United Kingdom

Deadline to register banking disputes

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Small and medium letting agencies with unresolved historic banking disputes have six months to register them with the Business Banking Resolution Service (BBRS).

The BBRS is an independent not-for-profit service that resolves current and historic banking complaints by small and medium businesses against seven participating banking groups. Their Historical Scheme covers complaints first registered between 1 December 2001 and 31 March 2019 by businesses with a turnover of between £1m and £6.5m at the time the dispute was registered. The BBRS has the power to make both financial and non-financial awards when complaints are upheld.

However, the scheme will soon close to new entrants. Companies with eligible unresolved disputes must apply by 14 February 2023 to have them considered. 

The BBRS’s Contemporary Scheme, which covers complaints relating to incidents that took place on or after 1 April 2019, will remain open. As of August 2022, it does not have a set closing date.

If you have a banking complaint and want to see if the BBRS can help resolve it, use their online eligibility tool.

Other finance news

Leeds Building Society withdraws from new lending on second homes – iNews

Buy-to-let mortgage rates: is it just a correction? – BuyAssociation

UK house prices drop for first time this year, says Rightmove – The Guardian 

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