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Have I been mis sold

bowman19
Posts: 5 Forumite
I used to have a limited company and banked with Barclays. I also had a commercial mortgage with Barclays in joint names with my daughter. (Deposit, renovation work paid for out of personal funds, this was to be our pension. i.e. rental).
In 2006 I put the company into voluntary liquidation. To my surprise, Barclays said they would have to close all of the accounts. Although the property mortgage was funded separately and could have continued. The ltd company was a separate venture.
It caused me a great deal of hardship and in the end we had to sell the property. Had I known this I would have sought an alternative mortgage provider and I certainly wasn't made aware that they would close all accounts, in the event the business failed.
Does anyone know if this sounds like a miss sell or a breach of contract. (meaning it wasn't in any agreement I signed)
In 2006 I put the company into voluntary liquidation. To my surprise, Barclays said they would have to close all of the accounts. Although the property mortgage was funded separately and could have continued. The ltd company was a separate venture.
It caused me a great deal of hardship and in the end we had to sell the property. Had I known this I would have sought an alternative mortgage provider and I certainly wasn't made aware that they would close all accounts, in the event the business failed.
Does anyone know if this sounds like a miss sell or a breach of contract. (meaning it wasn't in any agreement I signed)
0
Comments
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A bank is under no obligation to continue offering banking services to you and can withdraw services. Just as you can cease using them too.
Changing bank accounts is a pain but it would not cause a business failure.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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