Nemo Personal Finance - www.nemo-loans.co.uk
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Nemo Personal Finance - www.nemo-loans.co.uk
User Reviews
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Ok Until You Have To Miss A Payment
Absolutely terrible experience. They seem OK when the paperwork and loan is getting presented.
If for any reason you miss a payment, eg divorce or loss of job and they do not care at all
I was paying massive amounts of interest to try and play catch up. Think it was 4 or 5000 pound to recoup £1000.
Threatened with court and their legal team in losing my house.
Luckily I got legal advice ,another job worked my socks off and paid them off early . I lost 3 stone thru the worry .
Please avoid this company or the new one like the plague, they are total vultures
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Refused Help In A Pandemic - And They Were Happy About It
I have been locked in a battle with Nemo Loans since the pandemic - I initially emailed them to say because of the pandemic my income had been limited. They continued to email - not offering any help whatsoever despite what Rishi Sunak had stated. I restarted paying them in September - they then sent a very nasty letter to me in January 2021 about the amount of arrears that had racked up - I went through their "complaints" process - and was told I wasnt allowed a payment holiday as there were arrears on the accoun - amounting to £15. I finally decided to fight them and did all my research and got back to them having to physically read to them down the phone the FCA Guidelines stating they HAD to offer the payment holiday. I then took this to the Financial Ombudsman and won - they had to backdate the payment holiday, take off all the arrears and all the interest and charges. THEY WERE NOT HAPPY about this- they took their time to do this, the financial ombudsman had to write and phone them a further 4 times to get them to act. Yesterday I got my extra compensation. I phoned them and said I should get a letter of apology for all the stress and upset they put me through. They refused stating:
"The financial ombudsman always take the customers view - we had nothing to do with it" AND
"The fca guidelines stated we should turn people down - we turned hundreds of people down because of the guidelines" - If they have done that they have been absolutely illegal. If any of you have a loan with Nemo, and were affected during the pandemic and they offered no help and you got into arrears which they have chased - get in contact with the financial ombudsman ASAP - I have also linked in the FCA within my complaint - although Nemo said yesterday:
"People threaten us with the FCA all the time, but nothing ever happens to us"
It's time the FCA did something about this bunch of charlatans, I will continue to fight, because it scares me how many people they put through hell during the pandemic.
Loan Shark
I just wanted you to no we have battled with Nemo loan for 10
Years . We took out a loan with them we were given poor advise and was told to go with theses low life’s . They took us to court and tried to take out house away I for 10.000 . Because we were in arrears for 600 pound .we had a payment arrangement from the judge he was very nice . I was pregnant at the time we went court it was so stressful. I had to go and get checked thankfully everything was ok . We battled on to pay theses loan sharks. Just be warned If you are in Arrears at the end of the term of loan they add a charges they don’t tell
You about the charges until
You think the loan was paid off then they say oh you have charges to pay . I went to get advice the charges they said to me were 600 and when I said I went to get advice they put the charges down to 400 . If you do get charges please get advice Because they will Try it on . And say the charges are higher then what they are
You need to go citizens advice
I'm going through same thing there trying to take my house.iI need help
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Helped Me Out
I desperately needed a loan of £40k when my husband left me. The high street lenders wouldn’t help me, thought I was too much of a risk, Nemo did and saved me, although I understood why it was a much higher interest rate. I had just one interest increase since but also a reduction in interest. I have £10k left to pay. I’ve always paid on time and have clear and precise annual statements so on the whole I’ve had good service. Just hated the interest rates. They helped me when no one else would...
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Financial Ombudsman
I went through the Financial Ombudsman and won the case. I had a variable loan with Nemo which only went up! It took a while but with patience you can beat them. If you believe you have a good case write to the Financial Ombudsman.
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I Wouldn't Reccomend To An Enemy Let Alone Friend
These jokers need closing down.
Customer service is awful. Going to make a complaint to the ombudsman about them. Anyone had any positive stories about complaining?
One direction interest rates.
Rude staff
If I hear one particular womans voice on my answer phone again I will scream and I have I do not want to talk to her.
They need to be ashamed of themselves and what I was sold. Somehow they get away with not even following their terms and conditions and making it up as they go!
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Nemo Have Cripplied Us And They Are Bullies
took out a loan for 15k in 2015 over 10 years, after 5 years they offered us another 10k over 15 years, we were young and stupid and regrettably said yes, have paid back to date £41,000 i have another 3 years left and have £14,000 left to pay and when I think of all that money I could weep, esp as in all that time we have been on interest only mortgage :( they are bullies and parasites, the staff are unsympathetic and we live hand to mouth before of this awful company, thank god they have now stopped giving loans and so others will be saved the hassle.
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Nemo ..... They Want My House
I took a loan with Nemo and now, after 10 years of paying a lot more each month than I should've, they treating me with repossession...
Has anyone actually won a case against these parasites and if yes can you please share how?
Hello David dumpling, how did you get on with the ombudsman, when I contacted them they didn't want to know, I was even told by Nemo they have someone they know working there and I didn't stand a chance
Hello David dumpling, how did you get on with the ombudsman, when I contacted them they didn't want to know, I was even told by Nemo they have someone they know working there and I didn't stand a chance
Hello, how did you get on with the ombudsman, when I contacted them they didn't want to know, I was even told by Nemo they have someone they know working there and I didn't stand a chance
I have launched a complaint with the ombudsman and they are treating this one seriously. They have advised that there are many complaints against this company. They are complete parasites. I am hoping for compensation. I am spreading the word about Nemo in the hope that no one else falls pray to them. I am confused how they have been allowed to do business in this country!
I All So Hate This Company I Paid All My Arears O
I all so hate this company I paid all my arears off I have 3 years left with this loan Shark company . Only to be told that there is charges to be paid now and they are 900 pounds they never told me about the charges I had to pay . When I was in arears so if you are in arears with this company and you pay your arears off expect heavy charges I have to pay more on my loan now to clear the charges if I don’t then they will take me to court in three years and take my house they said they have done it befor they will do it again .
I have I only have 2 years left when I paid them off I will go to The papers and watch dog. This company dose need to be closed down . Thank god they don’t lend anymore . The ombudsman didn’t help last time I ask them.
Report them to the ombudsman, I have and they are taking my complaint seriously along with many other complainants. I really want this company to go out of business!
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Nemo Have Wrecked My Life & Cost Me Thousands, *do Not Use*
Took a loan out for 22,000 pounds, paid back in full with interest + extra on top of that BEFORE the end of the loan, and Nemo found I had to pay a extra 16,000 + on top.
I have been fighting them for years, they slowed things down, told out right stories, and asked me to tell stories to others (that I have been offered 75 pounds compassion for as I proved this) I wanted and offered to pay the interest but they would not take it, and I have had to pay the compounded interest that I feel is totally unfair.
I was waiting on the outcome from the Financial Ombudsman Service, and said I would pay what ever they said, but 3 days before the outcome, they went to court to reposes my home (YES 3 DAYS, after years of me having to wait on them) So I said OK I will pay, as I had to, and they added almost 2,000 onto my account for bills to reposes my home, I am still fighting this, and yet to have a breakdown on this, can anyone tell me is that a fair amount, bearing in mind on my account the setting up of the repossession had already been added to my account and the court said all they did was press a button (I found out later was AFTER I wanted to pay, that again they slowed down getting the new end settlement amount )
They have also threatened my Mum on the phone (I can not prove this, asked for copy of phone calls from them, and could not find this one!!!)
Said would not look at a offer, unless my accounts (that was not a problem) but also the accounts of my Mum and Brothers homes/bank accounts/wages was given to them, they are now saying this is not true, DESPITE it being in court papers.
I did ask for help from Nick Clegg, and he was a help for a time, but he is no longer an MP, so might have to look for help from someone else.
NEMO have wrecked my life and cost me thousands, **** DO NOT USE EVER ****
Yes well I gave up, ombudsman in the end cut in half the amount to just 100 pounds (was asking for 1000's, but got 200 from them before I turned down the first offer) and said some amazing things, like not understanding simple interest but still finding for Nemo..... waste of time, they are ruining scared of Nemo, as Nemo just do not pay, I am thinking of gettingr info from the ombudsman just how many times Nemo pays out, and how many times they fine for Nemo compared to other loan company
I am in a similar position and I am fighting back hard. The ombudsman has advised that Nemo have had many complaints and their finance structure is very complex!
The complaint has now been escalated to a specialist team.
Keep the pressure on and good luck.
Q&A
How do I clear my name?
Has anyone got any information on settlements figures from Nemo, I have an outstanding balance and was just wandering what the settlement figure may be before I pay them for this information .
Hi there - there won't be much by way of freely available settlement figures, and if you check the terms of the original loan you may even find that there's a clause that retains 10% of the original loan as an ongoing agreement which Nemo would expect you to repay as a loan (they would recalculate a suitable - for Nemo - installment.
It does all depend on the terms and what the current apr Nemo are using.
I am intrigued that Nemo are looking to charge you for a settlement figure... which I thought you were able to get for free.. (although Nemo would of course factor in their 'admin' costs into any settlement figure anyway).
A more drastic way of getting a settlement figure quickly, might be to withold installments for a period of time - Nemo may send you correspondence with the outstanding balance featuring large.
Within 6 months you may be invited to repay the outstanding balance... Of course you'd have to deal with daily phone calls and 'overbearing' written communications - for which Nemo are likely to charge extra. I'm not advocating such a drastic course of action, as what would happen to Nemo if everybody decided to withhold their payments in some form of protest. In essence it is simplest just to request the settlement figure, and settle... the longer you take the more it will be costing you. Don't forget to have some fun though, by challenging any settlement figure - asking for the detailed calculations that they have invented... to arrive at a figure that may be more than you expect.make the assumption that Nemo will not be offering you a reasonable settlement figure - you could do the sums yourself to see how much your installments should have taken off.
I'm just wondering if anyone can give me some advice. My uncle got a loan through Nemo of £20,000 about 10 years ago, he's been paying £310 per month for the last 10 years, he has now been made bankrupt. Now they have been granted a charging order on his property. Even though he is bankrupt they still want him to pay £180 per month for the next 17 years interest free, and charge remains on the property until the full amount is paid. Can anyone give us any advice on what we can do or where we can go now? total amount paid in 17 years time will be a grand total of approximately £60,000 on just a £20,000 loan.
I dont know what the terms were on the loan ten years ago. They seem to have much more regulated terms now by the FCA. You can always write to the ombudsman if you suspect that tthey are charging you more than they should have. Its outrageous that the loan has not paid off by now.
I would like to know if Nemo is a legitimate company and if they can really help someone like me? I have started the process of applying for a like they say Non Collateral loan of which I paid R7250 to secure the loan and now need to pay R9500 for the transfer of the loan. Is that correct if you can help me with that? Why all this money? Why don't they tell you this upfront so that you can get the funds together? The reason you apply for the loan in the first place is because you don't have money now you must run around looking for money. I would like to know that Nemo is for real and that they can help me with this last process as they said of the transfer of the money.
As a past customer of Nemo Finance, OK they appear legitimate and very nice - offering loans and support to 'hook' the unwary. There are instances of occasions when people in financial difficulties with nemo loans outstanding have been subject to litigation and Nemo have attempted to recover way more than could be reasonably expected.
For example - for a 40K outstanding loan on a proprty worth 200,000 Nemo wanted the property and the 40K as well. There are other similar stories...
Suffice to say there is what could be considered 'sharp practice' and all is well whilst making payments (payments fixed at the onset of the loan did seem to vary on occasion but always upwards, never reflecting bank lending rate reductions.
Are they legal - yes probably, are they honourable... make up your own mind...