Click on the section you have a question about  MORTGAGES FAQs If you can answer yes to the following questions, you are on your way to applying for a GE Money mortgage: - I am a UK resident
- I am 18 years old or over
- I have a regular income above £20,000 per year
- My property value is higher than the loans secured against it
 Back to top We aim to complete your mortgage within 6 weeks. Click here for an overview of how we will deal with your application. Back to top We treat you as an individual and consider everyones circumstances. Back to top We offer competitive rates based on your individual circumstances so if you've got a good record, you'll get our best rates available. Back to top The answer depends on your income and outgoings as well as the amount of equity you have in your current home (if that applies). As a responsible lender, GE Money will not lend more than you can afford. Back to top Your interest rate will depend on your personal circumstances, the amount you want to borrow and the type of product you would like. Please call 0800 009 3603 (Monday - Friday 9am to 5.30pm) and one of our mortgage team will answer your questions.
To view a guide of typical fees associated with one of our mortgage accounts, click here. Back to top There is no separate valuation fee. This fee is included in the mortgage arrangement fee and this fee is added to your loan. Depending on the product, you take with GE Money there may be a separate fee payable to solicitors. Our mortgage advisors will give you full details. Back to top Yes, but fees may apply. If you are an existing customer the details will be outlined in the mortgage offer or call our service team on 0800 316 1625 or click here to enquire online. Back to top You have the option to take Payment Protection Insurance (PPI), which covers your monthly payments if you’re unable to work due to accident, sickness or unemployment.
Click here for a consumer guide that will outline the conditions or our Payment Protection Insurance (PPI).
If you are having difficulties paying an existing GE Money mortgage, please call us on 0800 316 1642 and one of our team will discuss the options with you.
To view a guide, created by the FSA, on “What to do if you can’t pay your mortgage”, click here.
GE Money have created a PDF guide to help you take control of your money, click here to view a copy. Back to top Do I need to have home insurance to get a mortgage? One of our mortgage requirements is that you have insurance to cover your property against unforeseen circumstances. If you don’t already have home insurance, we now have a home insurance product available through Heath Lambert Insurance Services. To learn more, either click here to go to our home insurance section, or call on 0845 001 1014 quoting ref GE08IN. Back to top
YOUR HOME MAY BE AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. An arrangement fee of 3% of the advance (minimum of £1,500 to a maximum of £4,000) will be charged, plus a typical completion fee of £1,995. Any changes to an existing account may be subject to early repayment charges that are part of the terms and conditions of your mortgage.
To view a guide of typical fees associated with one of our mortgage accounts, click here. INSURANCE FAQs How can I get a quote? In order to ensure we are giving you the best possible price for your circumstances – call us on 0845 001 1014 and quote GE08IN. We are here for you Monday - Friday 9am to 8pm (excluding bank holidays) and Saturdays 9am to noon. Back to top How much should I insure my home for? Your home should be insured for the amount it would cost you to rebuild your property in the same shape, size and materials, should anything happen – costs should be considered for extra services such as architect fees and surveyors cost. Your rebuild cost is often very different from the price you would have paid. Back to top What does buildings insurance cover? Building insurance covers things like: - Roof
- Walls
- Windows and doors
- Drains, tanks and pipes
- Garage and any outbuildings
- As well as the permanent fixtures in your home such as fitted cabinets
They’re all covered for loss or damage caused by fire, lightning, explosions, earthquakes, smoke, riots, theft, subsidence, storms and floods. Also, if your home is damaged by something covered by your policy, we'll pay for costs such as accommodation for you and your family while your home is repaired. You’ll find more information in our policy document. Back to top What does contents insurance cover? Generally, moveable furniture and fittings, like: - Sofas
- Curtains
- Beds
- Clothing
- Watches / Jewellery
- Personal money in your house, up to £500
Plus we cover some extras: - Up to £500 cover for any information you have stored on home entertainment systems in the even of loss or damage
- Unlimited cover for your freezer contents
- Increased cover over Christmas, birthdays and weddings
You’ll find more information in our policy document. Back to top Do I have to have both? No – although many people will require both to ensure they are fully covered. However there are exceptions, for example, if you own a flat, check if there’s already buildings cover in place as part of your ground rent. If there is, find out what it covers as you might want to have your own policy as well. You are also likely to need your own contents insurance. Back to top How do I make a claim? Please call us as soon as possible if you need to make a claim. We'll start working on your claim right away and update you if necessary. Back to top How do I renew my policy? We will send you confirmation when it is time for you to renew – simply let us know you wish to continue by returning the form provided, or give us a call. This is also a great time to review any possible changes you may need to make to your policy – have you made any recent large purchases that may need additional cover? Back to top How do I know I’ve got the right level of cover? All too often people find they are under-insured when they need to claim. It is important to regularly review the value of your belongings and make sure your policy covers you for the correct amount. It can be useful to write it down to make sure you don’t under-estimate anything. Call us on 0845 001 1014 to discuss the level of cover you have. Back to top LOANS FAQs GE Money have created a PDF guide to help you take control of your money, click here to view a copy. What is a Secured Loan? A Secured Loan is an additional loan secured on a property and is sometimes called a second Mortgage. A Secured Loan allows you to spread your payments over 5-30 years – subject to your ability to repay. GE Money has teamed up with Norton Finance (UK) Ltd to offer an even wider choice of loans. They will process your application quickly on our behalf and if one of our loans isn’t suitable for your circumstances, they will search their panel of lenders for the best loan for you. This means you have a better chance of getting the money you need. Back to top Why should I take out a Secured Loan and not Remortgage? The benefit of a Secured Loan over Remortgaging depends on your personal circumstances. Some of the reasons that people take out a Secured Loan rather than Remortgaging include: - Funds are usually available quicker
- No need for a solicitor in most cases
- No valuation fees
- New finances are separate from your existing Mortgage
- A change in credit status will not affect your existing Mortgage rate
- You could consolidate your debts into one more manageable repayment*
However, the interest rate of a Secured Loan may be higher than Remortgaging. To talk to us about whether a Secured Loan or Remortgage option is best for you, call us on 0800 009 3603. Back to to] How quickly will I get the money? Completing the whole secured loan process usually takes between three to four weeks. Processing time can be shorter depending on how quickly we receive the required documentation from you. Back to top Cancellations and refunds All of our optional single premium PPI policies may be cancelled at any time. Refunds are available, subject to claims experience and the length of time a policy has been in place. For further information please contact our customer service team on 0800 316 1625. Back to top THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. * Repaying borrowed amount over a longer term could increase the total you repay. Please read important information | | |
