Barclays rate swaps-Court ruling means customers can make claims.

[MARTIN3030]

http://www.telegraph.co.uk/finance/rate-swap-scandal/9639202/Barclays-in-court-over-mis-selling-claims.html

[MARTIN3030]

And just to rub their noses in it Barclays has been ordered to disclose.

Looks like the Judge was not standing for any excuses.

 

http://www.telegraph.co.uk/finance/rate-swap-scandal/9641721/Libor-Judge-forces-Barclays-to-reveal-names-of-staff-involved-in-rate-rigging.html

[slick132]

This will be of considerable interest to the many CAG users who were also involved in Rate Swaps and lost out badly.

 

It sounds like the judge was having none of Barclays attempts to side-step the claim that is coming their way.

[Surfer01]

Can someone please explain the above in simple terms? We have a Firstplus loan which started at 7.5% and then rose to the current level of 10.5% due to BOE increases and has stayed there ever since despite BOE decreasing.

[slick132]

Hi Surfer,

 

Barclays Rate Swaps are a highly specialised investment product which is very different to the problem that you have.

 

To discuss the case further, start a thread in the appropriate forum. Is or was FP owned by Barclays ?

 

A web search reveals that many customers are unhappy with FP and I saw a figure quoted of 99% of FOS complaints upheld, which is massive.