Nothing to pay until 2026
Pay nothing until 2026 means that you will have selected NOT to have your installation until on or after the 1st of January 2025. If you agree to have an installation prior to the 1st of January 2025, you will start making payments 12 months after you have signed the Satisfaction Note, this date will NOT be in 2026. Unless you want to be charged interest, you must also pay off the full balance by the end of the 12 month deferral period.
If you repay all of the balance by the end of the deferral period you will pay no interest, there may be an exit fee of £29 on some funding products.
However, if you fail to repay all of the balance by the end of the deferral period, you will incur interest which will be backdated to the date your agreement commenced, interest will be charged on the whole of the balance outstanding, and there may be additional fees.
The typical example below shows how much interest you would pay on a typical loan of £3500 if you do not pay off the balance by the end of the deferred period.
Credit Subject to Status, Offers Subject to Change without notice, Offers not available on all products, Ask for a personalised quotation.
Example Payment:
| Representative APR 19.9% variable | |
|---|---|
| Cash Price | £3,500 |
| Deposit of | £0 |
| Amount of Credit | £3,500 |
| Interest Rate (Fixed p.a.) | 19.9% |
| Representative APR | 19.9% |
| Duration (inc. 12 months deferral period) | 132 |
| 120 Monthly Payments of | £75.25 |
| Total Amount Payable | £9,030.00 |
| Settlement Fee | £29.00 |