Premium over 10 payments
Deposit = 25% of Insurer’s premium plus + Admin Fees
Monthly Payments =
Remainder of the premium (after deposit) + Plan Finance installment charge of 10% or £50 (which ever is the greater).
Divide the total of this amount by 9.
The deposit is paid at inception. The monthly payments start being taken by direct debit the same day the following month, and each month thereafter until completion.