BBL Complaints and Outcomes

Failure By HSBC to Update the Error Riddled Bounce Back Loan Database Resulted in Problems for a Business Owner Getting a BBL From Another Lender the Ombudsman Decides £400 in Compensation is Deemed Fair

It became apparent to many people that the so called BBL database that was set up many weeks after the BBL scheme was launched to add another level of protection to banks against fraudulent and duplicate applications was error riddled. This case somewhat proves that beyond all reasonable doubt. […]

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8 Year Disqualification Handed Out to Company Director For Applying For and Getting a £50k BBL When Only Eligible For a £10k HSBC Bounce Back Loan

As for whether people are getting away with taking the insolvency route when they took out a BBL and left it unpaid at liquidation, when for example they over-estimated their turnover to get that loan, well over-estimating by more than an additional 25% of the 25% 2019 turnover figure used to determine a BBL’s value is deemed to be the tolerance limit before a long disqualification is handed out, as you will see in the case below. […]

BBL Complaints and Outcomes

HSBC Pay £150 Compensation For Delays in Approving a Bounce Back Loan Which the Ombudsman Says Is Fair But They are Then Given the Greenlight By the Ombudsman to Snatch That BBL Back After a “Safeguarding Review”

Some more BBL madness for you today, in which HSBC pay £150 in compensation for delays in approving a Bounce Back Loan, but then perform one of their infamous “safeguarding reviews” and ultimately demand that BBL back, the Ombudsman says the compensation is fair, but then says, quite bizarrely, HSBC are right to recall the BBL! […]

BBL Complaints and Outcomes

Close Brothers the Bank Lord Agnew Has Shares In Treats a Customer Appallingly and Stops Him Getting a Bounce Back Loan and One of Their Agents Sending Him a “The Police Are Desperate to Arrest You” Message The Ombudsman Steps in and Gives Them a Good Slapping

Nothing shocks me anymore, and here is a tale and a half, regarding the utterly shocking way Close Brothers the bank that Lord Agnew has shares in treated one of their customers, it includes threatening messages and all manner of other wrong doing. […]

BBL Complaints and Outcomes

Simon Louth the Ombudsman States That Even Though Santander Had in Big on Their Website “Turnover for 2019 (Estimates Can Be Used)” He Expects Actual Turnover Figures To Be Used When Applying for a Bounce Back Loan!

Another case here for you to check out, in which Santander snatch back a Bounce Back Loan after a “review” and of course after craftily using most of it to pay off a customer’s overdraft. But the Ombudsman is quite clear that even though the business was established in 2019 and he could estimate his turnover, he didn’t think the business owner should have estimated it! But as you will see the business owner says he estimated his future turnover, which probably gave Simon a reason to knock back the complaint, some would say he should have stuck to saying I could estimate so did. […]

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11 Year Disqualifications Handed Out to Company Directors for Blagging Two Bounce Back Loans One from Barclays and one from Paragon for Their One Single Company and For Not Declaring Their Business Was in Difficulty on the BBL Application Forms

The rules surrounding Bounce Back Loans were complicated for many people to get their heads around, and the British Business Bank, as you will see below, did make it clear on the 3rd of June 2020, that if you owned more than one eligible business you could apply for a BBL for each of them, that however is not what happened in today’s case which saw two Company Directors hit with an eleven year disqualification for bagging two BBLs for their one single Company. […]