tag:blogger.com,1999:blog-3164893117524790529.post2874086284536901660..comments2023-10-04T09:32:07.906+01:00Comments on Ripped-off Britons: Interest Rates Swaps being mis-sold to SMEs: a layman's guide to a textbook banking rip-offHarihttp://www.blogger.com/profile/01237772240419048407noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-3164893117524790529.post-70199639247780085052016-02-16T19:13:00.039+00:002016-02-16T19:13:00.039+00:00Great article.
Whilst I know about the underlying...Great article.<br /><br />Whilst I know about the underlying instruments, I was unaware how these structured rate products are being sold to people who don't need them. It's usually enough trouble to decide whether to borrow fixed or floating. I am especially concerned how sales staff are being incentivised to sell these products. This comes up time and time again. No doubt it was 'Money Questioner (Adrian)http://moneyquestioner.co.uknoreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-73304536534342482842013-05-28T09:16:06.549+01:002013-05-28T09:16:06.549+01:00Ditto. in admin due to this, employees as you turn...Ditto. in admin due to this, employees as you turnover as you but sophisticated. Joke!Barclays too. exact same storyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-76459697294666152702013-01-27T19:07:43.099+00:002013-01-27T19:07:43.099+00:00Cogent and straightforward. Quite how an SME would...Cogent and straightforward. Quite how an SME would 'need' one of these products is impossible to explain. AbogadoNZhttps://www.blogger.com/profile/07448369491881106283noreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-783998330236148552012-11-22T07:27:43.269+00:002012-11-22T07:27:43.269+00:00The mis-selling of interest rate swap products by ...The mis-selling of interest rate swap products by the UK banks has caused significant losses to many businesses and it is possible to claim compensation.<br />Visit us for get all information about <a href="http://roguebanks.co.uk" rel="nofollow">interest rate swap mis selling</a><br /><a href="http://roguebanks.co.uk/" rel="nofollow">IRSA Mis Selling</a>Interest Rate Swap Mis Sellinghttps://www.blogger.com/profile/12704340127434206012noreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-29956247523221329832012-11-19T14:42:58.129+00:002012-11-19T14:42:58.129+00:00Great article! This is yet another massive banking...Great article! This is yet another massive banking scandal, but it doesn't seem to be getting anywhere near as much coverage as PPI. <br /><br />It is a lot more complex, but more people need to be aware of it. <br /><br />I came across a graphic that similar to this graphic explains it in simple, easy to understand terms...it's worth a look:<br /><br />http://Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-16415188309571890582012-06-23T23:46:15.144+01:002012-06-23T23:46:15.144+01:00I have read this article with great interest.
We ...I have read this article with great interest.<br /><br />We are a SME with at the time of entering into the swap over 120 employees and a multi million pound turnover. <br /><br />We switched banks after long negotiations with Barclays and on the face of it looked to be gaining better pricing and additional facilities...at the very last stage, they slipped in the condition of the swap agreement, Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-50815330353201065952012-06-23T10:06:38.691+01:002012-06-23T10:06:38.691+01:00Debate on misselling of interest rate swaps to sma...Debate on misselling of interest rate swaps to small businesses held in Parliament on 21/6. Watch the video, and read the transcript. More information here, as MPs are covered by Parliamentary Privilege and can say what they want:<br /><br />http://www.parliament.uk/business/committees/committees-a-z/commons-select/backbench-business-committee/news/Jakehttps://www.blogger.com/profile/07932284075209333976noreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-5316965039708193322012-06-10T15:30:39.245+01:002012-06-10T15:30:39.245+01:00The Radio 4 broadcast is also available to downloa...The Radio 4 broadcast is also available to download via the following URL:<br /><br />http://lexlaw.co.uk/Interest-Rate-Swap-Misselling-r4report03052012-LEXLAW-Solicitors.mp3LEXLAWhttp://lexlaw.co.uk/interest-rate-swap-mis-selling-solicitors-hedging-lawyers.phpnoreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-90168268588810717482012-05-07T12:55:45.020+01:002012-05-07T12:55:45.020+01:00If you've been ripped off by a cap and collar ...If you've been ripped off by a cap and collar load or ISRA, tread warily towards litigation. There are many poachers-turned-gamekeepers - former IRSA salesmen - out there offering their 'advice' via claims management companies. These same people may become involved in cases as witnesses for the banks, creating a clear conflict of interest if you hire them for your matter. <br />One Alistair Mitchellhttp://www.foregatechambers.co.uknoreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-50562911056014523742012-05-05T16:14:12.890+01:002012-05-05T16:14:12.890+01:00If your bank didn't offer you a Cap - there ar...If your bank didn't offer you a Cap - there are serious questions by them to be answered by them. They must act in the client's best interest. When dealing with the banks make sure you keep detailed notes and copies of all correspondence - we hear that many are finding this level of detail useful when it comes to challenging the banks.Honestly Bankinghttp://www.honestlybanking.co.uknoreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-16726971932880327212012-05-05T14:22:09.801+01:002012-05-05T14:22:09.801+01:00Excellent Radio4 programme on this scam available ...Excellent Radio4 programme on this scam available here - <br /><br />http://www.bbc.co.uk/iplayer/episode/b01gvtjg/The_Report_Interest_Rate_Swaps/Jakehttps://www.blogger.com/profile/07932284075209333976noreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-85929722477226261162012-05-05T14:05:56.933+01:002012-05-05T14:05:56.933+01:00Barclays never even offered me the option of a Cap...Barclays never even offered me the option of a Cap, Just 4 different SWAPS, I understand why now!!!! They never told me it would cost 25% of the initial amount to get out either. I hope we all issue a class action against the banks because it's obvious we will win this one. It's modern day highway robbery.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3164893117524790529.post-17711557692258002952012-05-04T07:20:15.864+01:002012-05-04T07:20:15.864+01:00Fantastic article - the best explanation of swaps ...Fantastic article - the best explanation of swaps I've come across. Your point about why the banks didn't just sell an interest rate cap hits the nail squarely on the head.Anonymousnoreply@blogger.com