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GE Money / Ocean Finance
Camaro3
Posts: 96 Forumite
I took out a secured loan in 2004 from GE Money but brokered by Ocean Finance. I'm about to send for a SAR from GE Money with regard to charges & PPI.
I'm hoping Magpiecottage will read this as I have a couple of questions for you.
(1). GE Money (formerly iGroup) will no doubt say talk to the broker. The problem is Ocean Finance was wound up in 2005 to be replaced by Ocean Finance & Mortgages (with the same directors). How do I stand with this?
(2). I keep getting letters from Ocean Finance & Mortgages because I am a "valued customer" of theirs. So by sending these letters are they admitting they are the former company?
(3). On my original application, it states that no commission was paid to the broker, if that is the case why would Ocean Finance broker the loan?
I'm hoping Magpiecottage will read this as I have a couple of questions for you.
(1). GE Money (formerly iGroup) will no doubt say talk to the broker. The problem is Ocean Finance was wound up in 2005 to be replaced by Ocean Finance & Mortgages (with the same directors). How do I stand with this?
(2). I keep getting letters from Ocean Finance & Mortgages because I am a "valued customer" of theirs. So by sending these letters are they admitting they are the former company?
(3). On my original application, it states that no commission was paid to the broker, if that is the case why would Ocean Finance broker the loan?
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Comments
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Any advice please people?0
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Hi Camaro3,
In same situation, will follow your post and update if I receive or find anything different.
Eddy1660 -
it depends on what you want, if you want a sar and details of transactions and everything else on your account then contact GE. If you want to complain about the sale then its OCean Finance who are still trading.I took out a secured loan in 2004 from GE Money but brokered by Ocean Finance. I'm about to send for a SAR from GE Money with regard to charges & PPI.
(1). GE Money (formerly iGroup) will no doubt say talk to the broker. The problem is Ocean Finance was wound up in 2005 to be replaced by Ocean Finance & Mortgages (with the same directors). How do I stand with this?
they are one and the same, its just a different trading stlye(2). I keep getting letters from Ocean Finance & Mortgages because I am a "valued customer" of theirs. So by sending these letters are they admitting they are the former company?
to be honest, commission is nothing to do with you. they probably charged you a arrangement fee though if they took no commission. brokers like ocean finance probably charged you anything from £500 to £2000 depending on the loan size.(3). On my original application, it states that no commission was paid to the broker, if that is the case why would Ocean Finance broker the loan?0 -
Sorry - not read this before but what evidence do you have that you ever took out PPI?0
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