Professional Negligence Claims

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2 Client focused Lawyers We can provide advice and assistance in the following areas: Mortgage Mis-selling Interest Rate Hedging Products (IRHP) Solicitors At TLW Solicitors, we offer a client focused approach which recognises the individual needs of our clients, ensuring best results. With significant experience in claims; our leading team of specialists provide tailored legal advice, advising you on the best solution. Whether you re an individual or a business, our experienced lawyers will work with you to achieve a practical, speedy resolution to your claim.

3 Frequently asked questions Initial advice is provided free of charge and without obligation We are members of the Lawyers Association with significant expertise in recovering financial losses, achieving our clients objectives through pragmatic legal advice. How long do I have to make a claim if I think my mortgage was mis-sold? There are strict time limits which apply to these claims and a number of different potential cut off points. We would need to discuss your claim to identify when these dates would fall. How long will my claim take? This is usually dependent on the complexity of a case and if liability is admitted at the early stage of pursuing a claim. We will keep you fully updated and work hard to ensure maximum settlement. How much compensation can I expect? claims are highly complex and the value of the case is dependent upon the individual losses suffered by the client. What is an IRHP? An IRHP is typically sold alongside a business loan to help manage fluctuations in interest rates. IRHPs were originally intended for corporate investors but incentivised by lucrative commissions, banks began to target the small business market. Since 2001 more than 40,000 small businesses have bought an IRHP believing they offered protection from rising interest rates on their business loan repayments. In reality, IRHPs were a highly complex bet on the movement of interest rates that carried very substantial risks which were rarely explained to customers. As rates began to fall businesses were stuck with high monthly payments unable to afford the fees charged by the bank to exit to the agreement. What is mis- selling? You were potentially mis-sold your IRHP if your bank told you that it was a requirement of the loan, did not fully explain the risks to you or the costs payable if you wanted to end the agreement. Do I need a solicitor to make a claim for compensation? There is no requirement to use a solicitor and you could choose bring a claim yourself. Many banks however are employing their own solicitors to conduct their review of these complex products. Instructing an experienced lawyer to negotiate with the banks on your behalf can help make sure you get every penny you are entitled to and means you can concentrate on running and growing your business. How much compensation will I get? This will depend on the particular facts and circumstances in each case but could include a refund of payments made under the product, any exit fees paid or a waiver of the termination fee plus interest. We will assess the full financial history of the business to ensure that the bank provides compensation for all losses the business has suffered as a consequence of the mis-selling, such as late VAT and PAYE payment penalties, bank charges and certain legal and professional fees. How much will it cost? At TLW solicitors we can offer a choice of funding options for your claim and in some circumstances may be able to offer a no win no type fee agreement.

4 KEY CONTACT Sarah Spruce Head of With a career nearing 17 years in litigation, Sarah s pragmatic approach to law means clients receive both intellect and clear cut advice along with accredited legal expertise. With sound experience and commercial awareness, clients can be fully assured that their case is being handled by a team of specialists. What our clients say The member of staff I dealt with was excellent, knowledgable and explained things very clearly. MS L GEORGE, TYNE AND WEAR Thank you for the great work you did, it s much appreciated MR A PARKER, LEEDS

5 For added TLC think TLW Solicitors Clinical Personal Injury Road Traffic Accidents Financial Mis-selling Commercial Litigation Hedley Court Orion Business Park North Shields Tyne & Wear NE29 7ST