A chance meeting at a corporate event I was at may lead to a windfall, and the fact I am part of a scandal could mean that swap mis selling could have its up side and I may get some money back.
I went to the function which was a cracking event in aid of a local children’s hospital after being invited by a client at the last minute. I was not going to go as it was short notice but as I had not been out of rages and the client was one of my biggest I decided to go. I am now really glad I did as on our table was a chap who specialised in the mis selling of financial products including business loans and mortgages.
We got chatting as we were sat next to each other and as you do we explained what we did for a living. He explained what he did and some of the stuff that was going on in his business at the time and it got onto to a swap mis selling case that he had just won for a client. The care home that he was representing had a torrid tale to tell but this story had a happy ending as they won back over a million pounds from the bank due to the mis selling of the financial products the bank had embedded into the loans they took out in 2005.
Could I be involved in the swap mis selling scandal
I mentioned that my old recruitment agency had loans and a business mortgage on a property we bought and he offered to meet up with me the following ween to have a look if I was effected. He discussed the banks widespread use of these swaps to protect against interest rate rises and to be frank I vaguely remembered the term being mentioned briefly in a bank meeting I had around ten years ago.
I only vaguely remember being confused about it at the time but the bank official being really vague about it and moving on to other things pretty quickly. At the time I did not give it a great deal of thought as it was one of the conditions of the loan agreement and we needed to take out the loan to grow the business.
My story had all the swap mis selling red flags
We were at dinner and we didn’t go to far into this but what he did know that my story was fairly typical of a standard mis selling case in his mind. The FCA had got involved to investigate this issue and found that a huge percentage of companies that had a swap were in fact mis sold the product or completely unaware they had it.
I met up last week with the team who will as it turns out take on my swap mis selling case and it looks like I have a good solid claim against the bank which could run into a significant sum of money coming back to me. http://www.triumphlegal.co.uk