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%. An automatic renewal is not available if the client is a resident of Quebec.
Alternatively, you can take action to refinance a loan after the loan has been open for 30 days.
An automatic renewal or refinance will be subject to the terms of a new loan agreement, which will include a new administration fee.
You can repay the loan before or on the maturity date.