... The kitchen people recommended First National's home improvement loan.
We needed £3,000 for the kitchen. The loan they sold is also widely used by double glazing companies and other home improvement centres. It is the biggest rip off ever. Extortionate interest is charged, if you don't ... Read review
Advantages: None whatsoever Disadvantages: rip off interest, don't help the customer, too much to mention.
...house. The kitchen people recommended First National's home improvement loan.
We needed £3,000 for the kitchen. The loan they sold is also widely used by double glazing companies and other home improvement centres. It is the biggest rip off ever. Extortionate interest is charged, if you don't pay more than you should.
I didn't read the small print properly enough, to my regret.
They sell the loan that ... ...got a shock when the first years statement arrived, out of our £75 a month, only £25 a month was coming off the amount owed, the other £50 was interest. I duly contacted then, saying this can't be right etc, but it was. I asked them to change the loan, to freeze the interest just like all those advice programme say to do, but no way would they do it.
I tried the debtline companies, Citizens Advice Bureau , none of which were any good. ... more
Please, please read the small print on the loans especially with these people. I have a CCJ because of getting a home improvement loan with them.
We ordered a new kitchen 7 years ago, having just moved house. The kitchen people recommended First National's home improvement loan.
We needed £3,000 for the kitchen. The loan they sold is also widely used by double glazing companies and other home improvement centres. It is the biggest rip off ever. Extortionate interest is charged, if you don't pay more than you should.
I didn't read the small print properly enough, to my regret.
They sell the loan that if you pay more than the basic amount you pay less interest. The minimum loan payment was £75 per month, which really stretched us then, so to start with it we were wrongly advised. There was no way we could pay any more money on top of the minimum payment.
My second biggest mistake was not realising how long 120 months was, stupid of me I know. But you don't realise at the time that 120 months is ten years to pay back £3k.
We plodded along paying it and then got a shock when the first years statement arrived, out of our £75 a month, only £25 a month was coming off the amount owed, the other £50 was interest. I duly contacted then, saying this can't be right etc, but it was. I asked them to change the loan, to freeze the interest just like all those advice programme say to do, but no way would they do it.
I tried the debtline companies, Citizens Advice Bureau , none of which were any good. I was so worried though, common sense left me and I forgot to contact my bank who were always very good (the Royal Bank of Scotland).
By then I had gone on maternity leave and couldn't even pay the minimum amount, I offered them less and all sorts of things but to no avail. The only option open to me I thought was to let it go to court and try and argue my case and sort the payments out. I knew the trouble it causes having a CCJ registered against you, but didn't have much option left anymore.
I prepared a defence which didn't work unsurprisingly! The judge was sympathetic. The bank sent a local solicitor who was helpful. The worst shock was that, yes when I paid the £3k back, First National could sue me for the loss of interest, god forbid that would be about £8k.
I still have about 1 and a half years left to pay back the money owing and then will still be blacklisted for 3 years (I think) but when the time comes, I really will be seeking my banks help and advice and a solicitor this time around if they try and sue me for the interest.
To any would be purchasers of this type of loan, please don't get it, unless you can afford the extra payments. It really is cheaper to get a bank loan from your Bank and read the small print.
With regards to getting credit, yes its a nightmare. The RBS have been very good actually, they've let me have a switch/cheque card, and a bank loan last year for some double glazing, I think thats only because I've had an account with them for 16 years and both wages go in the bank etc. I cannot get a credit card/store card, mobile phone contracts aren't always given. Catalogues don't want to know, and most other banks won't give us a bank account even one without cheque card use.
I want to change mortgages as well, so thats the next test to see how it affects us moving mortgages, I'm not expecting miracles.
Cynically, the only advantage to all this, is I don't have a horrendous credit card bill after Christmas
Advantages: Gave us a loan Disadvantages: Messed up the payments, set up two accounts for the same thing
...is quite understandable, however our first payment had been taken out of the bank account so as we had got the finace through the fitting company all we could do was advise them to contact the lenders ie first national. The following month another payment was taken but it was double the agreed amount including a missed payment charge of £20 so we contacted the bank and was told we had not made the first payment they said they could not find it on ... ...Eventualy it emerged that first national had set up two accounts for the one purchase but this took about 4 months to sort out, so we got another loan and paid of the first national loan as we were feed up of being messed about. That next month we had a payment go out to them even though we had paid everything we did notice however it was a smaller amount than before so we rang to query and after much transfering of departments we got through to ...
smoothdirtbag 11.05.2005
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Ciao members have rated this review on average: helpful Review of First National
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Quick review of First National
Here is a little story that thank God didn't turn into a nightmare, thanks to ciao about the reviews on 1st National bank.
1st NATIONAL BANK(STAY AWAY) was going to give me a loan within a few hours and they even sent someone in my flat with the documents for me to sign.
I thought that was very strange!
The guy who was from RELAX FINANCE(ALSO STAY AWAY)met me at my place and straight away gave me the papers to sign.
He also gave me a note explaining that he won't be able to advise me on my loan application and he is here to take details and signatures from me.
In the end he left the application and went off back to his office.
I read through and it was bad news all together. I went on the net to read reviews and i found ciao. Thank you!!!! ...
porcelani 18.10.2007
Ciao members have rated this review on average: helpful Review of First National
Advantages: They're not allowed to come around & smash your knees with a hammer. Disadvantages: Most aspects.
First National Bank plc / GE Money Home Lending.
Account difficulties. As this company is currently proving more accommodating and holding out an olive branch, I have removed my previous review and reserve my comments.
First National Bank plc / GE Money Home Lending.
Account difficulties. As this company is currently proving more accommodating and holding out an olive branch, I have removed my previous review and reserve my comments.
First National ... ...an olive branch, I have removed my previous review and reserve my comments.
First National Bank plc / GE Money Home Lending.
Account difficulties. As this company is currently proving more accommodating and holding out an olive branch, I have removed my previous review and reserve my comments. ...
Llan_boy 05.10.2007 (21.10.2007)
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Ciao members have rated this review on average: helpful Review of First National
I am low paid part time worker and after thinking and deciding for 6 months i finally built the courage to buy pc from tiny computers. on the 29 march 2000 It was impossible for me to pay the large sum of 1200.00 so just blindly took the interest free option. I did not realise that i am being forwarded to a company named 1st national and that they had their own contract rules and i was not told this. We were told that we are to clear the balance ... ...of regular direct debits of 41.50 per month, i could not make the final payment on the 8th as it was a sunday. We had a family problem on monday and i made the payment on Tuesday that a mere two days late. I was devasted to find out that i was charged the whole year's interest fee on my pcm which came to £400. I honestly could not afford it. I was told to read my contract for the rules. I did and it was very hidden and unclear. Nobody would notice ...
herchallenge 24.04.2001
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Ciao members have rated this review on average: helpful Review of First National
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Advantages: Willing to listen. Good rates of interest on current account Disadvantages: none
I opened my first account at Abbey National 6 years ago. Because I was not paid directly into the bank I found that the services I could have were limited.
When I changed my job and my salary was paid into my account I was able to take advantage of more services, such as an overdraft facility and cheque book.
I have since then opened both an ISA and Esaver accounts.
Over the years a couple of mistakes have been made by the bank but I find that having spoke to them on the phone the problems have been sorted out very quickly with no further incidents.
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