Barclays is to stump up millions of pounds for people who claim they were mis-sold loans for timeshares.

It said it ‘did not provide the right level of service’ after customers said they were fleeced by salesmen employing high-pressure tactics.

Barclays has agreed to repay all interest on the 1,482 loans and will cancel further interest payments. It did not say how much the repayments cost, but the loans are worth £48million.

Hard sell: British holidaymakers in Malta (pictured) say they were ‘railroaded’ into taking on Barclays loans by staff at Azure Services

Hard sell: British holidaymakers in Malta (pictured) say they were ‘railroaded’ into taking on Barclays loans by staff at Azure Services

Hard sell: British holidaymakers in Malta (pictured) say they were ‘railroaded’ into taking on Barclays loans by staff at Azure Services

British holidaymakers in Malta say they were ‘railroaded’ into taking on Barclays loans by staff at Azure Services, which had a sister firm, Azure Resorts, that partnered with Barclays Partner Finance.

Victoria Ibrahimova, 46, and John Dilcock, 67, of Surrey, were assured by an Azure Services salesman who mentioned the Barclays link that the home would rise in value. 

Dilcock said: ‘The loan was approved in minutes.’

Barclays said: ‘Between April 2014 and April 2016 we did not provide the right level of service for some customers who bought timeshare loans via Azure Services. We ended our relationship with Azure in 2018.’

#fiveDealsWidget .dealItemTitle#mobile {display:none} #fiveDealsWidget {display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px} #fiveDealsWidget div, #fiveDealsWidget a {margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif} #fiveDealsWidget .widgetTitleBox {display:block; float:left; width:100%; background-color:#af1e1e; } #fiveDealsWidget .widgetTitle {color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; } #fiveDealsWidget a.dealItem {float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;} #fiveDealsWidget a.dealItem#last {margin-right:0} #fiveDealsWidget .dealItemTitle {display:block; margin:10px 5px; color:#000; font-weight:bold} #fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img {float:left; display:block; margin:0; padding:0} #fiveDealsWidget .dealItemImage {border:1px solid #ccc} #fiveDealsWidget .dealItemImage img {width:100%; height:auto} #fiveDealsWidget .dealItemdesc {float:left; display:block; color:#004db3; font-weight:bold; margin:5px;} #fiveDealsWidget .dealItemRate {float:left; display:block; color:#000; margin:5px} #fiveDealsWidget .footerText a:hover{text-decoration: underline;} #fiveDealsWidget .footerSmall{font-size:10px; padding-top:10px;} @media (max-width: 635px) { #fiveDealsWidget a.dealItem {width:19%; margin-right:1%} #fiveDealsWidget a.dealItem#last {width:20%} } @media (max-width: 560px) { #fiveDealsWidget #desktop {display:none;} #fiveDealsWidget #mobile {display:block!important} #fiveDealsWidget a.dealItem {background-color: #fff; height:auto; min-height:auto} #fiveDealsWidget a.dealItem {border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px} #fiveDealsWidget a.dealItem#last {border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px} #fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last {width:100%} #fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage {float:left; display:inline-block} #fiveDealsWidget .dealItemImage {width:35%; margin-right:1%} #fiveDealsWidget .dealItemContent {width:63%} #fiveDealsWidget .dealItemTitle {margin: 0px 5px 5px; font-size:16px} #fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate {clear:both} }

This post first appeared on Dailymail.co.uk

You May Also Like

Shoppers go wild over ‘lovely’ new Mr Kipling treat they ‘need to try’ inspired by Battenberg

TESCO shoppers are going wild over a new Mr Kipling treat that…

Pothole breakdowns hit a five-year high as September sees almost 50,000 drivers thwarted by cratered roads

Almost 50,000 AA members had to contact the breakdown provider last month…

Coinbase apologises for letting down users over frozen funds

The most popular cryptocurrency platform for Britons has finally publicly addressed problems…

What’s going to happen to house prices in 2024? Six property experts go head-to-head

When it comes to house prices, the direction of travel has been…