Thousands of businesses have been mis-sold interest rate protection products (Swaps, Caps & Collars) on top of debt facilities by Banks. These products which were hugely profitable for Banks were sold to businesses on the presumption that interest rates would rise and these hedging products would provide protection.
All the major High Street Banks have signed up to a compensation scheme demanded by the Financial Services Authority where their customers were not adequately advised on the risks of the hedge and potentially huge break costs that would be payable if the business wanted to exit the hedge.
If you think your business is affected, we can put you in touch with a highly specialist team ready to help assess and build your claim, and deal directly with the Bank and negotiate redress.
Please contact Peter Taaffe