Media Centre

Wizard Home Loans to close due to global financial crisis

17 December 2008

AUCKLAND: "GE Money has announced today its reluctant decision to close its Wizard Home Loan business as a result of the global financial crisis and New Zealand home loan market conditions. This decision has no bearing on the ongoing Wizard review in Australia, which is progressing."

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GE Money New Zealand reduces home loan interest rates by 1.15 per cent

16 December 2008

AUCKLAND: GE Money New Zealand has announced it will reduce home loan variable interest rates by 115 basis points for Wizard loans and mortgages sold through third party mortgage managers, brokers and other introducers following the latest review of its cost of funding and the recent New Zealand Reserve Bank’s official cash rate change.

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GE Money to refund customers on overcharge issue inherited from Pacific Retail Finance

14 November 2008

AUCKLAND: GE Money has today apologised and is refunding 3,610 customers who were incorrectly charged interest on one particular Pacific Retail Finance (PRF) product sold over two years ago.

The issue relates to PRF’s Early Exit Interest Bearing (EEIB) hire purchase product sold between October 2005 and February 2006.

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