Hoping someone can help on something that is out of my area of knowledge.
Parents took out a secured loan with Prestige Finance in 2006 - regulated under the CCA.
The repayment period is due to come to an end a couple of months and so they only have a couple of payments left.
They had a letter in last couple of days informing them that they also owe £900 redemption and the figure has been calculated in accordance with the CCA 1974.
Can they make this extra charge even though the loan is not being paid off early?
Am waiting for a copy of the T&C's to see what they say, but can anyone give us an idea in the meantime - as we know not everything in the T&C's is lawfull anyway.