New UK bank scandal brewing over interest-swap disaster: Special report

When businessman Colin Jones approached his local bank for a loan in 2007, he had little idea what an “interest rate swap” was, let alone a “structured collar”.

Jones wanted 400,000 pounds ($630,000) to buy a small hotel in North Wales and Royal Bank of Scotland said he could have the money if he also took out a swap – a form of insurance designed to protect him from a rise in interest rates….

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If you are a small to medium, size business that has been mis-sold a business loan with a swap interest rate product please do not hesitate to CONTACT US to see if you have a claim for compensation.

We possess an excellent track record of acting for bank customers in recovering compensation in many legal issues from contract disputes to financial mis-selling of insurance products and services. For further information on these business swap loans please contact us for free initial advice, further reading visit business interest rate swap loan mis-selling.

If you have taken out a business loan and was advised to take out a product alongside the business loan that was supposed to protect you against the rise of bank loan interest rates, you may have a claim for business loan mis-selling.

After a review of the mis-selling of business loans or swap loans, the FSA found that when properly sold, in the right circumstances to the right customers, these products can protect customers against the risk of interest rate changes. However, when sold to ‘non-sophisticated’ customers, likely to be smaller business which wouldn’t necessarily have specific expertise and understanding in this area, some products may not have been appropriate for their needs.

If you are a small to medium size business that has been sold a RBS business loan with a swap interest rate product pleasecontact usto see if you have a claim for mis-sold interest rate swap compensation.

Further Reading

Bank Mis-selling claims

Swap Loans

How Swaps are Sold

Swap Loans In The News

Caravan Park Swap Loans

IRSA business loan insurance mis-selling

Business Swap Loans

Swap Loans, No Win, No Fee

Swap Loans Blog

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