An early settlement figure (sometimes called a redemption figure) is a snapshot of what you owe if you repay the entire outstanding balance on a particular date. Because interest accrues daily, the figure is date-specific: it will be different for 15 June versus 30 June, for example. We provide settlement figures valid for 14 calendar days.
How to request a figure
Log in to clients.credicorp.co.uk and go to Loan details > Settlement quote. Choose your intended settlement date and the system will generate a breakdown showing outstanding capital, accrued interest to that date, and any early repayment charge applicable under your facility agreement. For complex facilities or queries about the calculation, contact our servicing team who can prepare a detailed breakdown within one business day.
What the figure includes
- Outstanding capital: The original drawdown minus all principal repaid to date.
- Accrued interest: Interest that has built up since your last payment date to the settlement date you specified.
- Early repayment charge (if applicable): Typically expressed as a number of months' interest, and usually only applies in the first year of the facility (illustrative — exact terms are in your agreement).
- Any arrears: If your account has missed payments, these are included in the settlement total.
How to pay
Settlement must be paid by CHAPS or faster payment on or before the quoted settlement date. Once received in full, we will release the loan record as satisfied, send a confirmation letter, and cancel the Direct Debit mandate. Allow one to two business days for written confirmation to appear in the portal.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Can I overpay to clear my loan faster?, Can I pay by bank transfer instead of Direct Debit?.