interest Swaps test - Greg Vaughan

interest Swaps test

Posted on August 12, 2014 by GregVaughan — No Comments ↓

The 60 second mis-selling test…

Please answer the six questions below. The result will indicate whether you were the victim of mis-selling or not.

It is important to bear in mind the test is only an indicator. It doesn’t mean you definitely were mis-sold (if that is the result) or that you will be entitled to compensation. Please contact me whatever the result and I will carry out a more in depth analysis for you (free of charge, of course).

Interest Rate Swaps: Quick Test

Question 1 of 6

Did the bank explain there was a risk the swap product could cost your business money, as well as protect you from changes in interest rates?

Question 2 of 6

Did the bank fully explain how the swap worked and the impact various movements in interest rates would have?

Question 3 of 6

In your opinion, did the bank gather sufficient information about your business, and your level of financial awareness, before recommending the swap?

Question 4 of 6

Did the bank explain about the costs of ending the swap contract early?

Question 5 of 6

Did the bank insist you take out the swap product when you took out the loan?

Question 6 of 6

Did the bank give you easy to understand examples of how the swap would benefit or cost your business at various rates of interest?

Thank you for taking the test , please click the button below to find out your result.

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