Customers often ask whether a particular adjustment counts as changing their loan terms. The distinction matters, because a formal change to your agreement is documented and accepted before it takes effect, while routine housekeeping is simpler.
Routine adjustments
Some changes do not alter the substance of your agreement. Updating the contact details we hold, or switching the verified business account repayments come from, are administrative and do not change what your company owes or over what period.
- Updating company contact details
- Changing the paying business account
- Adjusting your repayment date (timing only)
Changes that vary your agreement
Other changes alter the core terms and are treated as a variation. These include a top-up, a revised term, or a change to the repayment amount or structure. Because they affect the balance, the cost or the schedule, they are confirmed in a revised agreement that an authorised company officer must accept.
- Top-ups and additional borrowing
- Shortening or extending the term
- Changes to repayment amounts or structure
How we handle a variation
We show you the new terms first and apply nothing until you accept them. You are never moved onto different terms without agreeing. If you are unsure which category your request falls into, ask our team.
Credicorp lends only to UK limited companies and LLPs for business purposes.
See also: Can I shorten or extend my loan term?, How do I change the bank account my repayments come from?, Will a top-up change my repayments or term?.