Fixed Rate Loans

What are Fixed Rate Loans and Tailored Business Loans?

Fixed Rate Loans or TBLs are a type of financial product designed to fix the interest rate at a certain level, providing a degree of certainty for the individual or business with regards to their repayments.

In order to fix the interest rate the Bank is required to hedge its own position. Typically it will enter into some form of third party trade, in order to be able to offer funds to its customer at a fixed rate.

The problem with Fixed Rate Loans and TBLs

We know that Fixed Rate Loans and TBLs can be misrepresented as simple agreements, which is not the case. Lenders often fail to explain the associated breakage costs that can occur in a low interest rate environment, which can run into the hundreds of thousands of pounds.

Individuals and businesses can then find themselves locked into high interest rate agreements, unable to refinance due to the undisclosed substantial breakage costs.

Have you been mis-sold a Fixed Rate Loan or TBL?

Our banking and finance lawyers are aware that many of the large banks have mis-sold these products, and have acted against a number of the major UK banks.

It may be difficult for you to determine whether you have a Fixed Rate Loan or TBL. However, if your breakage or exit costs are over 1% of the loan amount, then it is possible that your loan may have been mis-sold.

How we can help

In obtaining successful outcomes for our clients, we have already recovered over £30 million in relation to mis-sold Fixed Rate Loans, TBLs and Interest Rate Hedging Products.

Our lawyers have the knowledge and expertise to review your Loan Agreement and to advise on the most appropriate steps to take. We will always consider your individual circumstances to provide tailored advice at an affordable cost, be it on a ‘No Win No Fee’ basis, or with the assistance of appropriate after the Event Legal Insurance.

Our Experts

William Fox Bregman

Partner, Solicitor & Head of Banking and Finance Litigation

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Paul Kanolik

Partner & Solicitor

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William Dooley

Senior Associate Solicitor

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Henrietta Frew

Senior Associate Solicitor

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Luke Baldwin

Solicitor

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Emily Ferris

Chartered Legal Executive

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Laura Lammond

Solicitor

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Amy Mellor

Solicitor

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Wai Chan

Paralegal

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Melissa King

Personal Assistant

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Daniel Lewis

Trainee Solicitor

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Leah Sharman

Paralegal

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Ellie Sherriff

Personal Assistant

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Grace Tyror

Personal Assistant

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Here to help

Our specialist teams can provide full service legal advice and assistance, providing practical and cost-effective solutions.

Our offices

Bournemouth
302 Charminster Road Bournemouth Dorset BH8 9RU
01202 525333 Contact
London
Office 320 107 – 111 Fleet Street London EC4A 2AB
02039 784720 Contact
Poole
14a Haven RoadCanford Cliffs, Poole Dorset BH13 7LP
01202 709898 Contact
Ringwood
Monmouth Court Southampton Road, Ringwood Hampshire BH24 1HE
01425 484848 Contact
Swanage
55 High Street Swanage Dorset BH19 2LT
01929 422233 Contact
Wimborne
39a East Street Wimborne Dorset BH21 1DX
01202 057676 Contact