Insight / Blog
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 […]
Agricultural Mortgage Corporation and Business Banking Resolution Service
We have been fighting AMC for several years on its fixed rate loans, with success unless it times a complaint out. Given that AMC wasn’t regulated until more recently, it has been really keen to point out that it can’t be touched by FCA or the Financial Ombudsman Service.So, we have asked BBRS to include […]
Lloyds Boss Horta-Osorio to Dodge Fraud Review Panel?
With chairman Horta-Osorio leaving Lloyds Bank next year, the question is whether he will coast to the final line, rather than putting his energy into the continued problem of the HBOS and Lloyds fraud. Whilst the Sir Ross review of the bank’s redress scheme reported “serious shortcomings” little appears to have been done to help […]