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Intouch takes aim at GE Money

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Australian Broker | 01 Mar 2011, 05:00 AM Agree 0
Intouch Home Loans CEO Paul Ryan has lashed out at GE Money's mortgage business, calling recent moves by the business "putting the sword to customers"
  • Xavier Quenon | 01 Mar 2011, 04:05 PM Agree 0
    It is pretty clear all GE cares about is getting their last loans discharged so they can move on.
    This is just another of their many tactics to try and drive people away. We have seen interest rates climb in line with the market but not fall with the market movements, we have seen issue with partial discharges where GE does not play fair, we have seen part sale of the book to Adelaide Bank.. and now we are seeing enforcement of clauses 'that have always formed part of the loan docs' just to make the life of the remaining borrowers hard and push them to 'get out'
    Shame on you GE
  • loanman | 01 Mar 2011, 04:07 PM Agree 0
    Why do people insist on "the government" creating more and more regulation and assuming more control over their lives? We do live in a Democracy you know! There are more effective answers.
  • Spinner | 02 Mar 2011, 10:52 PM Agree 0
    Could still have 100,000 customers and 200 branches. $22m was a gift!
  • Louise | 27 Jun 2011, 01:42 PM Agree 0
    This is crap - I had my redraw frozen whilst I was negotiating a hardship claim. They took so long to speak to me that they eventually rang me and agreed to the payment plan I was already doing (by my own accord) to try and reduce the arrears. They cahrge over $300 a month for late payments (even if you are on hardship) and together with an interest rate of over 12% this is crippling. I took out my loan at 8% witht he promise of it reducing each year. It reduce .25% once (even with the interest rate reductions of 2008) and just continually rose. I have gone from repayments of $1200/month to $1780/month in 3 years and find it impossible to remortgage. I will once again have my loan up to date at the end of this month and wonder if I will ever get to a point where I can afford to live and actually refinance.
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