Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 4 weeks ago 47
Has anyone else heard about a group of small companies that are preparing a legal battle against West Brom for wrongly raising interest rates in the aftermath of the credit crunch? It would appear they cited “a market disruption clause” as the reason to lift rates that should have tracked the LIBOR rate. Their solicitors say they have councils opinion that this can be challenged on a number of grounds.
It all sounds very similar to what they did to thousands of Buy to Let investors.
Just in case you’ve not heard, the case management hearing for the case brought against West Bromwich Mortgage Company by Property118 members will be held in the Commercial Court, 7 Rolls Buildings, London EC4A 1NL on Friday 17th October 2014. Time TBC but likely to be 10am or 10:30am
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