Nemo Personal Finance Review

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2.9 stars
Average rating for this product is: 2.9 out of 5

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dwdavidwalker's Review of Nemo Personal Finance

26th Feb 2007

Overall Rating

1.5 stars
  • Value for money
    0.5 stars
  • Content
    1 stars
Good Points

None


Bad Points

All the fees they charge


General Comments

They have many hidden fees, here check them out...

At Nemo we like to keep our customers informed. The details of the standard fees we charge are listed below:

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

Our consent to let your property £125

Our 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

I have had a loan with Nemo Personal Finance since the 30th of November 2006, and the rate has gone up already by 1%.

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