Consequential losses for mis-sold Interest Rate Swaps claims
As part of the FCA review into the sale of Interest Rate Hedging Products, claimants are now being invited to claim for consequential losses arising as a direct result of the mis-sale of the product.
Consequential losses are additional losses that have been suffered by the individual or company from having to pay significant amounts of interest which, but for the mis-sale, it would not have had to pay.
Such losses can include but is not limited to lost profits from not being able to renovate care homes or hotel rooms, the costs of prematurely selling properties to fund the swap, bank charges as a result of cashflow difficulties, amongst other things.
At Inquesta we are experts in quantifying consequential losses for claimants who have been mis-sold an interest rate swap. We are instructed through the claimant’s solicitor or claims adviser to calculate the losses and prepare an expert report for submission to the bank.
We are currently acting on over 50 consequential loss claims where we have been instructed by the Claimant’s solicitor or Claims Management Company to support the losses claimed.
For more information, please contact Rob Miller.