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Published: 12/05/2015 and written by P Smith
Surely as a customer borrowing money you should only pay interest on what you owe at the time, right? So as you pay part of your loan off, you owe less, and the interest payable comes down accordingly. Why should you have to pay interest based on the whole amount you originally borrowed, even though you don’t owe that now?
Mr Lender is a trading name of PDL Finance Limited, Company Number 06738633. Registered Office 6th Floor, 25 Farringdon Street, London, EC4A 4AB, UK. PDL Finance Limited is authorised and regulated by the Financial Conduct Authority under registration number 673310. You can confirm our registration on the Financial Conduct Authority's website www.fca.org.uk or by contacting the Financial Conduct Authority on 0800 111 6768. Data Protection ICO number Z1575177