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Firstplus' OFT reprimand - Disclosure

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  • #61
    Re: Firstplus' OFT reprimand - Disclosure

    Good grief

    I am so glad I ditched my FP loan after a few years (moving house)

    Feel so sorry for those caught by this scandal, shame on the OFT

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    • #62
      Re: Firstplus' OFT reprimand - Disclosure

      Originally posted by ncf355 View Post
      Good grief

      I am so glad I ditched my FP loan after a few years (moving house)

      Feel so sorry for those caught by this scandal, shame on the OFT
      The hope is that something is done about this as in "right now" to prevent any more repossessions or worse as most will not qualify for legal aid, the FCA need to grow a pair & make this clear for consumers along with their rights.....fingers crossed.:juge:

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      • #63
        Re: Firstplus' OFT reprimand - Disclosure

        Hi All
        I have been investigating this on behalf of a friend in a similar position as all the previous posts who is desperate to get rid of her FP mortgage and the more I read about the practices of this company I am absolutely astonished they have got away with it so far. But a lot of what is going on may explain why Barclays are actively trying to offload FP at any price but as yet due to the possible toxicity of the loan book they have not sold it as yet. Please advise me otherwise as I may be wrong but surely a loan/mortgage which was offered by FP which "tracks" the FHBR (Finance House Base Rate) which is in effect a 3 month average of the LIBOR rate cannot be enforceable when the parent company of FP i.e Barclays have been fined for manipulating this rate.

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        • #64
          Re: Firstplus' OFT reprimand - Disclosure

          Originally posted by Alisonm View Post
          Hi All
          I have been investigating this on behalf of a friend in a similar position as all the previous posts who is desperate to get rid of her FP mortgage and the more I read about the practices of this company I am absolutely astonished they have got away with it so far. But a lot of what is going on may explain why Barclays are actively trying to offload FP at any price but as yet due to the possible toxicity of the loan book they have not sold it as yet. Please advise me otherwise as I may be wrong but surely a loan/mortgage which was offered by FP which "tracks" the FHBR (Finance House Base Rate) which is in effect a 3 month average of the LIBOR rate cannot be enforceable when the parent company of FP i.e Barclays have been fined for manipulating this rate.
          Have you seen this; http://legalbeagles.info/firstplus-r...t-foi-release/ :tinysmile_twink_t2:

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