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Disputes and Debts

Professional Misselling

Often in our lives we rely on professional people to provide us with the benefit of their expertise when making important financial decisions. When professional advice falls short of the standard expected, a claim for compensation may be due.

Misselling of financial products may include:

  • Investment products
  • Life policies
  • Other insurance policies and private health insurance
  • Financial Products
  • Mortgages

Financial misselling claims for compensation are usually made against the institutions and providers of the financial products such as:

  • Banks and building societies
  • Mortgage brokers
  • Pension fund providers
  • Financial and tax advisers

Although large financial institutions attempt to offset a clients' losses as the result of market forces during the economic crisis, it is becoming increasingly frequent that investors have suffered losses due to negligent financial advice, breach of contract or breach of financial regulations or even through fraud.

Marsden Rawsthorn can advise on such complaints and take the necessary action in order to claim compensation.

We will make an assessment taking into consideration the nature of the financial products sold, your financial circumstances at the time of the transaction and the paperwork involved in the selling process.

We will make a thorough assessment on your right to claim compensation and if we conclude that you do have a potential claim, we will be able to represent you in making a claim against the lender or broker that sold you the financial product in question.

See also Professional Negligence

Interest Rate Hedging Products – A potential claim for compensation

A number of small and medium-sized businesses have acquired interest rate hedging products to reduce their exposure to interest rate fluctuations.

These products were typically sold to customers who have a business loan with their bank. Partly due to the complexity of interest rate hedging products, it has become apparent that these have been widely missold.

Claims against these products arise where a small to medium sized company has taken out a business loan and the bank or lending institution required or forced the company to also enter into an interest rate hedging product (also known as 'swaps' or 'interest rate hedges') as a compulsory requirement of the loan.

The intention of the swap was to protect companies from future upwards movements in interest rates. Many companies are now suffering as a result of entering into these complex financial products, incurring costs escalating into the thousands which were never warned about or anticipated at the outset, whilst at the same time are making large profits for the organisations which sold them.

Act now to assess your situation

The process to seeking compensation against the misselling of interest rate hedging product is complicated with no test cases yet recorded to gauge the probability of a successful claim. It is critical that legal advice is sought as soon as possible to act on any potential misselling claim. With only six years in order to raise a claim from the outset of the purchase of these financial products (which were typically popular and offered during the period between 2005 and 2008 by a large number of high street banks), many people what may have been missold interest hedging funds may not realise it will soon be too late to make a claim.

It is important to note that there are strict time limits governing claims of this nature. If you think you have a claim for Interest Rate Hedging Product misselling, contact Marsden Rawsthorn as soon as possible.

Contact us

If you believe that you have suffered financially from professional misselling, contact us. We can discuss your issues and determine whether you’re entitled to compensation. We aim to provide our advice in clear and straightforward terms - as we would when making any compensation claim on your behalf.

Marsden Rawsthorn is also in a position to review the funding your case – often there may be several options available. In certain cases we may be able to work for you at no cost to you by claiming the legal fees from a third party or existing policy.

For a free no obligation meeting to discuss your situation please contact our dispute resolution team on 0800 294 4410.

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