Remediation support group for victims of RBS
Joined September 2019
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V-shaped recession with £218bn extra borrowing this year returning to normal deficit level in 2021 according to @OBR_UK. I think @RishiSunak and the business community would be very happy with this outcome.
Are banks really only set up to lend on the basis of personal guarantees?
A non-bank lender is pulling out of CBILS because they can't take personal guarantees under £250k. Wonder if that policy tweak has further reduced risk appetite of mainstream lenders too. Feels like structure of scheme is fundamentally inappropriate and wholesale rethink required
'A ban on banks being able to demand debt-risking personal guarantees'
UK SMEs slating the Banks! Read the Comments! dailymail.co.uk/news/article…
He should be made to sign a PG @4reform @janea216 @BankVictims2020 @LogicalThinka @Annjojen1 @mortgageprison @mp14mp @atulkshah @Julia04352962 @TariqSiddiqi @RBSlielikeadog @RBS_RemSupGroup @CYBG_RemSupGrp @BankSigForgeCam @Robber26017123 @nw_nicholas @CYBGHungrStrike
Banks issue credit (balance sheet figures) and then charge interest to make profit. Small businesses work hard, employ people and create wealth. Business families should not be asked to assume all the risk of keeping the economy going. That is what Personal Guarantees would do.
Would it be prudent for banks to hold off paying dividends just now? xitter.cf/BankVictims2020/status…
WHY are UK BANKS paying out 'BILLIONS' in DIVIDENDS over the next few weeks?
UK Banks set to lose 'BILLIONS' over #COVID19
#Times articles
1. bankingvictims.com/31-march-…
2. bankingvictims.com/30-march-…
#TuesdayThoughts #SelfEmployedMatterToo
@fortfield
@Hercules_petdog
@d_farndon
Thank you to existing NatWest/ RBS bank victims for joining the support group - including those who have already been through so called redress schemes.
More of the worthy people in banking will open up like this now. And welcome.
"We bailed out the banks in 2008 - now they're failing us"
by @jilltreanor and @peterevans10
thetimes.co.uk/edition/busin…
Bank victims are still here to warn about placing trust in the banks in this new crisis.
please RT and share
xitter.cf/BankVictims2020/status…
Bank victims must not be forgotten @bankofengland @JohnGlenUK
Interest rate errors?
Concessions from major lenders after backlash over government emergency business loans scheme, while Barclays apologises over interest rate error
thetimes.co.uk/article/banks…
rbsremediationsupportgroup natwest-rbs-rsg.com There are 000s of current 'legacy' issues still to resolve - and potentially more with current covid19 climate. Join in please.
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Agreed- the govt. expects that banks go after the business first and exhaust those possibilites before calling on the guarantor.
Many people will not believe this needs to be spelled out. Unfortunately it does, and absolute clarity about PGs is required.
No you have got the wrong way round They the govt expect that banks go after business assets before they the banks can call on the govt’s guarantee.So if bank does not think you have enough assets or security in your business They ask for PG if you do not have either?
Some banks reportedly still trying to profit from products with high interest rates and demanding homes as security when covid19 loans are requested.
Covid19 loans - reports (radio 4) now saying that the government as guarantor expect the bank to recover all possible monies from the business before the guarantee is called on.
A significant step for guarantors.
Shame on those banks still demanding that people's homes and families are used as security for covid19 loans.
Some would argue that banks have not yet shed their sullied reputation - now it seems they could be at it again. thetimes.co.uk/article/banks…
And it won't be you who decides. Can't warn people enough about bank lawyers who manipulate figures and facts.
Your business will remain liable for 100pc of the debt, and as a director you may well be personally on the hook for some of it as many lenders will ask for personal guarantees. Your personal home will not be at risk but other personal assets might be.