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Why does a longer repayment term need a fresh budget check?
A lower amount today can continue across foreseeable changes in work or household commitments.
Review the new end date and total as well as the immediate relief. Do not label the change a saving until the costs and assumptions of both positions have been compared.
Details
- Identify the amount received and the opening balance
- Read fee treatment in the written offer
- Compare the dated repayment schedule
Before you compare offers
Read the borrowing-cost checklist
Read which records support an application, then compare the checklist with the documents requested by the provider.