Property businesses are able to claim back millions in mis-sold business loans.
This past year has been a tough one for everyone in property and we would like to help you to reclaim thousands of pounds of your money back.
Did you take out a Tailored Business Loan or Fixed Rate Loan for your property business with either the Clydesdale or Yorkshire Bank in England & Wales or Scotland?
If you answered yes then you could receive thousands of pounds in compensation and it is free to sign up to the action. It is being conducted on a purely No-win, No fee basis.*
One client of ours is Stephen Langan who had built a property portfolio business up alongside his job in financial services and soon was able to be employed solely by his company.
He was pressured by Yorkshire bank to switch his loans to fixed rate from a variable rate agreement this resulted in him overpaying by £200,000 over a five-year period. The bank suddenly decided to end their support and call in £2m plus added a surprise break fee to this when it was them who had chosen to recall the loan.
All of Stephen’s property including his home was repossessed then sold off by the bank for a fraction of its worth. The stress from this resulted in severe health issues for Stephen as well as the financial costs.
Stephen is now part of our class action claim and we are helping to seek recompense for what happened to him and others just like him. A court date has now been set for the end of the year. So far over 2,500 other businesses have signed up so make sure you act now before it is too late!
The case is based on Clydesdale’s and Yorkshire Bank’s institutional dishonesty when selling Tailored Business Loans (TBLs). ANY customer who was sold a Fixed Rate Business Loan or TBL is eligible to join this compensation claim so what have you got to lose?
We are particularly keen to reach property investors and companies who are facing difficult circumstances financial or otherwise, people who may not realise they are owed thousands, and in some cases six or seven figures, by the bank. This could be life changing for you!
The total amount of compensation owed to the Property industry is likely to be in the hundreds of millions of pounds. Individual amounts awarded will depend on a number of factors, including the size and term of your loan.
Our analysis calculates that average claim size for direct losses for a property business (excluding consequential losses) is £248,000.
Even if you have claimed before against Clydesdale Bank or Yorkshire Bank, you can still join the group action.
You can even join if:
- You’ve previously had a complaint ‘time-barred’
- The complaint was previously rejected
- You have already accepted an offer of compensation
- Your company is in administration or has been dissolved. (If your business has been dissolved you will need to reinstate it in order to join. We can do this on your behalf).
It is worth noting that if it can be proved that your property business went into administration as a consequence of the loan, you could be entitled to a consequential loss settlement that would be much larger.
Join us today while you still can and claim your money back before it’s too late!
*Fee maybe payable in the event that the customer cancels the agreement.