GE Money have increased the rates on all I Group and First National products and increased some completion fees.

GE Money state the increase in the cost of funds has lead them to increase their rates and fees as follows;

 

I Group
Up to 80% LTV - rates have increased by 1.10%
Over 80% LTV - rates increased by 1.70%

Completion fees increased to £2,495 on NRM, LTMO, LTM2, GEM1 & 2 and up to £2,995 on GEM 3 – GEM 7 and to £3,695 on LVMO. 

 

First National
Up to 80% LTV - rates have increased by 0.80% & completion fee now £2,995
Over 80% LTV - rates increased by 1.60% & completion stays at £1,695

 

The following apply to both I Group & First National products;

•  New applications - must be packaged on the 3808 rates.

•  Pre-Offer - cases submitted but not yet offered will be subject to the new rates of the 3808 range. Cases must be have a new DIP and this must be submitted by 26th September.

•  Post-Offer - all cases offered on the 2908 range will be honoured but will only be valid until Friday 3rd October - the customer must complete and draw down funds by this date. Any cases requiring re-offering will be subject to t 3808 terms. Any offers that expire will be subject to the criteria prevailing at the time.