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Hello and thank you for your question. My name is ***** ***** I will be very pleased to assist you. I'm a practising lawyer in England with over 15 years’ experience. Please be aware that although I will endeavour to reply to you promptly, I am also in full time private practice and so I may not be available to respond immediately and it may also take me a few minutes to prepare a reply. The site will notify you as soon as I respond. I look forward to working with you to answer your question fully.
May I confirm if this is a unsecured personal loan with a commercial lender, another form of private loan arrangements, a mortgage or some other form of loan please?
thank you. It is a legal right to pay off a personal loan early. In general terms, you need to contact the lender and ask for a redemption statement. Different lenders have different processes for this but most major lenders have relatively automated processes to enable you to do so.
Zopa is no different and has an entirely automated process for repaying loans early details of which can be found at the following link along with detailed instructions:
https://www.zopa.com/help/article/can-i-pay-off-my-zopa-loan-early
https://www.justanswer.co.uk/law/
Alternatively I can send you an offer to extend the question and answer time to enable us to examine this new area of questioning if you prefer. I am grateful in anticipation of your understanding
I hope the above is of some assistance but if you have any further questions, please revert to me.