Bank Loan Conduct Questionnaire

Have you been sold a fixed rate loan by a bank or building society? If so, then you may have been mis-sold.

60,000 fixed rate loans were sold which may not be compliant. These loans were often toxic containing complex financial derivatives.

Please note BULLY-BANKS is a support organisation, here to help YOU!

Some businesses sold fixed rate loans have endured serious financial hardship, many more have 'gone to the wall' or had to scale back their operations due to substantial break costs which were never disclosed or properly explained to them.

Please complete our questionnaire (*ONE FOR EACH FIXED RATE LOAN) we will use it to fight your corner and get the all banks and building societies to accept responsibility for mis-selling these loans. It is important that we get the data as quickly as possible so please do not delay filling the survey in.

There are 49 questions, mostly multiple choice. The data that we get from this survey will be vitally important to help us lobby to get redress. The better quality the data the more powerful our lobbying is. Please fill in the survey carefully. If possible fill in 1 survey for each product/loan. It should take you around 15-20 minutes to complete as you will already remember most of the information. This could be the best 15 minutes that you invest all year!

All data collected will be treated in the strictest confidence and anonymised before being presented as evidence to the House of Commons Treasury Select Committee Inquiry into SME banking experiences. The data may also be used for discussions with the FCA and other relevant organisations.

PLEASE TELL OTHERS AND CIRCULATE THE IMPORTANCE OF THIS SURVEY TO ANYONE YOU KNOW WHO MAY HAVE ONE OF THESE LOANS. THIS IS VITALLY IMPORTANT.

Some questions allow for multiple boxes to be ticked - the question will make it clear when this is so.

Any question with an asterisk is compulsory, although you are free to answer 'not disclosed' or similar.

*If completing multiple surveys you may need to clear your browser cache each time - see how to do this here: http://www.wikihow.com/Clear-Your-Browser's-Cache

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* 1. Please give us your details, this is NOT a compulsory question but WILL help as we can then inform you of any legal or compliance developments with regard to any specific answers given.

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* 2. What bank is or was your loan/s with? (Select multiples if more than one)

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* 3. What is your home postcode (this will tell us who your MP is) Enter at least the first part

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* 4. What is your business postcode ? (Again the MP for this area may be able to help)

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* 5. What is the nature of your business? (Select multiples if more than one)

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* 6. Business structure?

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* 7. Is your business still trading?

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* 8. Turnover of YOUR Business (now or at time of sale/closure)

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* 9. Total size of loan?

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* 10. Did your "Fixed" loan replacing an existing "Variable" loan? Tick all that apply

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* 11. How much has your business been affected by the fixed rate loan?

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* 12. What terminology have the bank used to describe your loans? Tick all that apply

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* 13. There were often TWO 'loan interest' elements to a fixed rate loan, the base rate plus a margin. What is your understanding of this for the initial 'fixed' loan term? (Tick all that apply)

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* 14. What rate of interest was your loan “fixed” at? ie 5.1% (rate) plus 2.25% (margin)

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* 15. When your loan was 'fixed' by the Bank, you should have received a 'treasury call', this is vital and has to be conducted by the bank compliantly.

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* 16. Do you think that the breakage fee was adequately explained?

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* 17. At the time that you signed the loan agreement, what was your understanding of the MAXIMUM size of any potential breakage fee? (i.e. if you remortgaged/changed lender/sold property subject to the loan)

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* 18. At any time before the loan was agreed did you receive any projections showing actual figures for the potential size of the breakage fee?

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* 19. Did you feel under any pressure from the bank to fix your loan/s?

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* 20. Were you aware that bank and it's employees who sold you the fixed-rate loan may have earned very large commissions on the sale?

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* 21. Did you ever enquire about “break fees” AFTER you took the loan out if so, what was the largest amount that you have been offered/quoted? (as %?)

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* 22. If you were given a "break cost" figure after you took the loan out was this

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* 23. Who “sold” you the Fixed Rate Loan? (Tick all that apply)

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* 24. If someone other than your Relationship Manager was involved in the sale then how was this person introduced to you?

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* 25. How long had you known your 'Relationship Manager' for?

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* 26. Whose idea was it to fix your loan/s? Was it your idea or did the bank suggest it?

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* 27. Did the person selling you your loan warn of higher rates to come? or talk of “present historically low rates”? (tick all that apply)

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* 28. When you took out a fixed rate loan, did any of the following statements apply? (Tick all that apply)

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* 29. Did your bank give you standard product literature? Have you kept it? Were you referred to information on bank’s website? Choose all that apply.

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* 30. Did the bank ever suggest 'combining loans' i.e. rolling two or more loans into one? Check ALL that apply

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* 31. Has the rate on your loan been changed by your bank since you took out the fixed rate loan?

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* 32. Since you took out the fixed rate loan, what fees or charges has the bank applied to your acount?

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* 33. Have you made a Subject Access Request to your bank?

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* 34. If the bank has sent you the data that it holds on you are you

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* 35. At the time you took out a fixed loan, did you take out any additional insurance products i.e. life insurance at the bank's request?

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* 36. What other “representations were made as to the nature of the 'fixed' loan product you took out?

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* 37. Did the bank use any 'terms' like “regulated by FSA” (now FCA) on any paperwork or emails to you?

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* 38. What other “representations were made as to the quality of service provided by bank (ie BBA Banking Codes, FSA Treating Customers Fairly initiative?

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* 39. Since you took out a fixed rate loan, has the bank fully explained the loans to you and how break costs are calculated?

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* 40. Have you made a formal complaint to the bank?

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* 41. Have you complained to the Bank? Please check ALL that apply

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* 42. Have you complained to the Financial Ombudsman Service?

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* 43. If you have complained to the Finanacial Ombudsman Serive (FOS) then tick all that apply

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* 44. Have you discussed any matters concerning this issue with the MP for where you live or at your place of work?

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* 45. Have you had legal advice?

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* 46. If you received legal advice select all that apply

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* 47. What characteristic of your loan product has caused the greatest problems in your business?

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* 48. Are you willing/able/committed to be a case study?

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* 49. Do you belong to any of the following organisations

The information from this survey is essential for our lobbying so thank you for completing it. If you know of others who may have these products then please ask them to complete the survey as soon as possible - if you belong to networking organisations such as LinkedIn then please ask ALL your contacts to look at the survey and complete it if appropriate.

If you have submitted a FOS complaint in the past that has been rejected then it is important that you get in touch with the Bully Banks Hidden Swaps Team. It could now be possible for you to submit a new complaint that may be assessed more favourably.

Finally - please join Bully Banks www.bully-banks.co.uk and/or the NAB Customer support group www.nabcustomersupportgroup.org. Just put those names into Google. We can then keep you up to date on developments.

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