Thursday 17 October 2013

Thursday, October 17, 2013 Posted by Jake 2 comments Labels: , , ,
Posted by Jake on Thursday, October 17, 2013 with 2 comments | Labels: , , ,

Channel4 News report:

"Small businesses have told Channel 4 News that when their property assets were seized by RBS they were sold off at auction to another arm of the business called West Register.

The bank has sold properties belonging to debtors at below-market value after suddenly withdrawing credit.

Property developer Chris Kashourides had a building in north London sold off for just £415,000 when the bank unexpectedly gave him seven days to pay off his overdraft in 2010.

Four months later the property was resold on the open market for more than £1 million. Mr Kashourides was forced to sell 25 more of his properties at reduced prices thanks to pressure from the lender."


  1. The Guardian reports:

    " GRG has been the focus of allegations – notably by Lawrence Tomlinson, an adviser to the business secretary, Vince Cable – that it forces viable small businesses to the brink so that the bank can buy up their properties and make a profit.

    When the two executives gave evidence in June they denied GRG was run as a profit centre, but in his letter Sullivan admitted that on an accounting basis the operation was run this way.

    This prompted an angry reaction from Tyrie, a Conservative MP. "RBS has now offered the committee what it euphemistically describes as 'additional comments'," he said. "In fact, they have done a belated U-turn. It's not as if the facts have changed. So it now appears that RBS has been wilfully obtuse with the committee.

    "If this is how RBS deals with a parliamentary committee, how much can customers and regulators rely on it to be straightforward with them?" "

  2. his is also happening to householders across Britain.. I recently attended a gentlemans non eviction in Nottingham. 26 years ago Tom took out an endowment mortgage with Bradford and Bingley for £41,800 which he paid on time for 25 yrs. 12 years ago he received a letter saying his mortgage had been changed to part interest and part capital. he contacted his account manager and after much discussion was told not to worry and later he received a bottle of champaign and a bouquet of flowers. 2 years ago whilst in hospital his wife recieved a letter saying the mortgage would never be paid.. Consequently on 23rd of July he was due to be evicted. He has never been to court and is still fighting to be heard in high court. He made a shot video that his daughter posted on facebook asking for supporters to stand with him. He expected about 20 people. On July 23rd 350 strangers turned up to help block this miscarriage of Justice. There is too much info to type on here but the full story cn be found on you tube Tom Crawford. It was like a miracle to be there that day. The love of all these supporters was amazing. It ha ben reported as a mob , also as a Demonstration. It was non of these. Please view the videos on you Tube. Any further info please feel free to contact me via E.Mail on on facebook as Wendy Hirst. Thankyou


Note: only a member of this blog may post a comment.

Share This

Follow Us

  • Subscribe via Email

Search Us