BBC Panorama on business banking
Discussion
Did anyone else watch this? A look at how some commercial banks are not only wilfully screwing some customers over, which puts them out of business, but even doing it intentionally in certain circumstances. It was shocking how they treated some clients.
Any Lloyds or RBS customers on here really should catch it on iplayer.
Any Lloyds or RBS customers on here really should catch it on iplayer.
I was a Lloyd's customer, they valued my commercial property at the height of the crisis at 30% less than market value. within 48 hrs they reduced our overdraft by 100k because their LTV figures didn't stack up any longer.
I went through serious sh!t because of those b@stards for a long time. I have lots more hard luck stories as a subsequence but I wont go onto those right now..
I went through serious sh!t because of those b@stards for a long time. I have lots more hard luck stories as a subsequence but I wont go onto those right now..
One of my favourite parts was when the ex commercial property investor held the redacted letter up to the light and could see that the bank was after a surveyor that would be particularly harsh on the value of his property. To treat a paying client (one that has probably given them tens of thousands in profit from fees and interest) is simply disgusting.
Very interesting, and I'm glad I wasn't caught up in such dealings. It didn't make the banks look very good at all. I conceived the thought that bankers are dangerously deviously competent, and that if they only passed one of those three tests then they'd probably end up as politicians.
Lloyds are utterly incompetent.
I have been trying to effect a new Mandate with them for four months, yes four f
king months, and still they are pissing about.
I have made a formal complaint but the person dealing with it hasn't got a clue about the banks procedures or documents, and just keeps referring back to whoever is supposed to be updating the account who probably has even less knowledge than she does.
Today they asked how many signatures are required on behalf of my Ltd, even though it is clearly stated in the new Mandate itself. It's their bloody document too that I just fill in the boxes.
You couldn't make it up .....
I have been trying to effect a new Mandate with them for four months, yes four f
king months, and still they are pissing about.I have made a formal complaint but the person dealing with it hasn't got a clue about the banks procedures or documents, and just keeps referring back to whoever is supposed to be updating the account who probably has even less knowledge than she does.
Today they asked how many signatures are required on behalf of my Ltd, even though it is clearly stated in the new Mandate itself. It's their bloody document too that I just fill in the boxes.
You couldn't make it up .....
Dick Dastardly said:
Did anyone else watch this? A look at how some commercial banks are not only wilfully screwing some customers over, which puts them out of business, but even doing it intentionally in certain circumstances. It was shocking how they treated some clients.
Any Lloyds or RBS customers on here really should catch it on iplayer.
Interesting, I'm a Lloyds business account customer so I will catchup on iPlayer this evening.Any Lloyds or RBS customers on here really should catch it on iplayer.
A mate of mine got caught up in this same circle. Owned a string of properties, all with a mix of mortgage and equity, all rented out and easily covering the repayments. Bank revisits the business, re-values the properties at less than the loan values, then puts them in "recovery". Interest rates went up as they were now at risk, bank repo's the properties, sells them for more than the original valuation.
Bank makes a profit, my mate looses the lot. Nothing changed in the actual business, the properties were still rented out, income coming in and covering the original mortgages.
aholes.
Bank makes a profit, my mate looses the lot. Nothing changed in the actual business, the properties were still rented out, income coming in and covering the original mortgages.
a
holes.I own some commercial property and had a fantstic offer from a client to have the lot off me for a minimum of 5 years.
RBS decided that the terms were being changed sufficiently they reused to let me sub-let unless they remortgaged at a rate of 5% above base from 1% above base because (and I quote) ''We're losing money on your mortgage and have been told to do whatever we need to to raise rates' I argued but they wouldn't budge.
Now in the accounting world it really doesn't matter what the rate is but the process was looking like it would take 4-6 months (as quoted to me) and my prospective tenant walked into a different set of buildings up the road.
RBS are a bunch of c........'s
RBS decided that the terms were being changed sufficiently they reused to let me sub-let unless they remortgaged at a rate of 5% above base from 1% above base because (and I quote) ''We're losing money on your mortgage and have been told to do whatever we need to to raise rates' I argued but they wouldn't budge.
Now in the accounting world it really doesn't matter what the rate is but the process was looking like it would take 4-6 months (as quoted to me) and my prospective tenant walked into a different set of buildings up the road.
RBS are a bunch of c........'s
Gassing Station | Business | Top of Page | What's New | My Stuff