Did you understand your interest rate swap? UPDATE

Ben Jenkins of HardingEvans has written about the subject of banks’ mis-selling Interest Rate Hedging Products (“IRHPs”) for this newsletter,and elsewhere, many times. IRHPs are often complex and difficult to understand.The banks on many occasions were not doing enough to explain the risks of IRHPs to businesses. If interest rates increased, a business could be protected by its IRHPs.

However, if interest rates fell, then a business could have to make up any shortfall, which could be a significant sum and could therefore cause a business significant financial hardship. We are pleased to report that we have successfully recovered hundreds of thousands of pounds in compensation each for a number of commercial clients from various banks in the last few months alone, with one recent success for Mr Sonny Bamrah, the owner of several care homes in South Wales.

Mr Sonny Bamrah, Director of Broadway Care Centre Limited – “I have used HardingEvans for over 10 years. They provide me with expert guidance and advice in many areas of law. I recently instructed Ben Jenkins in relation to a claim against my former bank for mis-selling one of my companies two different Interest Rate Hedging Products. I was delighted with the service I received from Ben. He is brilliant, not just as a person, but as a professional too. This is a complex area of law, but the advice given to me was simple and understandable. Ben attended my meeting with the bank’s representative, dealt with the matter efficiently from start to finish and achieved an excellent result for my company. He thinks of angles I would never have thought of. I would not hesitate to recommend Ben and HardingEvans to anyone. They are professional and caring.”

We here at HardingEvans can help you obtain the compensation you deserve. There are strict time limits imposed on making this kind of claim so do not delay!

Contact Ben Jenkins, Associate Solicitor 01633 244233 or email jenkinsb@hevans.com