Quote:
Watch out for Alliance & Leicester! Their loans work by you paying the whole expected interest off first BEFORE you start to pay back the money you actually borrowed. This means that if you want to early settle you still pay the whole amount of interest for the term of the loan! Phew!...spoken like a true banker! 
Chris
Err, isn't this how all personal loans work? If you want to repay it early then they will rebate you for the interest that you would've paid over the entire term i.e. if you settle a 3 year loan after 2 years, then you get a rebate on the interest you would pay in the 3rd year. No bank is entitled to charge you interest over a period where you're not actually borrowing any money...
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