GE MONEY anyone have any dealings with them atm?

arwenamen

Hi
I was wondering if anyone has any info on GE MONEY at the minute? A while ago i read on here that they were no longer doing mortgages/remortgages, and ours is currently with them but fixed rate ending within a month.

Someone mentioned that they may consider a lowered settlement figure to get mortgage customers to leave and I wondered if anyone knew if they have been doing this or not?

Thanks in advance

Ruth

VIGILANT22

http://www.gemoney.co.uk/en/

Could you be getting confused with GMAC?

happybroker

GE Money Home Lending have been waiving early repayment charges of late for customers that ask.

You will be going onto a tracker when you finish your fixed rate (all of their products go to tracker). Some of these trackers are really low, as little as 0.75% over base but this depends on the plan you were on in the first place which was detrmined by the level of adverse credit you had and your loan to value.

The broking arm of this firm, GE Money Lending Solutions, closed it's doors a couple of years ago. The lending arm is venturing back into the market now and again.

Best course of action is to dig out all your paperwork, get a copy of your credit profile and seek advice from a good whole of market broker who will be able to rcommend the best course of action to take.

happybroker

VIGILANT22 wrote: »

http://www.gemoney.co.uk/en/

Could you be getting confused with GMAC?

GE Money have owned Igroup and First Natonal for quite some years now, they rebranded as GE Money Home Lending (keeping the old brands for intermediaries) in November 2004.

GE Money also owned a large credit card business in the UK that has recently been sold to Santander.