FirstPlus interest rates - again

sue149

golf18 wrote: »

I have contacted my MP and pointed him to this web site :T he is a high up labour MP I mentioned that the government should ask why no reduction in rates when banks are being underwritten by government

so see if I get a reply!:money:

I ALSO DID THIS AND GOT A REPLY FROM THE HOUSE OF COMMONS MY MP IS GOING TOO LOOK IN TO THIS I URGE ALL FIRSTPLUS COUSTOMERS TOO DO THIS

golf18

I have received a reply today and he has written to both the minister and CEO of Barclays.

Maybe there is a chance of publicity!!:T :T :T

juliedawn_2

Rather than start a new thread ....this is to do with first plus but not the rates....does anyone know if you can make lump sum payments to your loan without being penalised?...i know my mum can pay 10 % of the balance per year on her loan but don't know if worst plus do the same?

Incipience

You have to pay a £60 fee for administration costs.

brybry_3

I also have a variable loan with the above, who ive just phoned to complain about there interest rate and how they are worked out, they told me same rubbish as every one else, not tied to boe rate.
they registered my complaint over the phone and said they will respond by letter, is this the norm.
or am i being fob off.
also sending letter ref claiming ppi back, as we were told we get 5000 pounds back after 5 years, but did not inform us the ppi only lasted 5 years not the full length of the loan,

any advice would be useful.


many thanks bry

ne14nt

Do a search engine for 'complaints Firstplus' and you will find a website dedicated to the unfair t&c and interest rate mechanism or lack of used by Firstplus together with other complaints against FP. There are petitions to sign also....check it out.

BTW...you are being fobbed off by Barclays FP

Regards

amersall

sickoffirstplus wrote: »

July 05 -agreement signed 8.59% apr
misplaced any changes advised between start and Dec 06
Dec 06 - 9.4% apr
Feb 07 - 9.7% apr
April 07 - 10.2% apr
July 07 - 10.5% apr
Jan 08 - 10.8% apr
Mar 08 - 9.7% apr
May 08 - 10.2% apr
Aug 08 - 10.5% apr

my rate increases were the same as yours, i had a letter in march 08 WITH A DECREASE!! i saved 68.50 a month,in may 2008 i had to contribute 600 to mums funeral and i fell short of the monthly payment by 250 i lost one of my part time jobs and this underpayment carried over to july i recieved a letter from fp to say as i was in arrears they were taking back this decrease and my apr went back to10.8%

amersall

brybry wrote: »

I also have a variable loan with the above, who ive just phoned to complain about there interest rate and how they are worked out, they told me same rubbish as every one else, not tied to boe rate.
they registered my complaint over the phone and said they will respond by letter, is this the norm.
or am i being fob off.
also sending letter ref claiming ppi back, as we were told we get 5000 pounds back after 5 years, but did not inform us the ppi only lasted 5 years not the full length of the loan,

any advice would be useful.


many thanks bry

i was refunded 13,500 on cancellation of my ppi with fp. the ppi was nearly 27,000 the remaining 13,500 is still on my fp loan and i pay 115 a month just for the ppi (that i no longer have) i only saved 78 a month but when the loan ends in 250 months they will have had the original ppi back (the figures above are not the exact amounts though near enough as i have complaints in with fp and do not want them if they look at this site to know that it is me) i am getting paranoid about fp now! the ppi even when paid out after 5 years if your loan goes on longer you will still be making a payment for ppi if it was added to your loan as a single premium so beware

amersall

sue149 wrote: »

I ALSO DID THIS AND GOT A REPLY FROM THE HOUSE OF COMMONS MY MP IS GOING TOO LOOK IN TO THIS I URGE ALL FIRSTPLUS COUSTOMERS TOO DO THIS

i have. and to watch dog, .gordon brown the fsa and fos something will have to give with this company eventually and i for one will be there to the bitter end

karlf_2

I am new to this but it seems we all have the same grievance.

It appears as FP are no longer providing new loans, they have no other option but to squeeze every last penny they can from existing borrowers and will continue to do so as long as they get away with it.

FP's definition of variable on their website is that rates can go up or down however, mine only goes up! I think a letter to FP in the morning and then to the FO in 28 days.

Thank you all for your posts. Gives me a glimmer of hope.