Interest rate hedging products were developed to protect borrowers against the risk of interest fluctuations. These products take several different forms, such as:
Interest rate swaps – that “fix” the interest rate.
Interest rate caps – that cap rises in interest rates.
Interest rate collars – that limit interest rate rises within a simple range.
Interest rate structured collars – that limit interest rate rises within a more complex range.
The banks are bracing themselves for an avalanche of claims. Barclays for instance has reputedly put aside £450 million to cover their exposure.
Emma Slade, a professional negligence solicitor, specialises in these mis-selling claims. Lee Dawkins at our Taunton office is also part of the interest rate swap claim team.
If you have been sold one of these products and would like to know where you stand then call our new helpline FREE on 0808 139 1593. Alternatively, you can email Emma or Lee direct at:-
[email protected]
[email protected]
And for those who would prefer a more traditional face to face meeting we can see you at any of our offices in Devon and Somerset: Barnstaple, Exeter, South Molton, Bideford, Taunton, Tiverton, and Braunton.
