Nemo Loans

Olivers_Army

Anyone know anything about them or used them?

We're looking at rolliing up a current loan with Barclays and some credit card debt and paying it all off. We've approached Barclays but they aren't doing any new lending! They passed us on to Central Trust - and they've recommended Nemo. According to them, they're a good "prime" lender with a good track record. I've never heard of them!

cot1198

I have just posted on the section on what they did to us.
they have lots of nice glossy leaflets and folders and so on but just be on your guard at all times
I know what it's like though, we were in a position where we where looking for a loan and nemo where willing to give us one. I did'nt know what I know now as I did'nt use this site then. We where not given the correct information at the start of the loan and it cost us thousands of pounds that we are now trying to get back

di3004

Olivers_Army wrote: »

Anyone know anything about them or used them?

We're looking at rolliing up a current loan with Barclays and some credit card debt and paying it all off. We've approached Barclays but they aren't doing any new lending! They passed us on to Central Trust - and they've recommended Nemo. According to them, they're a good "prime" lender with a good track record. I've never heard of them!

Hi there
Yes I have had 2 loans with Nemo, the first one was arranged by eloan the brokers who recommended Nemo, then we had a loan advance.

My personal opinion:
Good rates
Friendly enough
Always send leaflets for loan advance, suppose they all do this though.
Pushy with the insurance !

And.................
We were mis sold a payment protection insurance by these, when we learnt of this in the media - it was the time of the loan advance, we tried to get an advanced loan without the ppi but they were not having it.
We said we could get a stand alone cheaper cover to cover this and they stated that we really had to keep it going because we had ppi with the first loan or borrow more and that if we did leave to go elsewhere we would have to settle on the same amount of still having ppi.

So just be careful, they will make the ppi sound good by saying if you have not made a claim in the first 5 yrs you will receive a good percentage back for this, we were sucked in here but was never explained the extra costs & interest on this, nor that it would only cover the 5 years of a 25 yr loan.

We have won this complaint in the end with the financial ombudsman, but yes its important to be protected, but shop around for a cover which is a lot cheaper with all the benefits that you would be eligible for.;)

If you post this in the loan/ppi reclaim/discussion thread or maybe check on there - there are more comments about these.
Good luck!
Di.
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