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Aggi

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Everything posted by Aggi

  1. I have just sent this to a lawyer on the Bully Banks site, I had an IRSA product covering £2.43m of debt, which indeed has now been wound-up as a result of a complaint to the Ombudsman. The product was with RBS, cap at 6.2% collar at 3.75%, this was ‘linked’ to a loan at 1.225% over base. The terms of this variant were such that when rates fell to below 3.75% the full 6.2% was charged. My point here is that RBS/Nat West did not then lower the payment due on the loan itself, so we were still being charged at the agreed amount in the original mortgage deed-when interest rates were higher. In
  2. Nope, no clauses at all, I was simply removed from the contract. A
  3. I would be very happy to help- from what I hear I am one of the very few, or perhaps the only one to have succeeded, against RBS on a rate instrument. I tried to put my e mail address here, but I have to make another 8 posts, but happy to communicate in open forum. Aggi
  4. I won a case against RBS with an order from the FSA ombudsman, in April 2010, however they have only just settled the matter last week!!!. The product cost over £800000 at final reckoning. The products were sold to beef up lending margins, where they offered headline rates on commercials around 1.225% over base. One of the key things here is how much information did you have to make the purchase and what status were you, they slipped out of the regulatory net by dealing with "Market Counter parties", although the EU's definition of this and RBS's is a little different, A market counterpart
  5. The bank can and will write off, you will have to make an offer and back it up with valuations and the like, you need a meeting with them, I was in the same position, no guarantees but worth a try.
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