Ledn Loans have a term of 12 months.
If the outstanding loan amount of any of your loans has not been paid in full at maturity, the loan may be automatically renewed as long as the LTV at maturity remains at or below 60%.
Alternatively, you can take action to refinance a loan after the loan has been open for 30 days.
An automatic renewal or refinancing will be subject to the terms of a new loan agreement, which may include a new administration fee.
Canadian clients residing in the provinces of QC, NB, NS, and SK with open loans are not eligible for automatic loan renewal or refinancing.
You can repay the loan before or on the maturity date.