We possess an excellent track record of acting for Claimants in recovering compensation in many legal issues from contract disputes to financial mis-selling of insurance products and services. The FSA (The Financial Services Authority) has looked into the mis-selling of business interest rate swaps and considered that there may be a claim for compensation.
The type of personal and business interest rate loan mis-selling are listed below, taken from the FSA web site:
- swaps – which enables the customer to ‘fix’ their interest rate
- caps – places a cap on any interest rate rise
- collars – enables the customer to cap interest rate rises by limiting rate fluctuations to within a simple range
- structured collars – enables the customer to cap interest rate rises by limiting rate fluctuations to within a range (with a lower ceiling than a simple collar) but involves more complex arrangements if base rate falls below floor limit.
If you are an individual or small to medium size business that has been sold a loan with a swap interest rate product please contact us to see if you have a claim for compensation.
