- What is a Secured Loan?
- Who can I contact if I would like advice about debt problems?
- What if I need to borrow more money from GE Money in the future?
- Why should I take out a Secured Loan and not Remortgage?
- How quickly will I get the money?
- How can I protect my repayments if I become ill or unemployed?
- I have seen advertisements by companies offering to obtain ‘cash back’ for my PPI policy. Can I request ‘cash back’ by myself?
- Cancellations and refunds
| GE Money have created a PDF guide to help you take control of your money, click here to view a copy. What is a Secured Loan?A Secured Loan is an additional loan secured on a property and is sometimes called a second Mortgage. A Secured Loan allows you to spread your payments over 5-30 years – subject to your ability to repay. GE Money has teamed up with Norton Finance (UK) Ltd to offer an even wider choice of loans. They will process your application quickly on our behalf and if one of our loans isn’t suitable for your circumstances, they will search their panel of lenders for the best loan for you. This means you have a better chance of getting the money you need. Who can I contact if I would like advice about debt problems?Free advice is available from your local Citizens Advice Bureau. Citizens Advice Bureau (Practical information with a trained counsellor on a range of topics including; housing, benefits, debt and legal issues): National Debt Line (Confidential advice on debt management plans) www.nationaldebtline.co.uk Tel: 0808 808 4000 Consumer Credit Counselling Service [CCCS] Confidential advice on how to deal with debt including payment offer plans) www.cccs.co.uk Tel: 0800 138 1111 Credit Action (Free information and self help guides)www.creditaction.com Why should I take out a Secured Loan and not Remortgage?The benefit of a Secured Loan over Remortgaging depends on your personal circumstances. Some of the reasons that people take out a Secured Loan rather than Remortgaging include:
However, the interest rate of a Secured Loan may be higher than Remortgaging. To talk to us about whether a Secured Loan or Remortgage option is best for you, call us on 0870 000 7777. How quickly will I get the money?Completing the whole secured loan process usually takes between three to four weeks. Processing time can be shorter depending on how quickly we receive the required documentation from you. How can I protect my repayments if I become ill or unemployed?Financial protection insurance products can provide cover for your monthly repayments. Click here for a consumer guide to Payment Protection Insurance. I have seen advertisements by companies offering to obtain ‘cash back’ for my PPI policy. Can I request ‘cash back’ by myself?Yes, you can contact the provider direct to find out if a refund is available. If you use another company to act on your behalf, please ensure that you find out exactly how much they will charge you and check whether any money due back to yourself would be payable to them instead. Cancellations and refundsAll of our optional single premium PPI policies may be cancelled at any time. Refunds are available, subject to claims experience and the length of time a policy has been in place. For further information please contact our customer service team on 0870 850 0850. How do I protect my personal information?GE Money have created a PDF guide to protecting your personal information.Click here to view a copy. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. * Repaying borrowed amount over a longer term could increase the total you repay. Please read important information | |