Premium Content Archives

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

June 20, 2022

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. […]

Ombudsman Does Have the Power to Force a Bank to “Replicate” a Bounce Back Loan Even Now That the Scheme is Closed If That Bank Made Errors When You Applied Leading to You Not Getting One

June 16, 2022

An interesting insight today into getting a “replica” Bounce Back Loan even though the scheme is now closed, if you have a complaint about a bank messing you about, declining your application unfairly or making errors warrants the […]

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

June 15, 2022

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. […]

Sole Trader Complains That Barclays Arranged an Appointment to Allow Him to Open a Business Account to Apply For a Bounce Back Loan When the Branch Was Closed, the Ombudsman Awards Increased Compensation

June 13, 2022

There are so many complaints about Bounce Back Loans that the Financial Ombudsman Service are working their way through, however some, like the one in today’s case, have been resolved, resulting in Barclays getting a slap. […]

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”

June 8, 2022

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! […]