Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

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Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

This is a duplicate of the Blog Entry made on 28th June 2012 17:41.

*............mortgage costs, say experts *Homeowners hoping they can sue Barclays for distorting their mortgage rates through its Libor...

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[pompeyfaith]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

FP,

This is huge, and a far bigger issue than they are letting on, they did say on the news today that some buy to let mortgages are based on libor rates.

Tomorrow will also see the announcement that SME's can sue there banks for financial product misselling. I think this is were SME's were recommended to buy bank bonds and then the interest rate plummeted to an all time low.

[PlanB]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

FP,

This is huge, and a far bigger issue than they are letting on, they did say on the news today that some buy to let mortgages are based on libor rates.

Tomorrow will also see the announcement that SME's can sue there banks for financial product misselling.

I have two Libor tracker Buy-to-Let mortgages. At the peak of the Credit Crunch (2009) my payments increased by over £1k per month. I nearly went bankrupt at the time (hence my problems now) so I'd be happy to get involved in a class action claim against Barclays

Most sub-prime residential mortgages were Libor trackers too , and those poor sods got repossessed when Libor rocketed

[pompeyfaith]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

I have two Libor tracker Buy-to-Let mortgages. At the peak of the Credit Crunch (2009) my payments increased by over £1k per month. I nearly went bankrupt at the time (hence my problems now) so I'd be happy to get involved in a class action claim against Barclays

Most sub-prime residential mortgages were Libor trackers too , and those poor sods got repossessed when Libor rocketed

I think you need to start a lot of research on this now, I get a lot of interesting links from twitter on this so don't mind saving them and sending to you.

[pompeyfaith]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

I have two Libor tracker Buy-to-Let mortgages. At the peak of the Credit Crunch (2009) my payments increased by over £1k per month. I nearly went bankrupt at the time (hence my problems now) so I'd be happy to get involved in a class action claim against Barclays

Most sub-prime residential mortgages were Libor trackers too , and those poor sods got repossessed when Libor rocketed

Yes I know quiet a few that were shafted by Kensington mortgages and they were sub-prime

[PlanB]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

I've got a long list of people repossessed by GMAC, Kensington, SPML etc and those lenders were fined millions by the FSA for malpractice. I intend to get justice for them. It looks like I may have to add a new collection of victims of this Libor scandal. It's not only Barclays involved, the FSA are also investigating HSBC, RBS and others

[PlanB]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

Yes I know quiet a few that were shafted by Kensington mortgages and they were sub-prime

I'll PM you about this tomorrow if that's ok with you. I'm a bit emotionally exhausted tonight from watching Nadal lose in five sets to an unknown Czech

[pompeyfaith]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

I've got a long list of people repossessed by GMAC, Kensington, SPML etc and those lenders were fined millions by the FSA for malpractice. I intend to get justice for them. It looks like I may have to add a new collection of victims of this Libor scandal. It's not only Barclays involved, the FSA are also investigating HSBC, RBS and others

Perhaps you should start a tread on this Plan B as it will be an interesting one to follow.

[pompeyfaith]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

I'll PM you about this tomorrow if that's ok with you. I'm a bit emotionally exhausted tonight from watching Nadal lose in five sets to an unknown Czech

Yes that is fine

[PlanB]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

I was watching Balotelly score!

So maybe you can teach me the offside rule where others have failed

[Pixie]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

So maybe you can teach me the offside rule where others have failed

I could!

[PlanB]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

A good many of the sub-prime lenders were actually divisions of the big banks who now stand accused of rigging the Libor rate to their advantage - so there is a connection however indirect My one was J. P Morgan at the time and now disgraced

[PlanB]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

I'm afraid I'm as baffled by it as the rest... including the linesmen!

Victoria Beckham says she doesn't understand it even though David has tried to explain

[Handyman]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

A good many of the sub-prime lenders were actually divisions of the big banks who now stand accused of rigging the Libor rate to their advantage - so there is a connection however indirect My one was J. P Morgan at the time and now disgraced

Is that the same J.P Morgan that pays a certain ex prime minister - Tony Blair 3 million a year as a special advisor


I must go to spec savers as I thought this was a Labor fiddle

[pompeyfaith]

Re: Homeowners could sue Barclays for Libor fiddle even without clear proof it pushed up

Yes they will argue and argue, but unless someone puts there hard above the parapet and fight nothing will change and the consumer will carry on being ripped of by the city.

Many peoples lives have been wrecked here and as far as I am concerned that is worth fighting.

Those wrongdoers should be locked up as this is not a civil matter but a criminal one and if the law does not fit into that them it is Govt duty to change.

the sooner retail banking is split from investment the better.