Tailored Business Loans (commonly referred to as TBLs) are different from standalone interest rate hedging products such as swaps, as they combined an embedded hedging product within the loan itself. It is this embedded element of the product which makes them stand out from other loans and which has resulted in a raft of miss-selling claims against the banks.
TBLs are typically structured in a way to provide protection for businesses from increases in interest rates. The significant difference with a TBL is the break costs, which are often substantial and in some cases can be up to 50% of the value of the loan rather than 1-2% you would typically associate with a standard fixed rate loan.
What are the legal claims about?
The vast majority of legal claims relating to TBLs are for miss-selling of the product, specifically little or no important being given surrounding break costs and / or that the risks of entering into a TBL were not explained to the business in advance of the loan agreement being signed.
If these risks were not explained properly by your bank and your TBL is not what you expected, we can potentially help your business reclaim the money it is potentially owed. We can assist you even if you have repaid your loan in full or have re-structured the original loan.
How can we help?
Muldoon Britton are experts in banking and finance disputes. We have litigated against many of the major banks and have a successful track record of favourable settlements for our clients.
We are experts in many of the complex financial instruments that are involved in these claims such as swaps, TBLs and other derivatives and can provide straight forward and commercial advice to help you in resolving your dispute.
Call us today for a no obligation consultation regarding your specific circumstances to see whether we can help.