You can cancel and repay your loan within 14 days of receiving the funds (known as the cooling-off period). If you do this, you won’t owe any interest or fees; this right is protected by law.
How to Cancel and Repay Your Loan:
Keep your direct debit active during the process to avoid any negative impact on your credit file. Any payments collected will be refunded once your loan is cancelled.
Log in to your Lendable account and go to the 'Manage' tab to find the bank details for repayment.
Make a bank transfer from your account to return the loan amount (bank transfer is the only accepted repayment method for cancellation).
Your loan will remain active until we receive the repaid funds.
We’ll email you to confirm your loan cancellation once the funds have been received.