SGE Loans

NatSkwigelf

Hi
I am a newbie, and i am in need of someone to answer something for me
my partner recently applied for a loan with SGE loans, and we are unsure if they are genuine or not. we received a free hot water Cylinder jacket today like they promise, as they also work apart of the gas and electricity company, as well as give loans. their website looks very legit and they asked to pay 29.99 as a fee, and said we will be paying back £130 on a monthly basis on a date set
i am unsure whether we should trust us, and wanted to know if anyone else had dealed with these people before

any help would be grateful

Thank you

dresdendave

Welcome to the forum, not a company I have heard of so can't advise specifically. As a general rule always be suspicious of anyone asking for a fee up-front.

Better advice is to check a company's elegibility before dealing with them rather than afterwards.

Hope it works out.

CLAPTON

they don't give loans; they are brokers
anyone that asks for money is a scam
forget it

NatSkwigelf

good job we haven't given them any money then!
thank you very much for the advise guys

[Deleted User]

hope you havent given them card details either?

Apples2

T&C's say the fee is £79.99
http://sgeloans.com/documents/Terms.pdf

Not sure why you say the site looks "very legit". It looks no different from the other thousand or so scamming broker sites e.g http://www.yesloansuk.com/

KingElvis

Sacm pure and simple, never heard of these crooks giving away hot water tank jackets though :rotfl:

SnowTiger

KingElvis wrote: »

Sacm pure and simple, never heard of these crooks giving away hot water tank jackets though :rotfl:

Nah, they must be legit. According to the footer on their website they operate in "Primary Authority Partnership With West Yorkshire Trading Standards Service," whatever that means.

Their website seems confused. http://sgeloans.com/HowItWorks.aspx begins by promoting their loan (brokerage?) service, then goes on about changing energy supplier.

And then at the bottom of the page there's a logo for "Switch From Gas & Electric." I'm wondering what punters are expected to switch to. Oil? Perhaps not the best way to power your TV or computer.

KingElvis

Backroom operation, amateur and foolish.

efcdaft

I have just reported this company for taking £79.99 out of my bank account illegally. The Managing Director of this company is a woman called Sally Hill formerly of YES loans. This company is regulated under its consumer credit licence by the FSA. They took this money from me even though I cancelled when the fee was mentioned. They then go on to quote policy and procedure of the company. They are based in Burnley Road Leeds and I would advise anyone who is thinking of using these to forget it. They say they are a world class company in the letter they sent me which is total nonsense they are a bunch of idiots intent on ripping off vulnerable people.

Apples2

efcdaft wrote: »

They then go on to quote policy and procedure of the company..

So did you follow any of those procedures?

For it to be Illegal it would have to be an action outside of the published terms and conditions, I'll save you the grief of clicking the link I posted earlier..

YOUR OBLIGATIONS
4.1 By submitting the online form and/or speaking to Us on the telephone, You warrant
that:
4.1.1 all information You are providing is true, complete and accurate to the
best of Your knowledge;
4.1.2 you are at least 18 years old;
4.1.3 You are legally capable of entering into binding contracts;
4.1.4 You are contracting in your capacity as a consumer and not in the course
of business; and
4.1.5 if paying by credit or debit card, You are either the owner of such card or
have the owner’s permission to use such card.

3 PAYMENT
3.1 A broker fee of £79.99 is charged for the provision of Our Service specified herein.

So there it is, it isn't illegal at all. You just fell for some salesman waffle without thinking first.

6 TERMINATION
6.1 We have the right to terminate or suspend Your use of the Services if:
6.1.1 We have reason to believe that You have provided false information to
Us pursuant to Clause 4.1; or
6.1.2 We suspect on reasonable grounds that You may have committed or be
committing fraud against Us or any Lender;
6.2 Under the Financial Services (Distance Marketing) Regulations 2004 you have a right
to cancel your application within 14 days in relation to the provision of Our Services
commencing on the day which You receive these terms and conditions; and receive a
refund. To cancel Your application You must inform Us in writing to SGE Loans,
Switch House, Burley Road, Leeds, LS4 2PX or to Our email address at
customerservices@sgeloans.com, or by fax to 0871 711 4908. In this event we
will refund your fee within 30 days of the date on which we receive your written
request to cancel your application.
6.3 Under the Financial Services Distance Marketing Regulations you have 14 days to
cancel your contract with us. If you agree for us to provide our service to you
immediately and that you agree that we can process your application from the date of
order you should be aware that if we process your application on the order date, and
you then exercise your right to cancel, we reserve the right to make a charge for the
service we have provided up to your cancellation, This will vary dependent on the
amount of work we have done for you.
6.4 We have no responsibility or liability in relation to the termination or cancellation of
any contract between You and a Lender, either by You or by the Lender.
6.5 If you are not offered a loan by a lender within the 6 months We act for You, We will
refund the fee less the ƒ5 brokerage fee provided for by the Consumer Credit Act
1974. Refunds must be requested in writing to SGE Loans, Switch House, Burley
Road, Leeds, LS4 2PX or to Our email address at
customerservices@sgeloans.com, or by fax to 0871 711 4908.