Cancelling your loan
How to withdraw from your loan agreement if you change your mind.
Your right to withdraw
There is a period of time where you can cancel the loan agreement. You can do this without giving a reason. This is called the right to withdraw. It ends 15 days after one of the following happens:
- We give you a copy of the signed agreement.
- We let you know in writing the agreement has been signed and you can ask us for a copy of it.
You must repay what you've borrowed as soon as possible by bank transfer or cheque. This must be no later than 30 days after letting us know you want to withdraw. Otherwise we might ask the court to order that you pay back the money.
As long as you repay within 30 days, we won't charge any interest.
If you're struggling with your finances, find out how we can help.
Information:
You won't be able to re-open the loan once you've withdrawn from it. If you change your mind, you'll need to return all the funds borrowed. You'll then need to wait 8 days before applying for a new loan.
If it's been longer than 15 days
If your right to withdraw period has ended, you'll need to repay any interest owed as well as the balance of your loan. This is technically paying off your loan early.
How to cancel your loan
To cancel your loan, you can call, write to us or come into a branch.