Thanks for that, good to know. I'm going to see what they say and take it further if needs be.

Hi I wondered if anyone can help me understand my loan early srettlement figure please?? We had a personal loan from Natwest (which thaey stuckk PPI on - but that's another story!). The loan was for £9488 plus 2205.40 for PPI so a total of £11693.40. On the credit agreement it states : "The customer has the right to repay the loan before the end of the term by making a single payment calculated under a formula which limits the amount of the total charge the customer pays. The amount the customer would have to pay if, for example, the customer wanted to settle when a quarter of the term had passed would be £6747.65; if half the term had passed the amount would be £5072.46 and if 3/4 had passed it would be £2895.59. In calculating the amounts shown, the assumption is made that all instalment repayments due are paid on time and no default interst or charges are incurred. The amounts shown are accordingly only illustrative." The loan was over 60 months, so 1/4 of the way through would be 15 months. We paid it off after 18 months and yet paid £7782.35. Have I misunderstood something? Are they allowed to change the settlement figure? We had no missed payments or charges so shouldn't the agreement figure stand? Any help appreciated!