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Barclays settles fraud claim against Savills PF and others

Barclays Private Clients International and Barclays Bank have settled a high court claim in which they were seeking up to £12.7m in damages for an alleged mortgage fraud.

Barclays was suing mortgage brokerage Savills Private Finance and chartered surveyor Stocker & Roberts Partnership for losses from an alleged mortgage fraud.

It was also suing solicitor Montague Lambert & Co for alleged negligence.

A hearing was held on January 25 and a trial was set to take place on June 20 and last until the end of July.

However, at the 11th hour, Barclays has come to a confidential agreement with the parties involved.

The alleged fraud related to a number of mortgages for properties between 2006 and 2007.

A spokeswoman for Barclays says: “The parties have settled the claims. The terms of the settlement are confidential.”

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  • john 27th June 2012 at 2:07 pm

    Surely there is a public need for details on this, a bank suing an IFA, are the FSA involved, will SPF be closed down? If i was an SPF client i would be worried as to what they had been up to?