GEMHL to scrap igroup brand
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GE Money Home Lending is scrapping its igroup brand on February 4 and all existing products will fall under the GE Money brand.
The lender is also making a number of changes to its product range and increasing the maximum LTV for first-time buyers to 80% LTV from 75%.
But the maximum loan size is being decreased from £500,000 to £300,000.
It is increasing rates across its FTB0, LVM0 and LTM1 products by between 0.04% and 0.49%, and decreasing some rates on the LTM2 and GEM1 to GEM3 products by 0.18%.
A spokesman for GEMHL says: “We have been using the GE Money brand for some time in our communications with brokers and feel it will work better to have all products under the one brand.”
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Readers' comments (1)
David | 27 Jan 2011 12:46 pm
Hooray for a lender making some real sense of the market - FSA look this is what is called common sense, marginally increase LTV but reduce expsoure for any deal, good business well done GE
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