Nemo. They are a new name in homeowner finance launched by The Principality Building Society, the largest Welsh Building Society. Nemo combines long established values and financial strength with a refreshingly modern approach to homeowner loans.
Their approach is simple - if you're a homeowner with a mortgage you can borrow any amount from £10,000 to £100,000 and pay it back over a time to suit you.
Their aim is to unravel the complications of personal finance and find a solution that fits you and your lifestyle. Nemo won't discriminate if you're self-employed. You may want to consolidate existing loans, or need some extra cash for home improvements. Nemo will listen and try their best to help.
These are just some of the ways Nemo can help you with a choice of loan amounts and repayment terms with rates from 6.7% APR variable to 13.4% APR variable. Their typical rate is 8.4% APR variable.
One thing to remember though - Nemo is a responsible lender and will only make loans available to people who can afford them.
 To apply for a Nemo loan, click here
What you can expect from Nemo Loans
What you can expect - Five easy steps:
- Apply online by filling out your details on the application form, and one of the Nemo team will call you back at a time to suit you.
- Their team will talk you through the process explaining how they can help, and then aim to find you a loan that suits your circumstances and lifestyle.
- Nemo won't over complicate things - They'll aim to keep the loan application process as simple, straight forward and quick as possible.
- Nemo will keep you informed throughout the loan process, offering expert advice where needed.
- Nemo won't forget about you if you're a Nemo loan customer after your loan is paid out. You can expect continuing customer service, throughout the term of your loan from the Nemo team.
To apply for a Nemo loan, click here
Payment Protection Plan
Making sure you're covered
Let's be honest, nobody likes to think about the 'what ifs', but sometimes you need to have a back up plan. What would you do if you lost your income without warning, or through illness or an accident? You don't want to worry about how you're going to keep paying back your secured loan. That's why Nemo have linked up with Norwich Union to offer a Payment Protection Plan, which takes away the 'what ifs'.
Nemo's Payment Protection Plan is designed to meet the loan repayments of the first named person on the agreement if they are unable to work as a result of an accident, sickness or unemployment. It will also repay the loan if the first named person on the agreement dies. In addition you can choose to add life cover for the second named person on the agreement which would ensure the loan would be repaid in the event of their death.
Nemo will give you Cash Back on your premium if you don't need to claim.
With the added reassurance of the Nemo Payment Protection Plan*, you'll be covered for the next five years. In addition to this, Nemo will give you back 50% of the premiums after five years if you haven't made a successful claim or been in arrears or settled the loan.
It's not just the loan Nemo aims to keep nice and simple, adding Payment Protection to your loan is straightforward and can be done in the application process. The cost of the insurance premium will be added to your loan.
The Nemo Payment Protection Plan* is underwritten by Norwich Union Insurance Limited so you can be confident in the knowledge that you are insured with a well-known and trusted insurer.
The Cash Back Bonus is net of Insurance Premium Tax. For full details please read the terms and conditions.
To apply for a Nemo loan, click here
Why complicate things with lots of jargon?
Nemo believes in simple and straightforward communication. That's why they have listed some questions and answers which may help you when you're considering a Nemo loan.
What can Nemo offer me?
Nemo loans are only for Homeowners. That's because Nemo offers secured loans. A secured loan is a loan that uses your home as security against the loan. So, if you're unable to keep up with your secured loan payment, then your home is at risk of being repossessed.
Can I move my Nemo loan when I move house?
If you’re thinking of moving home, speak to the Nemo team first on 0800 019 8448 and they will advise you whether they can transfer your Nemo loan to your new home.
How much time will it take to process my loan?
It can vary from loan to loan, but at Nemo you will always be kept informed throughout the process. A Nemo loan will take up to ten working days from receipt of all relevant documentation from you. Nemo will aim to ensure the process is as quick and straightforward as possible.
What must I do if I need to borrow more money?
The Nemo team will always be on hand to talk you through your options.
What happens if my circumstances change and I want to repay my loan early?
There will be a fee when you pay off your loan early, which will vary according to the details of the loan.
What happens if I lapse in my repayments?
Give the Nemo team a call, and they can talk you through how they can help. They will do everything they can to assist you.
To apply for a Nemo loan, click here
Fees and charges
Administration Fees
Telegraphic Transfer £30
Change to Direct Debit Payment Due Date £25
Statement of Account – 12 month transaction history.
Chargeable for 3rd party requests only. £25
Settlement Quotations – Payable on 2nd and subsequent requests. £25
Changing the term of your loan £125
Nemo's consent to let your property £125
Nemo's consent to a 3rd charge against your property £125
Mortgage Reference £100
Deed of Postponement – This fee maintains your Nemo Loan as the second charge on your property should anything change regarding the first charge. For example if you change your mortgage provider. £125
Transfer Fee – Payable if you move house and transfer your loan to your new property. £125
Adding or removing a person from your loan agreement £125
Security Release Fee* – Payable if you wish to settle your loan early, this is in addition to the amount required to settle your loan. £175
Capital Repayment Charge* – Payable if you wish to make a lump sum capital repayment on your loan. £100
Defaults
Unpaid Direct Debit £30
Returned Cheque £30
Arrears
Arrears Letter £25
Default Notice £50
Arrears Visit £90
7 Day Letter – This fee is charged prior to issuing a default notice or Solicitor’s instructions, and follows at least one arrears letter. £25
Solicitor’s Instructions £100
*Not applicable to loans regulated under the Comsumer Credit Act 1974
How to Pay
All charges can be paid for by Switch, Delta, Solo, Electron & Maestro. If not paid they will be added to your Account and please be aware that they will accrue interest. The charges are payable under the terms of your Nemo Personal Finance Loan Agreement as at 31/03/2006 and are subject to change without notice to reflect changes to Nemo in the cost of these services. There may also be a charge for uncommon services.
To apply for a Nemo loan, click here
A NEMO LOAN IS SECURED ON YOUR HOME. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
|
)