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Fixed rate Hire Purchase that combines the best of
VIP and Flexibuy with fixed equal monthly repayments of capital and
estimated interest. Particularly appropriate if early settlement is
expected or there is the possibility of lump sums being paid off
during the agreement term. Both are possible without penalty and
extra savings would become available because the interest is
calculated daily on the remaining balance. Any lump sums paid during the
agreement would consequently shorten the repayment period - fix the
payment and float the period. The actual interest rate is based upon a
negotiated percentage rate at the start of the agreement. This facility is not available to Sole Traders or Partnerships when borrowing less than £25,001.
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