IGroup Remortgage

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IGroup no longer offers remortgage packages to new customers.

IGroup Review

IGroup was a trading branch of GE Money Home Lending Ltd. The latter is a division of the General Electric Company USA, which in 2005 was voted ‘World’s Most Respected Company’ by the Financial Times.

iGroup was a major lender in the British mortgage market for over 25 years. The brand offered financial solutions to 118 million customers in 47 countries worldwide.

An IGroup remortgage offered benefits such as:

• Save money on monthly repayments with a lower interest rate
• Take some of your mortgage as tracker and some as fixed-rate, risking just part of your borrowings
• Release equity for purchases such as home improvements or a new car

What is a remortgage?

A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:

• Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
• Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.

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