Tag Archives: Interest Rate Swap

Interest Rate Swap Claims – The Dangers Of Sitting Back Landlord News, Latest Articles

I have been asked what the dangers or pitfalls for businesses and clients would be in merely sitting back and waiting for the Banks to sort out the issues surrounding interest rate hedging products (IRHPs). The Banks have split down IRHP into three categories of the likelihood of mis sell. In essence, Category A are the most complex structured collars and collars; Category B are swaps; and Category C are caps.

For Category A products the Bank will contact the affected parties and will review their product for them. For Category B products the Banks will contact the affected parties but will only review the product if a complaint is lodged or request made to review the IRHP. For Category C products the Banks will only review the IRHP if the affected party contacts the Banks in the first instance.

The risks for Category B and C IRHPs are therefore that unless you make contact with the Banks and lodge an appropriate letter of complaint or request for review then you may not be offered any redress or compensation at all.

For all products there is the risk that the offer of redress and compensation is merely fair and reasonable and not however a true reflection of the parties actual losses. Any redress offered by the Banks should be fair and reasonable and put the customer back in the position they would have been in had they not been mis-sold the IRHP. The FCA Review process does not necessarily provide legal redress rather regulatory redress which may provide less compensation than available at law. The redress in the FCA Review may not be as comprehensive and fair as legal redress via the Courts which is designed to put parties into the position that would today exist as if an IHRP had never been entered into.

There is a concern that even where the Review finds the IRHP has been mis-sold, the redress offered may be substantially less than the customer would be entitled to through the Courts. The Banks may argue that reasonable redress would be to switch the customer to a more appropriate IRHP. The customer would still then be tied into an IRHP they potentially did not require at all, rather than being put into the position they would have been had they not been mis-sold an IRHP.

We have experience and expertise of the financial, banking and legal process and as truly independent experts, if you have any questions or concerns regarding the FCA Review process or IRHPs then we are more than happy to answer any questions you may have, advise whether you have a claim, what would be the best course of action to take and what would be an appropriate “fair and reasonable” offer of redress.

For any questions please see my Ask Me Anything article – Interest Rate Swap claims CLICK HERE Daniel Fallows - claims advice on mis-sold Interest Rate Swaps and other Interest rate Hedging Products IRHP's

Your claim starts HERE

If you feel you have been mis-sold an interest rate swap or another form of interest rate hedging product please complete this form to arrange a no obligation assessment of your claim

Interest Rate Swap Claims – Ask Me Anything Ask Me Anything, Latest Articles

Have you have been sold Interest Rate Swap Agreement “IRSA” or other forms of Interest Rate Hedging Products “IRHP’s” by your bank?

Daniel Fallows - claims advice on mis-sold Interest Rate Swaps and other Interest rate Hedging Products IRHP's

If you have lost out or continue to lose out financially you may well be in a position to to make a “no-win no-fee” claim for compensation.

My name is Daniel Fallows, I’m a corporate lawyer at Seneca Banking Consultants and I invite you to “Ask Me Anything” relating to the mis-selling of interest rate swap agreements “IRSA’s” and other interest rate hedging products “IRHP’s”. Continue reading Interest Rate Swap Claims – Ask Me Anything


The mis-selling of IRHP – interest rate hedging products Landlord News, Latest Articles, Property News

Bully BanksThe space for advice in the mis-selling of Interest Rate Hedging Products (IRHP’s) is becoming increasingly busy. A quick Google search of ‘IRHP’ is enough to start your head spinning.

Also known as IRSA’s, (Interest Rate Swap Agreements) these were financial products sold by banks to provide protection to businesses from interest rate increases.

Bully-Banks was created to co-ordinate complaints by the owners of small and medium sized business against the conduct of Banks when mis-selling Interest Rate Swap Agreements (“IRSAs”).

The reality is that case law is yet to set a precedent for a mis-sold IRHP and every case is different. It is reported that many cases started on don’t actually reach court; they are simply settled with a gagging order on the court steps. Bad PR is a thing to avoid for banks.

Continue reading The mis-selling of IRHP – interest rate hedging products


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