Thread: Firstplus PPI - Can you reclaim the broker fee?

Hi All, I wish I had looked on this site before writing to Firstplus!!! Anyway I took out a loan with firstplus in 2005 and was missold PPI so i made a claim..anyway they did offer me a refund of part of the total which I foolishly accepted last year...never mind...
Ive recently been contacted by a no win no fee claim company who told me that you can claim back the broker fee? I originally contacted loans.co.uk and they referred me to Firstplus so I can I claim for this?? I dont know how much it would have been on a loan of 24000 (without interest).

Any help from all of you knowledgeable guys would be great.

Many Thanks

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Hi guys just wondering if you had any idea on this one?? Thanks in advance

Loans.co.uk Ltd have issied redundancy notices to their staff and if redirecting you they may be buying time. They are being served Part 20 notices under directions of a District Judge to be added to a claim.

Thanks timcoombs...so does this mean there is no point pursuing the broker fee with the

Sorry if I sound a bit thick

the Broker fee can only be recovered if it was not disclosed at the time the loan was taken out. essentially it would not appear in the loan agreement.

if that is the case then it is recoverable if not then im afraid you will not have much luck

VMT for this, it definately does not appear in the credit agreement...would I approach the broker or Firstplus regarding this ? I have all of the loan agreements etc but the loan was definately dealt with my loans.co.uk.

just a thought...if there is a broker fee...how is it applied ? does it get swallowed up in the loan..is that just a clear case of daylight robbery?

Can i just check, how did you become aware that there was a broker fee?

I got a phone call from a company asking me if Id ever had a loan with PPI ect i told them I had but already claimed and they said did you realise you would have paid a broker fee...so I looked on loans.co.uk website and they charge up to 3k broker fee.

Ah ok, well we need to get the underwriting sheet really to get full disclosure of the commissions paid to the agent by the lender

it is suicide to try and reclaim without the documents that you would need to support the claim

many thanks, would I just ring and ask firstplus for a copy of this? or would I need to ask for a full SAR?