to show why your APR came out higher.
Klarna and Clearpay after regulation day, assessed on what each now says about its own permission
Two buy-now-pay-later documents reissued on the day deferred payment credit became regulated. One tells you which agreement governs you; the other tells you what permission it holds. Neither tells you both.
CreditLadder, assessed: what reporting your rent to three agencies does, and what the contract says it cannot
A rent-reporting service whose front page promises an improved credit file and whose terms promise a record that may cut either way. Assessed on the published documents, not the proposition.
Later life lending grew on the year; lifetime mortgages did not
New loans to older borrowers rose 13.4% year on year in the second quarter, on UK Finance's figures. The lifetime mortgage line inside that total moved the other way.
Registered with the FCA is not the same as authorised by it
Two phrases that appear in lenders' footers and are read as the same thing. Assessed on what each genuinely tells a borrower, and how to settle the question without trusting a footer.
The UK personal loan, assessed from the cost of credit outward
The most conventional borrowing product on the British market, assessed on disclosure quality, exit terms and what the advertised rate does not tell an applicant.
Representative APR still misleads more than it informs
The advertised rate must be available to just over half of successful applicants. Almost everyone reads it as the rate they will be offered.