Insight / Blog
BBRS and Covid-Related Business Loans
Recent reports suggest that as many as 10% of the government’s business support loans have ended up in the hands of criminals, not the intended borrowers. At the same time, there are reports that applications for business support loans in particular, took too long, and that many firms were incorrectly told they weren’t eligible for […]
Financial Ombudsman Service and Business Banking Resolution Service Eligibility
In yesterday’s Times newspaper, journalist James Hurley contributed an article that helpfully shone a light on problems being faced by small and medium sized enterprises that want to bring a formal complaint against their bank. Prior to changes that came into effect earlier this year, the Financial Ombudsman Service eligibility criteria was that only “micro-enterprises” […]
Something really needs to be done about Agricultural Mortgage Corporation – Farmers are trapped by its lending practices
We recently looked at a case where a farming partnership entered a 25-year fixed rate loan with Agricultural Mortgage Corporation (AMC) 10 years ago. The fixed interest rate being charged is between 5% and 6%. The loan was for the approximate amount of £1,000,000 and it was interest only. With 15 years left to go, […]
Win on Fixed Rate Loan with Lloyds
Many fixed rate loans were sold negligently by the banks, and a standard response from the banks has been that they “could have done more” to explain the existence of breakage costs on these fixed rate loans. Breakage costs can be as much as 60% of the fixed rate loan itself. We received a recent […]