First Direct Claims

Lender Information

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

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