Submissions by topics "Should creditors have a right to compensation for early repayment and if so what should the threshold for early repayment be that triggers the right to compensation?"
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Yes, credit providers should have the right to receive compensation on foot of early repayment where relevant.
In the case of early repayment, credit agreements and pre-contractual information...
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Yes. While not directly applicable to credit unions as all credit union loans can be repaid at any time without any extra costs or fees, there is a need to provide a right for compensate where a...
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Yes. If there were to be no compensation for broken funding, it could result in the provision of fixed interest rates being discouraged, which would not be in the interests of consumers. In...
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Whilst credit union members can repay a loan early without any additional cost, creditors should have a right to compensation for early repayment in circumstances where the borrower is not availing...
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While creditors should have a right to compensation for early repayment there should be a clear formula for calculating that compensation which is publicly available and outlined in the credit...
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