Solar Home Energy arranged finance for customer at 20.94% apr through GE Money home lending.
Consumer Reclaim pursued a claim against GE Money home lending. On the basis that the system was mis-sold to the customer as a result of grossly exaggerated energy savings. Promotional material by Solar Home Energy stated that the system could provide savings over a 25 year period of £45,856.00. Which would provide a payback on the cost of the system within 8 – 12 years. Expert evidence supplied by Consumer Reclaim confirmed that solar system could only provide, at very best, savings over a 25 year period of around £3,000. Plus the system could never provide a payback within its lifespan.
The Claim
GE Money home lending refused to uphold the claim made against them under section 75 of the Consumer Credit Act 1974. Which resulted in Consumer Reclaim’s panel lawyers issuing legal proceedings against them in the county court. A successful outcome resulted in the customer receiving a full refund. This was of all money paid to GE Money home lending to the sum of £7,397.86.