Loan Brokers - Reclaiming Bank Charges For Your Clients

There are 10000s of people in the UK who are eligible for a bank charges refund. In day to day general business loan brokers and introducers may discover such cases but do not refer them as it seems like an impossible challenge. Send them across and earn some of the best commissions for reclaiming bank charges within the industry.
How is this possible to get back these unfair bank charges?
It is estimated it costs the bank between 2 and 4 to send an automated letter. But they then charge the customer 30. This is a disproportionate charge.

Do you think that is fair?

The Office of Fair Trading doesnt either. It is deemed any charge above 12 is deemed as unfair. This is also covered in Supply of Goods and Services Act 1982. Which means only reasonable charges can be charged for a service. And as proven by the OFT 30 was never a reasonable charge.

Prospective clients looking at claiming for a bank charges refund could have 100s of charges in the past 6 receive 1000s back years so could in a refund.

Why only 6 years?

In UK law there is a statute of limitations which it respect of the unfair bank charges means that anything older than 6 years is to old to be claimed against.

Other reasons a client can claim for an unfair bank charges refund?

Also with the unfair charges applied to peoples accounts it was causing people to get further and further into debt. By the bank putting charges on charges it meant some people were unable to clear their overdraft. This was deemed as unreasonable actions by the banks. Hence you will notice most banks have now changed how they are charging people or even putting caps on charges.

Financial hardship is another key factor for making a claim for a client. If someone was struggling to pay their priorities such as mortgages, electric, gas and this can be shown people are also eligible to reclaim unfair bank charges. With proof this is a strong case for a refund as the unfair bank charges would have been a contributing factor to a persons financial hardship.

About the Author:
UK Money Solutions offer mortgage brokers,loan brokers, other finance professionals and ,introducers the opportunity to combine the reclaiming of bank charges with other services for your clients if required and pay some of the best commissions in the market. If you would like further information then please contact us on 08000748059.

Article Originally Published On: http://www.articlesnatch.com

Tags: introducers

, loan brokers

, bank charges refund

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