First Plus Loans Reviews

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☆☆☆☆☆

“This started out as a good secured loan rate from...”

Written on: 11/01/2009 by Ratfaced (1 review written)

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… Read Full Review

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“I have previously written a comment and praised...”

Written on: 07/01/2009 by eddboo (2 reviews written)

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… Read Full Review

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“As many others I also purchased a loan from FIRSTPLUS,...”

Written on: 07/12/2008 by remsal1 (1 review written)

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… Read Full Review

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“My husband and I took out a loan two years ago with...”

Written on: 17/11/2008 by diddy did (1 review written)

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 £12000. We currently… Read Full Review

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Htarot's Response to diddy did's Review

Written on: 23/02/2009

I found this review helpful because... in exactly the same position.

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☆☆☆☆☆

“We borrowed £43000 from first plus based information...”

Written on: 17/10/2008 by Ste41 (1 review written)

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!… Read Full Review

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★☆☆☆☆

“I have experience of First Plus`s customer service....”

Written on: 21/07/2008 by BigJockKnew (1 review written)

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… Read Full Review

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“2 years ago I borrowed £44000 from firstplus, today I...”

Written on: 19/06/2008 by sadlybroke (1 review written)

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… Read Full Review

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“I borrowed 53,000 from First Plus as a short term...”

Written on: 29/03/2008 by rclayton (2 reviews written)

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… Read Full Review

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“Very stupidly took out a First Plus Loan and ended up...”

Written on: 25/03/2008 by gulable (1 review written)

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… Read Full Review

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★☆☆☆☆

“I have been made to feel like a criminal by the First...”

Written on: 25/03/2008

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… Read Full Review

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“We took out a First Plus Loan 5 years ago for 32000...”

Written on: 21/03/2008 by denf (1 review written)

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… Read Full Review

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☆☆☆☆☆

“First Plus Loans definately not the answer - If your...”

Written on: 20/03/2008

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!… Read Full Review

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“First Plus' own advisor stated that their interest...”

Written on: 15/03/2008 by A Bradley (1 review written)

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 was… Read Full Review

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“First Plus Loans have been the worst company I have...”

Written on: 11/03/2008 by Shafted (1 review written)

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… Read Full Review

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“I am in the same position as all the others above, no...”

Written on: 09/03/2008 by chunkeyleadley (2 reviews written)

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… Read Full Review

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“Talk you into extra money over longer terms and...”

Written on: 08/03/2008 by chunkeyleadley (2 reviews written)

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… Read Full Review

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★☆☆☆☆

“Interest rate went up 5 times from 7.5% to 10.2% and...”

Written on: 08/03/2008 by eddboo (2 reviews written)

Interest rate went up 5 times from 7.5% to 10.2% and in some cases not justified as interest rate went down on 2 occasions. No help in getting redemption figure No customer service all automated. Part of Barclays and if known that would never have signed up as had problems before. list goes on and on. Today (6th March) we got a letter saying they are reducing thier rate by 1.1% to 9.1% amazing saving £40 per Month Horay!!!!!!… Read Full Review

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“Worst plus are the worst. Put interest rates up when...”

Written on: 14/02/2008 by completelyskint (1 review written)

Worst plus are the worst. Put interest rates up when they want. NEVER put them down. Get you to buy PPI because you'll get a lump sum in 5 years if you don't claim.(believe it when i see it).Make loads of money out of you...put it this way we pay about '£550 per month...only '£59 comes off the loan...Great eh? … Read Full Review

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“We applied for a loan for £30,000 4 years ago. The...”

Written on: 11/02/2008 by steevo25 (1 review written)

We applied for a loan for £30,000 4 years ago. The application went through very quickly and one of their advisor's called to say that we could actually borrow £40,000 if we wanted. We thought the extra bit of money would come in useful. We were also advised to take out the payment protection plan which we did. Just recently we were in a position to pay the loan off ( at least the bulk of it anyway ). We got a settlement figure which took a while to come through and discovered that to settle… Read Full Review

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“Have you ever try and settle with this company, my...”

Written on: 17/01/2008

Have you ever try and settle with this company, my lawyer wrote to them six times for a settlement figure and when they eventually responded it came back I was owing 15k more than the original loan. They nearly sent me to an early grave. DO NOT USE THEM EVER. Look out for the small print on the payment protection insurance, its a not a good deal, they make it part of the security, and if you miss a payment the refund is VOID. They use the fact that most people who need them will sign up to the… Read Full Review

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