What would happen if I want to move house during the term of my loan?    

 

If you have an unsecured loan, nothing happens. You just continue paying the loan as before.

If you have a secured loan, the lender has a legal right to have its' loan repaid in full before you receive a penny from the proceeds of the house sale. The solicitor handling your house sale will pay off the loan from the sale proceeds. Possibly the cheapest and simplest solution would be to increase the size of your mortgage on your new home to offset the money that has to be repaid to your loan company.

 

 

 

 

 

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