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IGroup secured loan range axed

GE Money Home Lending is scrapping its secured loan iGroup range, but will continue to offer secured loans through its First National brand.

A spokesman for GEMHL says the First National product range is better suited to the type of lending it wants to do.

He says: “We are still in the seconds market and will continue to offer secured loans through our First National brand. It does not affect our first-charge mortgage business and the move reflects the type of borrower we want to lend to.

“In the current climate it makes sense for us to just offer secured loans through the one brand.”

GEMHL has also had a rejig a number of its products.

Mark Harrison, sales director at GE Money Home Lending recently left the lender by mutual consent.

Harrison was at GEMHL for around 12 months and was responsible for its credit broker channel.

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