Commercial Loans

[old boy]

Have you heard about the misselling of commercial loans and mortgages through cross hedging

I got an email from the UK businesforums a while back and looked into this and looks great
let me know if you want details but basically if you took out a commercial loan or commercial mortgae between Jan 2001 and Dec 2009 there is a big probability it was used for cross-hedging which means you can claim back the interest paid!!

Not bad eh

I spoke to the solicitors to find out exactly what is going on and they have around an 80% success rate of enquiries. no fees upfront which is always music to my ears

So many of these things say we will do xyz and you have to pay £2k or similar.

be interested to hear of any other stories
Pm me for web details

OB

 

[ethical PR]

Sounds like one of the many firms who try and persuade those who may have been misold payment protection insurance on their loans to go through their firm (they take a hefty percentage) rather than applying directly to the FSA (it's quite easy and free).

If there is such a scheme for commercial mortgages, then just apply directly and you won't have to pay a third party a hefty fee for something you can easily do yourself.

By the way do you have a link to the FSA scheme you mention relating to compensation for mis-selling of commercial mortgages?

 

[old boy]

Yep there are a growing number or PPI related firms

I just went direct to solicitors and asked them what the score is !!

here are a couple of newspaper articles for people to give a glane ce view

http://www.telegraph.co.uk/finance/...pensation-process-for-mis-sold-customers.html
http://www.telegraph.co.uk/finance/...tims-could-get-compensation-within-weeks.html

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[businessfunding]

Great A bit of bank misselling and whole missold industry appears to leach off it