First Direct Claims
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First Direct is a telephone and internet bank based in the UK. It is a division of HSBC Bank which has interests world-wide. They offer loans, mortgages and credit cards to which payment protection insurance (PPI) has often found to be attached.
HSBC, the parent company, has set aside £3.9 billion to pay compensation for successful PPI mis-selling claims of which £2.98 billion has already been spent.
In its annual report the bank said it had sold a total of 5.4 million policies since 2000 adding: “At 31 December 2017, the estimated total complaints expected to be received were 2.2 million, representing 41% of total policies sold.”
How was PPI mis-sold?
If you took out a loan, credit card or mortgage with First Direct, it is likely you were mis-sold PPI if you experienced any of the following:
- you were pressured into buying PPI or told you must have PPI
- you were promised a cheaper rate if you bought PPI
- you were already covered by another policy
- you received full sick pay from your employer
- you were told your loan or credit application was more likely to be accepted if you bought PPI
- PPI was added without telling you
- you were advised to buy PPI that did not suit your circumstances or needs
- you were self-employed, unemployed or retired but advised to buy PPI
- you had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
- you were advised that a pre-existing medical condition was included in your PPI policy (or advised that it wasn’t included)
- it was not made clear that you would pay interest on the PPI if it was added to your loan
- it was not made clear that the PPI would end before the loan or credit was repaid
- the amount of commission paid on the sale was not revealed at the time
Start Free PPI Check**
To get started either fill in your details on our website or call us on 0800 862 0331 and speak to one of our friendly, knowledgeable advisors who will guide you through the process.
**Free Check with our claims service. Check is lender specific.