Mis Sold Interest Rate Review – What if I am categorised as “Sophisticated” by my Bank?
Author: Daniel Fallows
26th July 2013, 13 years ago | 0
Daniel Fallows
Is my Fixed or Variable loan an Interest Rate Hedging Product?
Author: Daniel Fallows
19th July 2013, 13 years ago | 1
Interest Rate Swap Claims – The Dangers Of Sitting Back
Author: Daniel Fallows
11th July 2013, 13 years ago | 1
Interest Rate Swap Claims – Ask Me Anything
Author: Daniel Fallows
24th June 2013, 13 years ago | 39
Daniel Fallows
Registered with Property118.com
19th June 2013
Total Posts
4
Total Comments
20
11th July 2013, 13 years ago
please read my new thread, you may find it useful Interest Rate Swap Claims – The Dangers Of Sitting Back https://www.property118.com/interest-rate-swap-claims-the-dangers-of-sitting-back/41474/ Daniel
Read More →5th July 2013, 13 years ago
@BB Member We advise all our clients that it is prudent to prepare written responses for the purpose of the FSA Review fact find rather than the person who entered into the swap trades being subjected to a one sided...
Read More →5th July 2013, 13 years ago
@Simon The Banks have appointed independent reviewers who may be present during the fact find meetings or calls. The independent reviewer is there to ensure that the outcome of the Review is fair and reasonable. The independent reviewer will not...
Read More →5th July 2013, 13 years ago
@Chris, unfortunately we are unable to comment as to what the Banks have been doing in preparation of their internal reviews. Where a fact find meeting takes place with the client that is normally in the presence of an independent...
Read More →5th July 2013, 13 years ago
Excellent question Tom. This is question a lot of our clients have been asking. If the Banks mis sold the interested rate hedging products in the first place can we trust that they will review them fairly and that any...
Read More →2nd July 2013, 13 years ago
What do you think of this article? please comment and ask questions relating to your own circumstances Firms as small as bed and breakfasts and takeaway shops were left with major bills after buying the complex financial products linked to...
Read More →27th June 2013, 13 years ago
interest rate swap agreements (IRSA’s) and interest rate hedging products (IRHP’s) were potentially sold alongside any loan, debt or mortgage facility. It is possible that an IRSA or IRHP was sold alongside a buy to let (BTL) mortgage regardless of...
Read More →27th June 2013, 13 years ago
@David Hands “The calculations of both direct losses (i.e additional interest payments made to the Bank and potential break costs) and consequential losses (i.e loss of opportunity, cost of additional finance) can be complex and highly fact sensitive. We would...
Read More →27th June 2013, 13 years ago
Answers to popular questions from people who have completed the enquiry forms Why are businesses not coming forward to claim redress on mis-sold Interest Rate Hedging Products? I have been working at the forefront of the industry since the start...
Read More →26th June 2013, 13 years ago
How would a care home (old people residential home) look into this?
Read More →26th June 2013, 13 years ago
@Neil Thanks Neil, if you have any more questions feel free to ask away
Read More →26th June 2013, 13 years ago
@Neil Interest rate hedging products, in the form of caps, floors, collars and swaps to name but a few, have been sold by Banks to a number of clients on the basis that they would provide certainty over the interest...
Read More →26th June 2013, 13 years ago
@GP The behaviour of the Banks in recent years has been well documented and in many cases well below the standards expected of the profession. The FCA Review process came about as a result of the numerous breaches of conduct...
Read More →26th June 2013, 13 years ago
How might taking an IRSA have affected you and your business? The ways in which an IRSA might have negatively impacted upon your business and you personally are numerous and varied. Typically, an IRSA would result in being paid to...
Read More →25th June 2013, 13 years ago
@Simon Where a claimant is unsuccessful under the Review process they may still be able to claim through the Banks internal complaints procedure of the Financial Ombudsman (FOS) prior to litigation. Litigation will always remain an option where the claim...
Read More →25th June 2013, 13 years ago
@Mark Great Minds lol
Read More →25th June 2013, 13 years ago
@Mark Yes it did get a bit technical but I am happy to answer any questions from experts in the subject or anyone who has been affected, no comment or question is too small just ask away. Have a nice...
Read More →25th June 2013, 13 years ago
Hi Simon There have been some reported offers of redress under the initial review carried out by the FCA however the numbers are at present modest. The Banks appear to be moving slowly on reviewing files and subsequently their offers...
Read More →25th June 2013, 13 years ago
@Mark sorry for the late reply see comments below 1) Is Seneca Banking Consultants underwriting the cases you take on? Seneca Banking Consultants are a Ministry of Justice regulated claims Management Company. We have the expertise both financially and legally...
Read More →24th June 2013, 13 years ago
@Jon Whilst the non-disclosure of the interest rate hedging product liabilities, including mark to market break costs, contingent liabilities and day one profit are often clear breaches of the COB and COBS regulations they are often not the only breaches....
Read More →