Service from picture is ok when you initially get in touch with them, and the promptness is okay but please think twice before getting a loan with them if you are thinking of moving to a bigger house or in fact changing anything at all about your mortgage. we have had nothing but problems with Picture since we got a secured loan from them. We have a loan for £36,000 and were more or less told that if we didnt get the payment protection (a separate £9,000 loan) we would get loan. We were due to move to a bigger house, but picture said that they wanted all the free proceeds that we got after we had repaid our original mortgage. when I pointed out to them that this wasnt in their literature or the agreement, they said that this was a new rule that they had because of the current economic situation. Even though we were moving to a more expensive house and had never missed or been late with a payment, picture decided to change the rules to suit themselves. As it turned it we couldnt sell our house anyway, so decided to re-mortgage as our fixed rate deal was coming to an end and thought we would pay off our mortgage and get another £5,000 for home improvements. Guess what? Picture want the lot! talk about moving the goalposts! they moved the whole field! when I asked if we could reduce our insurance protection as our loan was being reduced, we were told no, because it was a separate loan! so beware anyone thinking of going with picture, they will change the rules just to suit themselves, and theres not much you can do about it
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This sounds quite dodgy. Particularly the changing of terms and conditions. You might want to seek some advice from your local citizen's advice bureau about this. They may be able to help clear it up.
GJRendall 31.08.2008 13:07
Good review. Their TV adverts put me off ever using them.
Advantages: Fun, easy to lend, makes you feel good, can earn better interest than a bank sometimes. Disadvantages: Can lose your money, your money is tied up - I mean it's tied up for years (or forever)
hard_to_please 10.08.2009 ·
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Ciao members have rated this review on average: very helpful
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