It is a shame GE finance don't offer home loans anymore. This is my second home I have bought with home loan through GE & I am extremely happy with my loan & its features. Being single & on a disability pension, it's nice to know they have my best interests at heart
We were originally on a very low interest loan with Wizard home loans, but they were sold to GE finance who placed us with Pepper. We now are stuck with a very high interest rate and cannot renegotiate due to our family financial circumstances.
Since migrating from Wizard to GE Money with our mortgage the inflexibility of this company is painfully obvious. No allowance for Loyalty at all BUT we still cannot re-finance after 3-4 years of trying. The Federal Government should truly review which companies set up to rip off Australians within the finance sector.
We were sold a home loan based on the pregnancy pause being a feature of this product, now they have brought wizard out they refuse to acknowledge this feature, have classed it as a hardship and we have been struggling ever since!!!
I liked my home loan with GE Money simply because they allowed me to get a mortgage with them. (Ex-husband was a gambler who when we parted had left me with the poor credit rating. However - I don't like that their rates are higher, they rarely communicate with you, and I feel trapped within this loan)
GE Money never passed on any of the rate cuts to its home loan customers. As a result we were paying 3% more than everybody else. And they wanted to charge us exit fees! Not recommended.
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WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
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