Banking & Financial Disputes
Blacks Solicitors’ expert Commercial Dispute Resolution team deal with all aspects of banking and financial litigation including enforceability of agreements and liability under a guarantee.
If you are a lender wishing to enforce a guarantee, or your lender is looking to enforce its security or to withdraw a facility, we can provide clear advice to assist in the resolution of any arising issues.
In addition we also provide support in relation to the mis-selling of financial products and mortgage repossessions (please see below for further information).
Mis-selling of Financial Products
Were you encouraged to protect your business with an interest rate swap arrangement that cost it thousands, or to take out a loan that you did not understand?
Many individuals and businesses have suffered losses as a result of the mis-selling of financial products, such as interest rate swaps and mortgages.
Examples of mis-selling of interest rate swaps include:
- The customer not understanding what was being sold to them
- The bank insisting the swap be entered into as a condition of the loan
- The bank not explaining the consequences of the swap, which may include exorbitant termination fees and/or monthly repayments
Examples of financial mis-selling of mortgages include:
- The borrower’s ability to repay the mortgage was not properly assessed leaving the borrower in financial difficulties
- The borrower was sold an interest-only mortgage (rather than a repayment mortgage) without being properly advised about the need to repay the whole capital borrowed at the end of the mortgage term
- The borrower was advised to remortgage within a short space of time of having either purchased or remortgaged a property, and had to pay a penalty to their lender (known as an Early Redemption Charge) to get out of the previous mortgage
- The borrower was advised to consolidate unsecured debts by remortgaging, leaving them paying much more in interest than they would have done if they had carried on repaying their unconsolidated debts
If you have experienced any of the above, we can assist in obtaining redress either by way of a complaint to the Financial Services Authority (FSA), the Financial Ombudsman Service (FOS), or through High Court litigation.
Our specialist team have experience of acting for both secured lenders and borrowers and can provide advice and assistance relating to any breach of mortgage conditions, most commonly a failure to pay as required. We also handle allegations of mortgage fraud.
We can guide you through the complete repossession process and advise you as to the most suitable course of action in any given circumstances.
Has an insurer rejected a claim?
A policy of insurance is designed to provide cover and peace of mind in the event that things go wrong. However, disputes can arise when insurers decline a claim.
Unfortunately, it is all too common for insurers to refuse claims on the basis of:
- Breach of warranty
- Allegations of fraud
- Interpretation of the policy wording
- Reliance on exclusion clauses
However, our specialist team have a wealth of experience in acting for policy-holders in claims against their insurers where there is a refusal to indemnify.
For more information about any of the above, or for a free no obligation discussion, please email or call Blacks’ Commercial Dispute Resolution team today on 0113 207 0000.