Unhappy with British Gas

Desperado99

fluffnutter wrote: »

Mine's not the most useful advice at this point but it may help someone who's thinking of replacing their boiler... boilers are expensive purchases. You're absolutely mad to buy without getting quotes first. British Gas are notorious for overcharging. I bet a local plumber could have installed a similar boiler for half the price that BG charged, perhaps even meaning that no loan was required.

I agree wholeheartedly. We have just replaced our boiler and had a quote from BG for £2500 which was supposedly at a discount. We got a local firm in for £1800 instead (much better boiler too).

And as for the loan! cor blimey! it's a mistake you won't make again! The last loan we took out was for a car.... we were offered HP but arranged it through our bank instead for cheaper and we could make overpayment/pay it off early with no penalties. I would never have finance arranged through the seller without looking elsewhere first.

Pheobesmove

I have just found out my gran took out one of these British gas/ ge money loan when she had her boiler replaced in 2007.
She's about to move house so we were looking into how much this was to clear. The paperwork states original loan was £3254 . Apr is something like 18.94% . Total credit over 10 years is £3900 something. I worked out the total amount she would pay them if she let the loan run was just short £7200 plus she had to pay £75 initially to set up the loan!
Her payments are £61.54 a month and the interest each month is in the region of £40.
Couldn't see any mention of PPI .
We rang up today and got a resettlement figure of £2200. So in just under 6 years, she's only paid £1000 off the original loan.
My gran says the British gas recommended this as a great deal to her! Thankfully it's the only debt she has.

battleborn

Pheobesmove wrote: »

I have just found out my gran took out one of these British gas/ ge money loan when she had her boiler replaced in 2007.
She's about to move house so we were looking into how much this was to clear. The paperwork states original loan was £3254 . Apr is something like 18.94% . Total credit over 10 years is £3900 something. I worked out the total amount she would pay them if she let the loan run was just short £7200 plus she had to pay £75 initially to set up the loan!
Her payments are £61.54 a month and the interest each month is in the region of £40.
Couldn't see any mention of PPI .
We rang up today and got a resettlement figure of £2200. So in just under 6 years, she's only paid £1000 off the original loan.
My gran says the British gas recommended this as a great deal to her! Thankfully it's the only debt she has.

Maybe these kind of deals will be the next big scandal to claim back on.

I hate it when the elderly get duped into these schemes.

roonaldo

battleborn wrote: »

Maybe these kind of deals will be the next big scandal to claim back on.

I hate it when the elderly get duped into these schemes.

its not a scheme or a scandal, its a front loaded interest loan, a few of the banks were doing them but they stopped a few years ago.