GEMHL increases rates on secured range

GE Money Home Lending has dramatically increased its rates across its secured loan products.

First National rates have increased between 1.6% to 3.4% dependent on the plan, with commissions reduced on status 0, 1 and 2 by 0.5%, the completion fee and criteria remain unchanged.

igroup rates have increased between 1.6% and 2.85% dependent on plan, with commissions increased on Xps 0 by 0.25% and reduced on XPS 3 by 0.5%.

With immediate effect all new cases must be submitted on the new rates, GEMHL will honour current pricing on any deals received to its offices by close of business today that are awaiting execution, provided these deals are paid out by close of business on September 23.

Any deals received from September 19 will need to be on the new rates. Any deals currently in the post and that are not received today will be returned.

Any deals not yet submitted will need to be re-offered on the new rates.