Interest Rate Swaps
Do you think you have a claim to interest rate swaps?
If so then contact us or chat online so that we can fully understand the position.
In order to claim financial mis-selling then you have to believe that the purpose of entering into the interest rate swap agreement was to get a loan. In order to ascertain whether you have a claim there will be a number of questions that has to be considered:-
1. Who suggested that the rate swap agreement should be entered into, i.e. Bank manager, finance broker?
2. Where the risks of the rate swap agreement fully explained?
3. In order to take the loan was the rate swap agreement a condition of the loan or that you were given the impression that this was.
4. Did you know what a rate swap agreement was?
This is just a short sample of questions that we will go through with you to ascertain if you have a claim, there is no fee for this service. If we believe that there is a claim then we can offer a number of funding packages to bring this claim to fruition.
What is an interest rate swap?
For general commercial companies an interest rate swap agreement may have been entered into as part of the interest element of loan that was taken out with a bank.
The interest rate swaps are complex financial products whereby the interest rate is swapped from a variable rate of interest based on interest rate changes which can either be set by the BoE (Bank of England) or LIBOR (London Inter Bank Offered Rate) to a fixed rate of interest.
The agreement is set up that if LIBOR or BoE rates increase then you will pay less interest, however if the interest rate goes down then you will pay more. Since 2008 when interest rates plummeted this had an adverse effect to the various interest rate swap agreements.
If your company has been involved in an interest rate swap or you have been charged a large exit fee to cancel the agreement, then there may be an element of financial mis-selling whereby your company may be entitled to compensation.
Using our expert forensic services at Inquesta we are able identify and quantify the potential value of claim that your company may have suffered as a result of entering into one of these interest rate swap agreement.