GE Money Loans
- Typical APR: 15.9%
- Min: £5,000
- Max: £100,000
- Term: 5 - 30 Years
- Bad Credit: Yes
Summary
Recently the Purple Loans brand was purchased, and the loan programs formerly known as Purple Loans have been rebranded to GE Money.
Practices
GE Money, formerly Purple Loans, offers homeowner loans, and for a brief time, unsecured loans were offered as well. Currently the company is partnered with ASDA to offer some personal loans.
Services
Secured homeowner loans are offered with loan amounts ranging from £5,000 to £100,000. The funds can be used for almost any purpose. GE Money works with Loans.co.uk to facilitate homeowner loans. Clients will first be screened for a loan, and if applicable, Loans.co.uk will use a loan broker service to find additional offerings. Payment terms can be spread over a 5-30 year window. Payment Protection Insurance is offered as well.
Clients and Customers
The GE Money Secured Loans are homeowner loans, so only UK residents over the age of twenty who own their own home can apply. The company does not believe in excluding those who have financial difficulty in the past, so they encourage those with previous financial difficulties, arrears or CCJs to apply for a loan.
Associations and Credentials
GE Money Secured Loans is licensed for consumer lending (489297). The company is also a subsidiary member of the FLA and is associated with AMI.
Interest Rates
The typical interest rate on a secured homeowner loan through GE Money is 13.3% variable at the time of publication. Your interest rate will be determined by your personal credit and financial situation.
