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Barclays Mortgages Not Good Enough...

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Barclays bosses take out mortgages with rivals

Robert Winnett and Holly Watt

(Taken from: The Sunday Times - April 30, 2006)

THE head of Barclays has snubbed his own bank and taken out a mortgage with one of its main rivals. John Varley, the bank’s chief executive, mortgaged his London town house with HSBC last year, shortly after being promoted to the top job at Barclays. The bank’s finance director and deputy chairman have also chosen against taking out mortgages with Barclays, in favour of home loans from Royal Bank of Scotland and Lloyds TSB.

The revelation has been seized upon by consumer groups and MPs who warned that the public will react badly to the lack of loyalty shown to the bank’s own products by those at its helm.

Jim Cousins, a Labour MP and member of the Treasury select committee which has investigated the high street banks, said: “Anyone who is a customer of Barclays will think the behaviour of these directors is a damn poor show. It is a real signal to Barclays customers to get out and find better deals elsewhere.

Barclays recently described the competitive pricing of some rival mortgages as “suicidal” and has stealthily hiked fees on its products. :ph34r:

HSBC broke ranks with the other high street banks in 2004 by offering simple “no-catch” mortgage deals, which promise not to charge hidden fees...

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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