Solicitors for Business

Mis-sold interest rate swap claims

Many small and medium sized businesses have been mis-sold interest-rate hedging products. These products were sold, alongside loans to purportedly protect businesses from fluctuations in interest rates which could effect their loan repayments.

The FCA has found that major retail banks, including Barclays, HSBC, Lloyds and RBS, had poor sales methods. They did not fully inform businesses as to the benefits and risks of the products, assess if the products were suitable for the business' circumstances, advising on products when they were not authorised to and financially rewarding employees for selling the products which may have skewed their judgment.

Who’s help to I need with my claim?

This is the first question facing many people when they realise that they have been mis-sold an interest rate hedging products. It’s a complicated picture and there are many people saying that they are best placed to help. The space is inhabited by Accountants, Solicitors, Banking Consultants and Hedging experts so it is a complicated picture!

It could be that in order to bring a claim to finality a hedging expert will be required. It is almost certain that an accountants report will be needed at some time too. But that being said, at its heart this is a legal issue and whether the route to a fair result is by way of the FCA scheme or Litigation, the people that you want handling your case are solicitors with the relevant experience, like us. We can call on the other disciplines as and where needed to assist with your claim. Where suitable we work with clients existing accountants on consequential loss claims since they are often best placed to help.

Why use McHale & Co?

We are experts in suing banks are regarding as a leader in financial mis-selling litigation, having recently won an action against a major bank in the Supreme Court. The FCA scheme clearly states that the principles applied to the process are legal principles and that in relation to compensation levels they will be assessed in accordance with the legal test of tort and breach of statutory duty. It’s clear that the law is at the heart of the scheme and so we are quite content to say that we are the best placed people to help victims of this banking scandal.

There are a number of funding options available to those wishing to start a claim, all of which can be discussed with us in detail over the phone or inperson. Whatever your situation, we will find a funding arrangement to suit you. We do a lot of work on “a no win – no fee” basis

To discuss your loan and interest rate swap product, simply call us on 0161 928 3848 or complete the form here. We have offices in Altrincham, Manchester City Centre and in North Manchester with easy access for client's across the North of England. We also travel to London on a weekly basis to meet clients in this area.

Related Case Studies

August 18th
Many consumers who have been mis-sold hedging products previously thought that they could not make a claim because they were out of time.
August 13th
We were instructed by a Chinese restaurant, who was sold an Interest Rate Hedging Product by one of the four major banks.