Wednesday, 8 August 2012

interest rate swap mis selling

Interest Rate Swap Mis-selling Background Interest rate swaps were actively marketed by retail banks to their small and medium sized business customers from around 2005 to 2007 and proved extremely profitable for the banks. Businesses were pressured and/or forced to believe they had no other option by their Banks to enter into interest rate swaps, sometimes as a condition precedent in loan agreements. These products were sold as the ideal protection product guarding against interest rate rises and the financial difficulties a rise could have on a small/medium sized business. Interest rates however fell to record lows from late 2008 onwards leaving clients paying for an unsuitable product and suffering in the vast majority of instances, irretrievable financial consequences of the swap itself. There is clear evidence that interest rate swaps were mis-sold by well known high street banks to small and medium enterprises. Stellar Law act for clients mis-sold ‘swaps’ and pursue those lenders in order to resolve the financial impact it has had on our clients of such mis-selling. We act for clients that were mis-sold various types of swaps including LIBOR swaps, Base rate swaps, Interest rate caps and Base rate collars swaps. Banks have a duty of care to ensure when selling financial products that they provide a full explanation of the effects and potential risks of the product. This duty of care is even more relevant with the type and/or class of the customer. Lenders are required to make sure the product is suitable for the client. The banks are obliged to follow these principles and rules as stated by the Financial Services Authority which are set out in the Conduct of Business Sourcebook (COBS). In many of these sales, the banks breached this duty of care by: (i) not explaining to their customers the possible detrimental effects of the interest rate swap and the associated risks together with (ii) failing to consider that an interest rate swap may well not be the most suitable product for their client. If you believe you have been mis-sold a ‘swap’ there are a number of options, including negotiating with the bank, making a formal complaint to the Financial Ombudsman Service (FOS) and issuing proceedings and litigation against the bank. We are not a claims management company, therefore our remit allows us to not only complain to the FOS, but also issue legal claims and represent our clients at Court. The initial step would be to attempt to negotiate with the bank and reach an agreement on the loan and repayments. We’ll consider the facts of your case before preparing a detailed pre-action letter of claim to start off the negotiations with the bank. If the bank is not prepared to negotiate then litigation will be considered to take matters further on your behalf. We’ll consider the most appropriate strategy in which to recover your losses whether that’s direct litigation or making a formal complaint to the Financial Ombudsman Service which can obtain compensation of up to £150,000. Swaps are a complex subject which most lawyers will not be familiar with or understand to a level adequate enough to recognize Interest Rate Swap mis-selling claim. We specialize in this field and have vast experience in both financial services regulatory auditing and in litigation against banks.

Monday, 10 October 2011

Mortgage Claim

Problems may arise when one is committing on buying a home. This is because of the wrong advice they may receive and hence the buyers end up buying the wrong mortgage. This situation makes any buyer wonder what to claim, in such a situation the questions are still if they are eligible to make such claims or not. With these concerns mounting up, there are areas in the mortgage sector where claims are made. The two most important categories on where one can have a mortgage claim is the mortgage protection insurance and the mis sold mortgage.

Mis sold of a mortgage occur when the buyer accepts to pay for the mortgage fees, but in turn the problems arise when the mortgage is sold incorrectly. Mis sold mortgage result due to incorrect or rather wrong advice. The process of how a mortgage can be mis sold has been a mysterious and uncovered story. A mortgage can be mis sold when the interest rates of a fixed rate mortgage increases substantially and the adviser does not take in account on whether the customer can afford the payments or not. Such a situation leads results to mis sold mortgage. A mis sold mortgage also occurs when the circumstances of the customer on a certain mortgage are not taken in to deliberation. This is best explained by the fact that the adviser still does not consider the customers potential to meet the payments after a certain period elapses. The truth is that a mortgage can be mis sold if the customer sold a sub-prime mortgage, and yet does not fit the bracket of people with poor credit. With such, a mortgage is mis sold. If any individual buyer thinks that the mortgage he or she has bought is mis sold, then the opted way is to seek advice.

The financial service authority is an organization that tends to offer legal advice and also regulates the mortgages. This FSA organization ensures that the mortgage advisers deliver and provide the most accurate and reliable advice to the buyers. This is to prevent the buyer being mis sold a mortgage. In addition to this, there are mortgage rules and regulation that govern the mortgage sector. These rules are made for both the mortgage lenders and buyers, for the lenders they have to have a reasonable and accurate plan of payment, which tends to suit the customer. Lender must also be specific, as well as be able to know the best product for the customer. The intended rules for the customers, and then they should also know the interest rates, have a reservation fee, and also ought to have an early redemption penalty, as well as life insurance.

An insurance claim is made by the customer to the insurance company, so as to claim compensation for any accident involved. The mortgage protection insurance is on the mis sold mortgages; this insurance claim has been increasing as many buyers opt for it. The mortgage protection insurance is not compulsory, though its advantages to have the good mortgage protection insurance policies. This is because they cover all bills related to the mortgage such as interest rates and repayments among others. The mortgage protection insurance has pit falls such as not paying out when customer is off work due to medical conditions, not covering for the pregnancy, and also if customers reigns. Customers reclaim their mortgage payments in cases that the mortgage lenders are being dishonest regarding to customer service.

Monday, 27 December 2010

Sipp Advice


SIPP Advice, what you need to know?




There has been some news in the press of late about how it may be possible to invest your pension in an investment property using a SIPP – or rather how to purchase a property using a SIPP for your existing pension.




What most people don’t yet fully understand is how it is possible to use a SIPP as SIPP`s and the process of setting up a SIPP can be complicated and to help with the process of setting up a SIPP it is important to seek out a reputable financial management company who has a licence to offer SIPP advice. We can link you to a reputable and fully qualified SIPP Independent Financial adviser. Any company offering SIPP Advice that does not hold the necessary qualifications is not permitted to do so and would be breaking Financial Services Authority Rules.




The SIPP adviser will be able to communicate directly with you and your pension provider and provide a statement of the full costs associated to investing your pension through a SIPP. Once this is provided, only then can you decided if you really want to invest your pension through a SIPP. The SIPP adviser will be able to identify the full costs of investing your pension through a SIPP, and provide you with a regulated overview as to the full risks, advise you accordingly and only then can you make an educated decision to invest your pension using a SIPP.




Although many people would like to invest their pension in a property not all pensions can be invested using a SIPP, so you should seek SIPP advice from our experienced advisor.




The goal of any SIPP Advice provider?




The goal of any SIPP provider is to have the full cost and risk of the investment explained in detail. Although it is not impossible to achieve this by yourself, it is a lengthy and complicated process and one that really requires the experience and expertise of a SIPP advisor that is authorised by the Financial Services Authority. Their goal is to ensure they follow the correct procedures in order to provide a comprehensive explanation in terms of the risks and rewards. There is a lawful process that needs to be adhered to when providing SIPP advice with regards to the information being released under the FSA regulations. There is also a recognized SIPP provider that your pension company permit your pension to be invested through. Another vital component to maximize the success of SIPP is ensuring you choose a financial advisor who has a track record and the adviser we work with has a wealth of experience in the SIPP and Pension market.




This means that you, the investor, are given the best possible chance of achieving the returns on investment you require in order to have a happy retirement. A SIPP advisor will only agree to provide adequate SIPP advice if they believe you have a pension provider that will permit you to invest in a SIPP, so it is imperative that you establish that you have a SIPP enabled pension and a highly experienced SIPP advice team to evaluate your likelihood of success. People who make a SIPP investment do so with all the associated risks fully explained to them by our experienced SIPP adviser.



Sipp

















Once again is it imperative that you seek a regulated company to provide you with your SIPP advice and who is authorised to provide SIPP advice before you decide to go ahead and invest your retirement fund - it is their legal obligation. The law is the law, and has to be adhered to – even by financial investment advisors.




We have established links with financial advisors authorised to offer SIPP advice that can provide you with all of the information necessary to maximise your chances of success. In partnership with several major financial companies, plus an investment company authorised to offer investment property through a SIPP, where required, we will also provide the highest quality of legal expertise available.




Turning your pension into a Sipp Pension.




Our goal is to provide you with access to professional SIPP advice that ultimately covers all the aspects of investing your pension by way of a Sipp Pension such that you receive the necessary SIPP advice to be certain that the investment is correct and right for you.




To find out more and if you qualify for a SIPP and to see if your existing pension is eligible to be invested in a SIPP, register your details below.




You’ll be able to discuss your needs with a FSA-regulated Independent Financial Advisor, and arrange for a fast and hassle-free pension-to-SIPP conversion.




The adviser will look at SIPP providers and identify the most suitable SIPP for you. There is no charge for the adviser to identify your SIPP requirements.

Tuesday, 21 December 2010

Sipp Providers


Why You Need A Sipp Provider?




The popularity of self-invested personal pensions (Sipps) has been on a powerful upward trajectory for the past couple of years, as a growing number of investors consolidate and take control over their pension funds.




Figures from the latest Sipp survey in April 2008 show 240,000 plans in existence, compared with just 80,000 five years earlier. One of Sipp providers Total sales for its best-selling Sipp were up by more than 53 per cent for the 2007-08 tax year, compared with the preceding 12 months.




But while the idea of moving your pension funds into a Sipp Pension may appeal, identifying the most appropriate product for your needs can be daunting: the 50 providers in the market all seem to operate different charging structures and different investment choices.



Sipp





This is one area where the services of our linked independent financial adviser (IFA) specialising in pensions can be particularly valuable. An adviser will be able to help in the choice of investments to hold within your Sipp, and advise on the most reputable, efficient and cost-efficient Sipp providers.




Whether or not you decide to use our IFA, it's worth understanding the range of options available, as Sipp providers come in several forms. At one end of the spectrum are the low-cost online providers catering mainly to individuals prepared to make their own investment choices without the help of a financial adviser. These include Hargreaves Lansdown, Sippdeal, James Hay's e-Sipp and Fidelity FundsNetwork.




Why You Need Sipp Insurance?




Then there are the insurance companies that have traditionally offered personal and stakeholder pensions and have now widened their range to include Sipps.
Some offer what are known as hybrid Sipps, requiring clients to put a certain amount of their investment into in-house funds before they can branch out into a range of externally-managed funds.




Some insurance houses also have deferred Sipps, where the client chooses from in-house funds but has the option to move into a more flexible, wider range of investments and manage them himself at a later date - for example, once his fund is large enough. But the Financial Services Authority has expressed concern that some investors may be paying for a level of flexibility that they are not actually using, so it’s important to clarify exactly how the charges work.




‘Full’ Sipps are available from a variety of smaller or specialist Sipp providers, as well as from certain insurers, notably Standard Life. These offer a wide range of Sipp investments including the spectrum of collective funds, single company shares, bonds, cash, overseas investments, traded endowments, derivatives and, in some cases, commercial property. Typically, they will cost more than those focusing on collective funds, particularly where property is concerned.




So what should you consider when you are deciding where to put your pension and setting up a Sipp? The most important thing to consider is to identify your own attitude to risk and your investment goals. Then we can help you find a plan that offers access to appropriate investments.




Turning your pension into a SIPP.




Our goal is to provide you with access to professional SIPP advice that ultimately covers all the aspects of investing your pension by way of a SIPP such that you receive the necessary SIPP advice to be certain that the investment is correct and right for you.




To find out more and if you qualify for a SIPP and to see if your existing pension is eligible to be invested in a SIPP, register your details below.




You’ll be able to discuss your needs with a FSA-regulated Independent Financial Advisor, and arrange for a fast and hassle-free pension-to-SIPP conversion.




The adviser will look at SIPP providers and identify the most suitable SIPP for you. There is no charge for the adviser to identify your SIPP requirements.

Tuesday, 9 March 2010

Claims Jobs




Become A Claims Consultant And Earn £12,000 In 3 Months

· Are you looking for a secure business opportunity?
· Do you want to work flexible hours?
· Would you like to secure an achievable income of £40,000+ per year?

If your answer is YES
Our Claims Consultant Training Program is right for you.



WHY TRAIN AS A CLAIMS CONSULTANT?

The UK is one of the largest financial claims markets in the world and has grown rapidly in the last 15 years. It is estimated by the FSA (Financial Services Authority) that some 22 million claims exist, of which only 415,000 complaints have been processed since January 2005 - 158,000 of these being in 2008 alone, showing 95% of the market potential untapped.

The Citizens Advice Bureau figures show an average financial claim value to be £2,400, therefore making the claims industry worth £52,800,000,000 (Fifty Two Thousand, Eight Hundred Million!!) This equates to HALF A BILLION POUNDS in compensation paid to consumers.

Being a Claims Consultant means for every one of these successful claims, a percentage of each client’s compensation payout is PAID TO YOU!

In addition to this incredibly lucrative opportunity, becoming a Claims Consultant also gives you the flexibility to set your own schedule, sales objectives and realistic targets. At Claims Jobs our business model, based on solid claims experience, will provide you with immediate prospective clients to process, plus all the tools you need to start making money literally from day one.


HOW MUCH CAN I EARN?
Realistically, people working as a Claims Consultant can earn £40,000 in their first year, part time. We will provide you with quality leads, access to state of the art processing software, a professional mentor with in depth experience of working within the Claims Industry, plus full training of the industry knowledge required to operate as a Successful Claims Consultant.

Whether you plan to make a modest, part time income from home, or generate a high income, by working full time - we will provide you with a step-by-step training program, plus all the resources you need, to ensure your success.


WHAT WE CAN OFFER YOU...

Claims Jobs will provide you with a comprehensive training program and support service that will help you organise and structure your working day to allow you to get the most out of your training and earn a potential six figure annual income.

What makes Claims Jobs unique is we solve the problem every business faces – attracting customers AND then converting then to paying clients.

Advertising for any business or sole trader is their greatest overhead and can often result in money wasted, due to limited budget and a failure to target the appropriate market. At Claims Jobs, we supply our candidates with 500 targeted live leads who are only 24 hours old, plus an innovative connection and processing system so you will never have to dial a single phone number. On average, our current recruits are converting seven new clients every ninety minutes, just by using our innovative system.

Once you have made initial contact with your new clients, we supply you with all the resources you need to bring them on board as paying customers, including:

- State-of-the-art online lead processing system.
- Comprehensive pre-printed information & application packs, in both email and hard copy format, to send to your clients.
- Access to online support.

Previous experience in the Claims Industry is not necessary as our in-house experienced consultants will provide you with all the training you will need.

TAKE ACTION TODAY....

Join the Claims Consultant Training Program and benefit from:

# Exclusive training sessions with experienced Claims Consultants.
# Access to 500 live leads who are less than 24 hours old
# Access to state-of-the-art online lead processing system

To find out more about this unique opportunity, please email us detailing why you want to become a Claims Consultant.

***************************************************************


We Invite You and a Guest to Attend Our Claims Consultant Seminar.

We are currently running a Claims Consultant Seminar designed to give you an insight into the key skills and knowledge needed to become a successful Claims Consultant.

The Seminar will show you how you can earn income processing high quality claims leads. There will also be a question and answer session that will provide answers to any questions you may have regarding becoming a Claims Consultant.

Places at our workshops tend to be snapped up quickly, so to take advantage of our Claims Consultant Seminar, RESERVE YOUR PLACE TODAY!

Simply register at www.claims-jobs.co.uk and we will provide you with full details of our next Seminar.

Sunday, 5 July 2009

Credit Agreement

Do You Have A Flawed Credit Agreement?
If So, You May Not Have To Pay The Loan Back.

There has been some news in the press of late about how it may be possible to make a financial claim against the bank who you have a credit card with, due to the potential ‘unenforceability of the credit agreement. If successful, this can result having the current outstanding debt of the credit card completely cleared. What most consumers don’t yet fully understand is how it is possible to make a financial claim such as this.

The key lies in the credit agreement that you first signed when you took out your credit card. In order to find out if your credit agreement may be flawed and therefore, potentially ‘unenforceable’ by the lender, is to have it correctly evaluated - which is why it is important to seek out a reputable financial claims company who has a panel of solicitors experienced in the Consumer Credit Act. Any credit agreement signed by a consumer prior to the 6th April, 2007, is governed by the Consumer Credit Act of 1974 and must comply with its regulations.

Credit Card Claim

Debt Clear Solutions Ltd is a regulated financial claims company that is able to provide a bona fide legal process for their clients.

To see if you have a valid credit card claim and possibly write off your credit card debt take our 60 second test at:











or call Debt Clear Solutions today for a free consultation on: 0207 544 1093

It Pays To Claim.

Wednesday, 17 June 2009

Credit Card Refund

How To Obtain a Credit Card Refund.

There has been some news in the press of late about how it may be possible to obtain a credit card refund by making a claim against the credit card company that you first signed your credit card agreement with.

What most consumers don’t yet fully understand is how it is possible to obtain a credit card refund, which is why it is important to seek out a reputable financial claims company who has a panel of solicitors experienced in the Consumer Credit Act. Any credit agreement signed by a consumer prior to the 6th April, 2007, is governed by the Consumer Credit Act of 1974 and must comply with its regulations.

They will be able to communicate directly with your lender and obtain a true copy of the original credit agreement you signed when you first took out your credit card or loan. Once this is obtained, only then can their solicitors fully evaluate the credit agreement. If they are able to identify breaches of the prescribed terms within the credit agreement, and believe you have a valid case, only then will they make a credit card refund on your behalf.

Many people mistakenly believe that successfully obtaining a credit card refund involves a financial process. This is not the case. To receive a legitimate credit card refund, the credit agreement must be put through a legal process. Although many claims are resolved in the consumer’s favour within six months, some cases are taken to court. This happened in the north west of England recently when a judge found in favour of a couple when he declared the credit agreement they signed with their loan company was “irredeemably unenforceable”. This meant they didn’t have to pay back the outstanding balance of over £17.000

The goal of any credit card refund is to have the outstanding balance completely written off. Although it is impossible to achieve this by yourself, it is a lengthy and complicated process, and one that really requires the experience and expertise of a legitimate financial claims company that is authorized by the Ministry of Justice. Their goal is to ensure they follow the correct procedures in order to retrieve a true copy of your original credit agreement from your lender. There is a lawful process that needs to be adhered to when requesting a copy of your original agreement with regards to the information being released under the Data Protection Act. There is also a recognized time period that the lender must respond to the request.

Whether the outcome is the lender complies with the request and provides a true copy of the agreement in the allocated time frame, or refuses, or is unable to do so, it is imperative your chosen financial claims representative have the legal team in place to proceed to the appropriate step of the credit card refund process. Providing that a copy of your credit agreement is supplied by your lender, a thorough and accurately evaluation or ‘Audit’ then needs to be carried out by an experienced solicitor.

Another vital component to maximize the success of any credit card refund is ensuring you choose a financial claims management firm who has After The Event Insurance in place. This means that you, the consumer, are protected on a ‘No Win No Fee’ agreement with regard to legal fees incurred by either party’s legal team. An underwriter will only agree to provide adequate insurance cover if they believe you have a strong case and can achieve a credit card refund, so it is imperative that an established and highly experienced legal team evaluate your credit agreement thoroughly.

Debt Clear Solutions is an established financial claims management company that can provide all of the components necessary to maximise the likelihood of their clients’ receiving a full credit card refund. In partnership with a major city law firm, plus a Barrister on hand who is an expert in Consumer Credit Law to advise on individual cases, where required, Debt Clear Solutions is able to provide the highest quality of legal expertise available.

To find out if you have a valid claim and may be eligible to receive a full credit card refund, visit www.DebtClearSolutions.com today and take our 60 Second Test or call 020 7544 1093 to speak directly with one of our dedicated Claims Specialists.

It Pays To Claim.