Banks offer businesses and the general public financial services, and those services include overdrafts, loans, credit cards and mortgages. We are sometimes asked to act as guarantor (perhaps for a family member or our own business) and claims can arise. Similarly, you might be asked to give a charge over your property to support the bank’s lending to a family member or perhaps your own business.
In most disputes arising from these, you would be the Defendant and the Bank would be the Claimant.
There are, occasionally, good defences to claims brought by Banks but, generally speaking, the documentation will all be in their favour and their systems are generally soundly based. As a result, the majority of these claims will succeed and, if they proceed to a contested hearing, most of them will result in a judgment for the amount claimed, plus interest and (substantial) costs.
In many cases, therefore, the function of the solicitor advising a potential Defendant to such a claim is to put forward such arguments as are available so as to negotiate an early and cost-effective settlement if possible.
We do have experience of assisting clients with complaints to the Banking Ombudsman in relation to (alleged) misconduct by banks.
It will be noted that we have not mentioned PPI or similar claims, where there are very many specialist firms out there to assist potential Claimants with potential claims and we do not hold ourselves out as wishing to undertake that work.
For further guidance regarding Banking Disputes please contact your local branch.
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