For Barclays bank staff that got a staff mortgage during the 80s and 90s
stephenliverpool1
Posts: 1,312 Forumite
Hi all,
Any staff that got a Barclays staff mortgage during the 1980s and 1990s would have had to got a Norwich Union staff protection scheme before the bank would agree to give the mortgage.
I have a friend who is trying to claim this as mis-sold PPI and until last week, he was not having much luck as the bank were just rejecting his claims. He has now been told that the bank will reopen his case to see if was mis-sold (namely pressurised advised sale).
I have asked him to keep me updated as I was a member of staff and took out a staff mortgage in the 1980s.
I will keep everyone updated as soon as I hear any news.
By the way, I used to be a PPI complaint handler at Barclays and was a whistle blower with the FCA and FOS for a while. I found the area totally incompetent and dysfunctional.
By the way, I have told him to escalate to the FCA if Barclays do not uphold his complaint.
Any staff that got a Barclays staff mortgage during the 1980s and 1990s would have had to got a Norwich Union staff protection scheme before the bank would agree to give the mortgage.
I have a friend who is trying to claim this as mis-sold PPI and until last week, he was not having much luck as the bank were just rejecting his claims. He has now been told that the bank will reopen his case to see if was mis-sold (namely pressurised advised sale).
I have asked him to keep me updated as I was a member of staff and took out a staff mortgage in the 1980s.
I will keep everyone updated as soon as I hear any news.
By the way, I used to be a PPI complaint handler at Barclays and was a whistle blower with the FCA and FOS for a while. I found the area totally incompetent and dysfunctional.
By the way, I have told him to escalate to the FCA if Barclays do not uphold his complaint.
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Comments
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Surely you would know, then that FOS will not interfere with the legitimate commercial judgement of a business. If Barclays chose at the time to insist on staff having a particular insurance cover then it was entitled to do so.stephenliverpool1 wrote: »I used to be a PPI complaint handler at Barclays and was a whistle blower with the FCA and FOS for a while.
Maybe I should not be so sure that you would know, then.stephenliverpool1 wrote: »I found the area totally incompetent and dysfunctional.0 -
magpiecottage wrote: »Surely you would know, then that FOS will not interfere with the legitimate commercial judgement of a business. If Barclays chose at the time to insist on staff having a particular insurance cover then it was entitled to do so.
Maybe I should not be so sure that you would know, then.
Really ? My friend has got an uphold and redress for his endowment mortgage PPI policy with the 'Go-To' bank.
With regards his repayment mortgage. he is off to the FOS/FCA (or whatever they are called now) after taking advice from me.0 -
Really ? My friend has got an uphold and redress for his endowment mortgage PPI policy with the 'Go-To' bank.
Endowments did not have PPI on them. That was not possible.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
stephenliverpool1 wrote: »I used to be a PPI complaint handler at BarclaysEndowments did not have PPI on them. That was not possible.
I suppose Barclays is also entitled to pay for cheap staff who make payouts on easily defended complaints as a matter of legitimate commercial judgement.
It would explain why some weird upholds are made at times.
A competent investigator, on the other hand, would recognise that legitimate commercial judgement is a defence. They would also consider whether FOS has jurisdiction if the complaint relates to the early 1980s as Barclays did not join the Banking Ombudsman scheme until 1986 (because it did not exist until then).0 -
stephenliverpool1 wrote: »Really ? My friend has got an uphold and redress for his endowment mortgage PPI policy with the 'Go-To' bank.
With regards his repayment mortgage. he is off to the FOS/FCA (or whatever they are called now) after taking advice from me.
He might want to take advice from someone that knows the difference between the FOS and the FCA.
How long did your employment at Barclays last, did you get past the training stage?0 -
I would hazard a guess that the OP was part of a cull of those who wereHe might want to take advice from someone that knows the difference between the FOS and the FCA.
How long did your employment at Barclays last, did you get past the training stage?stephenliverpool1 wrote: »totally incompetent and dysfunctional.0
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