Interest rate swap mis-selling (also known as hedge agreements) to SMEs, OMBs and other individuals as part of business loan agreements has become big news.
Sold to protect businesses from interest rate increases and high repayments, unfortunately many high street banks failed to fully explain the risks involved. Little thought was given to what would happen if rates decreased and many customers were left with crippling monthly repayments and enormous early termination fees.
With tens of thousands of these complex financial products now estimated to have been sold by high street banks, at Linder Myers we can advise you on the strength of your interest rate swap claim and help you pursue compensation.
The FSA does provide a compensation scheme but the amount you can claim is limited and may not compensate you or your business for the losses caused by these products.
With most interest rate swap mis-selling taking place between 2005 and 2008 it is crucial to act soon as there is a six year limitation period on claims for mis-selling, with the start date likely to be the date you entered into the loan agreement.
At Linder Myers we offer:
- A bespoke case by case approach. Our solicitors expertly assess the merit and size of each claim.
- Expert legal support. We are not a claims management company. This is a highly specialised area and as such only those partners, solicitors and associates who appreciate the complexity of interest rate swap claims will work on your case.
- Transparent funding options to help you claim your money back. These options will be fully explained at the outset of your case in advance of any action being taken.
All of this means that by working with Linder Myers we maximise the likelihood of success and ensure the very best result possible for you.
At Linder Myers we have been approached by a number of clients to assist in the area of interest rate swap mis-selling, including but not limited to:
- Shop owners
- Bar and restaurant owners
- Care home owners
- Garden centre owners
You may be able to make an interest rate swap mis-selling claim, even if your business has gone into administration or liquidation. Our solicitors can liaise with your Insolvency trustees to decide on the right course of action, and provide legal assistance during a claims process should one take place.Have you got a claim? Start your claim