Barclays Bank LIBOR
Consula is working with a number of law firms, claims management companies and barristers to develop two test cases: one for consumers with LIBOR-based Barlcays Bank Mortgages taken out between 2005-2007/8, and one for consumers with LIBOR-based Barlcays Bank Savings/ISAs taken out between 2007/8-2009.
If you took out a Barclays Bank Mortgage between 2005-2007/8 or put your savings into an ISA or other cash based vehicle between 2007/9 AND the interest rate was based on LIBOR, you may be entitled to compensation (for an over-payment of interest on Mortgages, or an underpayment of interest on savings). Consula has developed a team of lawyers from around the UK who have teamed up to put together two test cases for submission to the Financial Ombudsman Service.
A copy of the FSA Final Report is available here.
In late June 2012 Barclays Bank agreed to pay $453 million to U.S. and UK regulators to settle allegations that it had systematically manipulated the London Interbank Offered Rate (Libor) between 2005 and 2009. consula beleives that Barlcays Bank Mortgage customers who had mortgages based on the LIBOR rate should be compensated for overpayments of interest arising as a result of the rate fixing.
We are looking for interested consumers who would like to be part of the test cases. The test cases are not going through the Courts, they will go to the Financial Ombudsman. Because these are a "test cases" there's no guarantee that the Financial Ombudsman will uphold any complaints. However, our test cases will be based on the opinions of prominent lawyers and barristers who believe there is a case to answer and have helped to formulate and construct the particulars of the basis for the test cases. If you would like more information about the test case, the criteria for being considered to be involved and how we intend to proceed, please complete the form below and we will send you an email with the relevant information.
Please complete the form below to express your interest in participating in our test case (please allow up to 4 working days for a response), or register to access all the information and resource you need to apply to participate in the test case.
Please only use this contact form to inform us of your interest in participating in the Barclays LIBOR test cases.