First Direct Mortgage Plevin PPI ClAIm

IT'S NOT THE END OF PPI CLAIMS

PPI has been the biggest financial mis-selling scandal in the world, in which a staggering £38 billion was given back to consumers for mis-sold PPI in compensation by banks & finance providers before the 2019 PPI deadline. However, even after this the PPI scandal is far from over!

The good news is that you can still make new PPI Claims under a new ruling but this time its for undisclosed high commission. This type of PPI claim is separate to the PPI redress scheme that ended in 2019 and is based on the amount of commission you were charged on your PPI policy.

Potter v Canada Square - Latest ruling April 2021

The case of Canada Square Operations Limited v Beverley Potter [2020] brought a degree of clarity to the issue of limitation points in Plevin Litigation. This judgment was welcomed by law firms, claims management companies and claimants alike as it strengthened the claimants’ argument that these claims should not have a limitation period applied to them due to the concealment of PPI commission levels. This meant that claims are no longer confined to a six-year limitation period from when your credit card/loan/mortgage or other finance ended.

Potter v Canada Square Ruling - April 2021

About First Direct

First Direct operates solely through telephone and internet banking, although branch facilities are available through its parent bank HSBC. You can speak directly to a fellow human. Whether you ring or get in touch online, they are always there, 24 hours a day. 7 days a week. They never closed, not even for a minute, so you can be sure that there's always someone here to listen and support you.

Customers of the bank can apply for personal loans online, and get a quick decision. If accepted, the money will be available to customers immediately, with fixed term repayments throughout the loan. The loans are, however, only available to those who hold a current account with the bank.

Services offered by FirstDirect include Banking, Saving, Mortgages and Loans.

Mortgage applications were typically made over the phone and there were a variety of mortgage types offered, including: Fixed rate , Remortgages, Tracker, Offset and Buy-to-let.

PPI was often sold with mortgages and with the average commission charged at 67%, you may also have been charged a high level of commission on your PPI premium(s). If this wasn't disclosed you could be entitled to make a claim for compensation under a ruling known as the 'Plevin' ruling as this constitutes an unfair relationship. However before making any claim for commission, it is important to find out the level of commission you were charged on your PPI policy premium(s).

What is Plevin PPI?

Plevin refers to a Supreme Court case from November 2014 where Mrs Susan Plevin brought a case against Paragon Personal Finance Ltd regarding her PPI policy. The claim was centred around the commission charges on a PPI policy that Mrs Susan Plevin was sold to cover a secured loan from Paragon.

Mrs Plevin later discovered that in small print of the terms and conditions of the PPI policy that a whopping 71.8% of her premium was the amount of commission she was charged by the lender. She alleged that this was unfair and unclear and took Paragon to court and the case went up to the Supreme Court.

The Supreme Court agreed with Mrs Plevin and her lawyers, and determined that the sale of the PPI policy was unfair because of the following reasons:

The commission payment was not disclosed;
The high percentage of the PPI premium that was paid as commission.

This decision set precedent for a new category of PPI claims, and opened the floodgates against banks and other finance firms who had sold PPI to their customers.

With around 64 Million PPI Polices Sold Between 1990 and 2010 there is a significantly high chance that you are eligible for a refund.

How is Plevin different to mis-sold PPI?

Originally the PPI scandal was focused on the mis-selling of PPI and whether the policy was suitable or not at the point of sale. however a Plevin PPI claim's focus is on whether First Direct took a high-level commission from your mortgage PPI premium(s) without telling you about it. If the commission was hidden, or the commission was unfairly high, then this is deemed to be an unfair relationship between the lender and borrower and is eligible for compensation claim.

Plevin claims are based on a completely different area of law, namely the Consumer Credit Act 1974, so they are not subject to the FCA's PPI deadline, hence claims are still being processed today.

Claiming under the Plevin ruling

You could be eligible to make a claim if:

Your PPI policy was open after 6 April 2007;
You have not previously complained about Mis-sold PPI to First Direct;
Your PPI Claim was previously rejected by First Direct;
First Direct only refunded you for the “Plevin only” part of your PPI (also known as a “tipping point offer”)
The Plevin ruling means that if more than 50% of your PPI’s cost went to hidden commission to the lender, or the lender and the broker combined, and it was not sufficiently explained to you, you are due compensation.

Did you have PPI with your First Direct Mortgage?

A recent ruling means simply being sold payment protection insurance (PPI) means you're potentially a victim of a mis-selling. Although the PPI deadline has now passed you could still claim PPI compensation from First Direct. Find out how below.

First Direct were one of the many firms involved with the mis-selling of PPI with their mortgage products. You may have been offered PPI when you took a mortgage with them. PPI insurance was designed to cover payments if you were unable to because of an accident, sickness, involuntary unemployment or your death.

With the Plevin ruling and subsequent landmark court cases that have come to light, thousands of people who initially thought they were not eligible to claim may now be eligible to make a claim. This is why many First Direct customers are checking their accounts to find out if they had PPI and whether they could be eligible to make to commission claim under the Plevin ruling.

How we can help with your First Direct Plevin Claim

MoneyPlus Legal is a Plevin PPI Claims specialist, whose core focus is on helping consumers who were sold PPI to use all available and possible options to obtain a legal remedy for compensation of undisclosed & high commission from the finance provider. If you’re unsure whether you are eligible to make a claim under the Plevin ruling please don't worry as MoneyPlus Legal will always conduct a full review of all your PPI credit agreement(s) to establish whether there is a case for unfair relationship.

MoneyPlus legal will use their specialist 'Plevin' PPI claims experience to investigate, negotiate and settle any claim as quickly as possible. Our Plevin PPI Check and claim service is simple and completed on a no win no fee basis* and you will be kept informed throughout the claim process.

First Direct Mortgage Plevin PPI ClAIm

IT'S NOT THE END OF PPI CLAIMS

Potter v Canada Square - Latest ruling April 2021

About First Direct

What is Plevin PPI?

With around 64 Million PPI Polices Sold Between 1990 and 2010 there is a significantly high chance that you are eligible for a refund.

How is Plevin different to mis-sold PPI?

Claiming under the Plevin ruling

Did you have PPI with your First Direct Mortgage?

Ready To Get Started?

MoneyPlus Legal Plevin PPI Service:

How we can help with your First Direct Plevin Claim

Our Plevin Claims Process

Step 1

Start Your Free
Plevin PPI Check

Step 2

Sign & Return Our Pre-Filled Forms

Step 3

Your Plevin Claim Eligibility Checked

Other Mortgage Providers Who sold PPI:

First Direct Mortgage Plevin PPI ClAIm

IT'S NOT THE END OF PPI CLAIMS

Potter v Canada Square - Latest ruling April 2021

About First Direct

What is Plevin PPI?

With around 64 Million PPI Polices Sold Between 1990 and 2010 there is a significantly high chance that you are eligible for a refund.

How is Plevin different to mis-sold PPI?

Claiming under the Plevin ruling

Did you have PPI with your First Direct Mortgage?

Ready To Get Started?

MoneyPlus Legal Plevin PPI Service:

How we can help with your First Direct Plevin Claim

Our Plevin Claims Process

Step 1

Start Your Free Plevin PPI Check

Step 2

Sign & Return Our Pre-Filled Forms

Step 3

Your Plevin Claim Eligibility Checked

Other Mortgage Providers Who sold PPI:

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Potter has the potential to impact on all types of credit claims!

Potter v Canada Square Case

What the press said?

Start Your Free
Plevin PPI Check