First Plus Loans Reviews

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0.6 stars
Average rating for this product is: 0.6 out of 5

From 5 ratings and 33 reviews

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NameCredit RatingAPRTypical APRMin Loan AmountMax Loan AmountHome Owner  
Alliance & LeicesterGood8.00%8.00%£7,500.00£14,950.00No
Sainsbury's LoansGood8.00%8.00%£7,500.00£15,000.00No
Nationwide LoansBad7.90%7.90%£7,500.00£14,999.00No

Average Ratings for First Plus Loans

  • Speed of Application3.4 stars
  • Customer Service0.2 stars
  • Value for Money0.3 stars
  • Reviewer Ratings0.2 stars
  • Overall Rating0.7 stars

33 Reviews For First Plus Loans

  • Guest 16th Nov 2009

    Reviewer rating: 1 stars


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    By far the worst company I've ever dealt with! The customer services department have on many occassions lost my details and payments which have lead to my account being passed on to debt recovery firms. I got to the point where I actually wanted my account to only be dealt with by the debt recovery team as they were more helpful! They are absoloutely awful. NEVER EVER USE THEM!!

  • Guest 3rd Sep 2009

    Reviewer rating: 1 stars


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    i was sold a payment protection insurance policy, that I cant even use, as there are that many loopholes, its unbelieveable. No help whatsoever when we lost our jobs, then when self employed we again ran into financial difficulties, and first plus are no help again...they would rather repossess my property and make myself and family homeless than help us. DO NOT take out a loan with first plus.

  • cookie123 17th Feb 2009

    Reviewer rating: 0.5 stars


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    First Plus Loans? What a joke, should have been called Last Choice. They love to put interest rates up and in the next few days you get a letter informing you that you will be further out of pocket. But what about the last six months when the interest rate has fallen to an all time low. Where is my letter NOW, to say my rates are coming Down?? I'm still waiting and hungry?

  • jockdock 20th Jan 2009

    Reviewer rating: 0 stars


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    Borrowed £43,500 (Including £8,300 PPI) in August 2004. Asked for redemption figure this month after paying over £13,300 FirstPlus say £39,443 plus legal fees to settle including part refund of PPI !!!! Loan has only reduced £4,200, where do they buy their glasses because they seen me coming a mile away....

  • Ratfaced 11th Jan 2009

    Reviewer rating: 0 stars


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    This started out as a good secured loan rate from First Plus Loans it's now a Bad Unsecured rate, and I can only see it going up in future. Even though it wasn't a Low Start" loan, it might as well have been. Went up from 6.5% to 8.5% after 3 months and every change since has been up.

  • eddboo Rank: Lance Corporal 7th Jan 2009

    Reviewer rating: 0 stars


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    I have previously written a comment and praised Barclays First Plus for reducing there rate then to 9.1% (originally 7.4%) but yet a saving only lasted 2 months. Received a letter about a 6 months ago stating they were putting the interest rate back to 10.2% due to the economic climate. Sorry what a nightmare the rate has now been cut to a record low LIBBOR and LIDOR to at record lows whereas our cut BFP, always willing to put the rate up but never down. We need people power lets all write and p ...

  • remsal1 7th Dec 2008

    Reviewer rating: 0 stars


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    As many others I also purchased a loan from FIRSTPLUS, plus being the operative word, add on the loan wherever they can but never take off. The PPI is a huge extra cost and I have to wait 5yrs to get rid of it to be able to claim back a percentage of the outlay.

  • diddy did 17th Nov 2008

    Reviewer rating: 0 stars


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    My husband and I took out a loan two years ago with Firstplus. It was the worst thing we have ever done. The company suggested we take out a PPI alongside our loan as the loan was for a large amount or we would not be accepted for the loan. We duly did this and it added £18000 to the value of our loan. Considerably more over the term of the loan. Despite attempts to cancel it only £4000 was returned to our account. For approximately 6 months cover the amount came to over £12 ...

  • Ste41 17th Oct 2008

    Reviewer rating: 0 stars


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    We borrowed £43000 from first plus based information given by there fisherman who dangled there fat juicy worm rates in front of our noses. I asked the guy on the phone if first plus were in the habit of raising there interest rates often, they told me they very seldom raise there rates. We had 10 rises in the first year when asked what I asked them what it was based on but the letters clearly stated Bank of England base rate!

  • BigJockKnew 21st Jul 2008

    Reviewer rating: 0.5 stars


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    I have experience of First Plus`s customer service. Its awful. Any queries are channeled through your own 'personal' manager or rep. Answer service for 2 weeks every day having left umpteen messages but never called back.

  • sadlybroke 19th Jun 2008

    Reviewer rating: 0 stars


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    2 years ago I borrowed £44000 from firstplus, today I reiceved a redemption figure of £44875 and have been paying £360 per month, in that two years the interest rate has gone up by 2.5%.
    I would not advise anyone to do bussiness with Firstplus.

  • rclayton Rank: Lance Corporal 29th Mar 2008

    Reviewer rating: 0 stars


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    I borrowed 53,000 from First Plus as a short term solution following a relationship break-up. The loan was brokered by Norton Finance. When I took out the loan I specified that I wanted the loan short term and did not want to pay huge penalties when we settled. When we missed a couple of payments we tried to make an arrangement pending the sale of the house. We had to reduce the sale price by 15,000 because they harassed me up to five times a day. I complained to the FLA. but First Plus blamed N ...

  • gulable 25th Mar 2008

    Reviewer rating: 0 stars


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    Very stupidly took out a First Plus Loan and ended up paying far more than we borrowed and ended up loosing my dream house because of it. The PPI is high and make sure you claim all yours back under the new rulings. I was told that even if I paid the loan off before the 5 years I'd still get my money back. No way would I have taken it out otherwise.

  • Guest 25th Mar 2008

    Reviewer rating: 0.5 stars


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    I have been made to feel like a criminal by the First Plus Loans call centre staff and despite us trying to keep them informed and paying amounts when we are able to - I cannot think of anything good to say about First Plus and would not suggest anyone use them unless they are 100% sure that their employment is safe.

  • denf 21st Mar 2008

    Reviewer rating: 0 stars


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    We took out a First Plus Loan 5 years ago for 32000 and we are now paying 628 a month and I kid you not and this is over 20 years you do the maths we got a redemption figure last year we would pay back 48000 its shocking.
    My husband was also made redundant we got the payment protection for all of 6 months then it expired we had no idea that it was only for 5 years and we were not told this on the sales call and nowhere does it say this on the credit agreement we have now taken this further as we ...

  • Guest 20th Mar 2008

    Reviewer rating: 0 stars


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    First Plus Loans definately not the answer - If your circumstances change e.g divorce and you have to sell your home and pay off the loan you end up in even more debt due to the early redemption charges!

  • A Bradley 15th Mar 2008

    Reviewer rating: 0 stars


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    First Plus' own advisor stated that their interest rates are not linked to either the BoE base rate or the FHBR and that they can set them at whatever they like. I saw four interest rate rises on my loan in just 8 months. I went from an APR of 7 % to 9.3% !!! The BoE and FHBR interest rates hadn't increased by more than 1% ?? When I asked for a resettlement figure my interest rate miraculously dropped a full 1%, however despite making £6500 of payments in 18 months my resettlement figure w ...

  • Shafted 11th Mar 2008

    Reviewer rating: 0 stars


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    First Plus Loans have been the worst company I have ever had the displeasure to speak to. Asked for a redemption figure which you now have to do by fax. I was told It would take two weeks, by which then another monthly payment was due. Paid the monthly payment, and they took two, one in barclays name, the other in first plus. Asked for a refund which took 3 days, and queried redemption figure as we had now been waiting 3 weeks. Finally received figure, and settled within a week.

    First plu ...

  • chunkeyleadley Rank: Corporal 9th Mar 2008

    Reviewer rating: 0 stars


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    I am in the same position as all the others above, no matter how desperate you are for the money, it really isn't worth borrowing from First Plus Loans. In my opinion, they train their staff to avoid explaining the truth. Once you take out this loan there is no way out of it unless you are willing to pay more. Honestly.

  • chunkeyleadley Rank: Corporal 8th Mar 2008

    Reviewer rating: 0 stars


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    Talk you into extra money over longer terms and insurance that's not needed and make it all sound good. Trouble really comes when you want to pay back the loan earlier and find after 5 years of high monthly payments you still owe a lot more than you borrowed in the first place. Don't do it! You may regret taking out this loan. Try and find good reviews on this company.......it will be hard.

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