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Making home improvements are a great way to invest in what is likely to be your most valuable asset, your home. But at the outset, financing your new wood floor may not seem so affordable, or perhaps your only option is to dip into those savings you’ve worked so hard to accumulate.
Working closely with GE Money and Red Kite Money we now offer finance for your new wood floor. The GE Money Home Improvement Account has been specifically designed to provide you with the ideal way to purchase your new wood floor, as it enables you to spread the cost of your purchase to provide a repayment plan that suits your budget and keeps your savings intact. You can choose to keep your repayments as low as possible, spreading them over our maximum 10 year period, or perhaps you can afford a little more and opt for a shorter term. You can also dictate how much deposit you want to put down, anything from 0-25% of the overall loan.
Our first step is to consider your individual needs, so that a plan can be devised specifically for you.
The great news is that you are in control. If there are times when you can spare a little more money, on top of your standard monthly direct debit you can make additional repayments. By doing this, you’ll actually control the amount of overall interest you pay and also the length of your loan period. As the length of the load period reduces with additional payments, so does the amount of interest you would otherwise have had to pay. Below is an example of how you can significantly reduce the payment term of your loan by paying a little extra each month.
Based of a loan of £2,500.00, with a monthly interest rate of 1.7%.
Standard monthly payments will be £51.75.
|
Loan Term (Months) |
Extra Monthly Payments |
Total Monthly Payment |
|
120 |
£0.00 |
£51.75 |
|
96 |
£4.22 |
£55.97 |
|
84 |
£7.49 |
£59.24 |
|
60 |
£18.70 |
£70.45 |
|
48 |
£29.03 |
£80.78 |
|
36 |
£46.71 |
£98.46 |
Peace of Mind with consumer credit protection
On top of the guarantee we offer, both GE Money and Red Kite Money provide an extra legal protection, which gives you extra assurance that your money is safe. From the moment you receive your acceptance letter, your deposit will be protected.
Who are GE Money?
GE Money are part of General Electric Company and were voted ‘The Most Respected Company in the World 2005’ (Financial Times and PwC Company rankings) for a record seventh time. Businesses using the GE Money brand offer finance solutions to over 110million customers in 42 countries around the world. GE Money only works with installers who have been approved by their thorough checking procedures so they feel 100% confident in backing our guarantee with their own. |