I have spoken to enough people on my helpline and seen more than enough letters and documents sent out to Bounce Back Loan recipients to be able to put together this detailed, and much more importantly, up to date overview of how each BBL Lender is treating and responding to customers who are unable to repay those loans.
As some bank bosses may get their underpants/knickers in a twist about this section of my website, I have also put links to articles that will give you an insight into things they have done that has resulted in them being given an official slap related to BBL skulduggery.
Below is an overview of the treatment people get from each Lender:
Close Brothers Ltd – A bank Lord Agnew has or had shares in and one that got a slap for one of their agents making up stories and telling one of their customers that the police were going to arrest them. They did not however issue a lot of BBLs, but after their recent Ombudsman slapping you may find they are behaving themselves now if you contact them.
Barclays Bank – The best I can say about Barclays is that they are following the Bounce Back Loan rules, but low betide you if you haven’t. They also have a huge guarantee claim figure, which indicates they are not bending over backwards to offer tailored forbearance deals to their customers, but certainly ask them to. They do make mistakes and errors though.
NatWest Group – Even though Nigel Farage may be a tad upset with the NatWest Group, having interviewed their team myself, when it comes to BBL forbearance they do have a fully trained and dedicated team willing to help and support you. If they don’t you let me know.
> My Fireside Chat With NatWest, Business DebtLine and the Federation of Small Businesses
Lloyds Bank – Bank staff very friendly and understanding, they tend to offer an instant 30 day breathing space to customers who contact them with BBL repayment worries. However, they will tend to push you to default if they cannot offer a tailored deal. They do make mistakes though.
HSBC UK Bank – Multiple reports of gormless staff, saying things that scare and worry their customers and reports of a male staff member talking down to female customers. The Ombudsman has discovered that HSBC staff do lie and have ruled against them many times. The bank boss has stated they do tend to offer 30 day breathing spaces. Oh, and if your HSBC Branch Manager offers to invest your BBL in crypto, best turn down that offer.
Santander UK – They will try and push you to default when it is obvious you cannot repay your BBL and the bank is often unwilling to offer additional forbearance, but they do so love snooping in their BBL customers’ accounts and grilling them about anything they don’t like the look of.
Starling Bank – Understanding and compassionate staff, who in most cases will openly and honestly explain what happens if you are unable to repay. The bank however is not averse to putting in the guarantee claim rapidly, and they have been slapped for making mistakes.
Metro Bank – I have had many reports of staff just telling people to default as the bank gets their money back and that is ultimately what the bank wants. Friendly enough staff with a no nonsense approach. They are certainly not afraid of slapping in a guarantee claim.
Bank of Scotland – You can expect the same type of response with Bank of Scotland as you will see mentioned above with their sister bank, Lloyds Bank.
TSB Bank – I have had reports of TSB staff being “absolutely lovely” and will be more than happy to discuss things with you, including explaining the default process in a compassionate way. They did however get their hands and legs slapped by the Ombudsman recently.
Co-operative Bank – Much like the bank above, the Co-operative Bank staff are helpful and friendly and are prepared to spend as much time as needed explaining things to you when you are unable to repay your BBL.
Tide Capital Ltd – Tide do of course want their money back and whilst I have seen them offer three month repayment breaks to people who have contacted them, they never offered PAYG options.
Allica Bank – This is a BBL lender that you may never have heard of, they bought a chunk of the AIB Group BBL loan book and haven’t had any defaulters (yet). So it is true to say they certainly cherry picked the best BBL’s to buy.
New Wave Capital Limited – You may know this lender as Capital on Tap, and they will put their guarantee claims in on defaulted BBL’s quicker than you can say their name.
Conister Bank – The best thing I can say about Conister Bank is that they do their own thing, and its like dealing with a bank stuck in the 1970’s. You will know exactly what I mean if you have had to contact them. They also employ “Private Investigators” to go snooping on those that cannot afford to repay their BBL’s.
No Meaningful Feedback Received
I have not had any meaningful feedback from customers of the following BBL Lenders, who did not issue that many BBLs:
Paragon Bank PLC
GC Business Finance
Skipton Business Finance Ltd
Investec Bank
Arbuthnot Latham & Co Ltd
Funding Circle
Danske Bank
Bank of Ireland
AIB Group (UK) Limited
Clydesdale Bank PLC
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