However, any late or missed repayments can have a negative effect on your credit score and your ability to borrow money in the future. With unsecured loans, the lender can’t take away any of your assets, such as your home, if you fail to repay what you owe. Is car finance a secured loan? An HSBC Personal Loan is a form of unsecured lending. an increase in living costs such as rent or mortgage repayments.reduction in working hours, fixed contract end dates or zero hour contracts.employment changes such as imminent retirement, maternity, paternity or extended leave.If you think there might be a change in your circumstances that could increase your outgoings or reduce your disposable income, please contact us by phone or in branch for further guidance. Changes to consider are: the settlement figure will include interest up to the date which is 28 days after you tell us you want to repay the loan, plus an additional month.if you make an early repayment there may be a reduction in the amount of interest you'll have to pay and this will be reflected in the settlement figure.It's necessary to pay all the amounts owed if you wish to close the loan once you've given us notice, we'll give you a settlement figure.you can repay your loan in full at any time by giving us notice in writing, by visiting a branch or by calling us on 03457 404 404.at the beginning of the loan we work out the interest you'll pay over the whole period of your loan and add this to your loan balance.you should also consider if any early repayment charges apply and if this form of borrowing is appropriate for your circumstances.spreading your payments over a longer term means you could end up paying more overall than under your existing arrangements, even if the interest rate on this new loan is less than the rates you're currently paying. ![]() if you're using any part of this loan to pay off or reduce existing loans/debts (including combining these into a single loan), it's important to consider not just the interest rate and monthly repayments, but also the term of this loan compared to the remaining term of your existing loans/debts. ![]()
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