Skip to content

Barclays Hit By Solar Scandal

|
Emily Gosden, The Times

Some buyers were misled into thinking rooftop panels would ‘pay for themselves’

Barclays Bank has become embroiled in a fresh mis-selling scandal after the ombudsman found evidence that some households were misled into taking out loans to put solar panels on their roof.

The Financial Ombudsman Service said it had seen a significant increase in complaints from households who were typically told the panels would “pay for themselves” and could cut their bills.

In fact, households often found that the loan repayments exceeded the income and savings they made from the panels and some were left thousands of pounds worse off as a result.

The ombudsman said that it had received about 2,000 complaints in the past year and that its investigations had found “evidence of pressure sales techniques, and misleading sales literature or representations by the salesperson”.

Full story