Interest Rates Swap
Financial advisers, brokers and banks are obliged to provide sound business advice, but where this falls short you may be entitled to make a compensation claim. Approximately 40,000 small to medium sized businesses are believed to have been mis-sold loans since 2001. This means that they were required to enter into an interest rates swap as a condition of being offered their loan from the bank. If you believe you may be one of them then our experienced team of financial experts can provide the professional advice and support you need to make a claim.
What is an interest rates swap?
Where a small to medium sized business has entered into an interest rate swap agreement (IRSA) as a condition of being offered a loan from their bank. While this agreement was designed to protect businesses in the event of rises in interest rates, many have encountered financial difficulties after struggling to keep up with the required repayments and faced exit costs when wanting to escape the terms of the loan.
How do I know if I have been mis-led with an interest rates swap?
• If you have entered into a business loan that required you to enter into an interest rates swap
• If you were offered protection on your loan from rises in interest rates
Interest rate swap agreements are complex. If you are unsure whether the above applies to you, our team of professionals has a wealth of knowledge and experience in advising and supporting businesses with their compensation claims. For professional advice please contact our team on 0800 988 0777.