By law, you have a cooling-off period of 14 days once your loan has been paid out 👍
If you change your mind about the loan:
- You can just tell the lender within 14 days.
- Return the full loan amount within 30 days, including any interest accrued at this time.
- Once done, your account will be closed.
- All lenders have slightly different procedures for canceling, so contact your lender to find out exactly how you should cancel.
- See the FCA’s page on your Right to Cancel.