Flexible loans, are loans that allow you to pay extra money each month or a lump sum at any period during the loan term. This will reduce the amount of interest paid and the loan period will reduce if you keep up all your payments on time.
Some lenders allow you to defer the first payment of the loan for the first five months, but the interests charged on these loans are from the day the loan was completed.
If you feel you could pay extra payments on your loan, you should consider a flexible loan; this will reduce your overall interest payment.
If you would like more details on flexible loans from Freedom Finance, complete our online enquiry form or contact our customer service team FREE on 0800 032 3826.