Commercial & Business PPI Claims
Fixed Rate Business Loan FAQs
Q:What is a Fixed Rate Business Loan?
A Fixed Rate Business Loan is a commercial loan which has previously been offered by many high street banks such as Lloyds, NatWest, Halifax, Bank of Scotland and HSBC. Fixed Rate Business Loans were typically structured in a way to provide protection for the business from increases in interest rates by fixing the rate of interest payable on the loan for a certain period of time. This type of loan agreement also contained hidden derivatives that made the commercial loan much more of a complex undertaking, which many businesses did not understand. This feature and risk was not always properly explained by the bank and in some cases, cost businesses large sums of money.
Q:How Can I Tell If I Have a Fixed Rate Business Loan?
If your business took out a business loan from high street banks such as the Royal Bank of Scotland, Lloyds Bank, HSBC, Barclays, Santander, Clydesdale Bank, Yorkshire Bank, Halifax, Bank of Scotland, Nationwide or West Bromwich between 2001 and 2013, then there is a strong possibility that you may have been mis-sold a Fixed Rate Business Loan. To check if you have been mis-sold PPI, you can look at the original loan documentation. It should clearly state “Fixed Rate Loan” on the front page of the facility agreement. If you think you might have been mis-sold PPI, please contact our team of professionals who can confirm if you have an eligible case.
Q:How Many Fixed Rate Loans Were Sold by Banks?
It is estimated that there have been 60,000 Fixed Rate Business Loans sold by UK banks since 2001. Fixed Rate Loans were also sometimes referred to as Tailored Business Loans, Treasury Loans and Sterling Fixed Rate Loans.
Q:How Can I Find Out More About the Problem of Fixed Rate Loans?
There are a number of ways to find out more about Fixed Rate Business Loans. We would recommend contacting our team of professionals for more information. Alternatively, you can also find free information on the Professional Financial Claims Association website.
Q:Can I Claim if My Fixed Rate Loan Has Expired?
Yes, it is still possible to claim against the mis-selling of the Fixed Rate Business Loan, even if the product/ policy has expired. If your claim is successful, you will receive financial redress. For more information relating to Fixed Rate Business Loans, feel free to contact our team of professionals.
Q:What Do I Do Next if I Think I Have a Claim?
If you think you have been mis-sold PPI after taking out a commercial or business loan between 2001 and 2013, please call our specialists who will be able to let you know within just a few minutes if you have an eligible claim. Freephone 0800 083 0268
Call allSquare today on 0800 083 0286 to discuss a potential claim with one of our banking specialists.
Alternatively, email firstname.lastname@example.org and someone from our team will contact you.
We offer a strict No Win No Fee† claims service. You do not pay a penny unless we are successful with your claim.
† Fee may be payable if case is not pursued at client’s request.