Qaadvisory
Member
- Location
- Wiltshire
3 recent successes have been for farmers all of which were based in Wales. Two were with Lloyds, and one was with NatWest. We had a case with Santander, but ultimately it was not successful.
On the three successful cases, one farmer received back around £160,000 as cash redress, another received back a little under £100,000 with £80,000 knocked-off the loan balance, with the fixed rate (6%) now reduced to variable rates, and in the third case, the borrower received around £60,000 cash redress and £40,000 knocked off the loan balance. All loans are now on variable rates, a huge monthly saving, and they no longer carry large, inflexible break costs.
On the three successful cases, one farmer received back around £160,000 as cash redress, another received back a little under £100,000 with £80,000 knocked-off the loan balance, with the fixed rate (6%) now reduced to variable rates, and in the third case, the borrower received around £60,000 cash redress and £40,000 knocked off the loan balance. All loans are now on variable rates, a huge monthly saving, and they no longer carry large, inflexible break costs.