With an estimated 60,000 Fixed Rate business Loans (FRBLs) sold, this is potentially a bigger problem for the banking industry than the widespread mis-selling of standalone interest rate hedging products where there are an estimated 40,000 products sold. FRBLs have also not been included in the FCA IRHP Review Scheme and banks that sold these products are assessing mis-selling complaints separately to those interest rate hedging products in the Review Scheme.

What is a Fixed Rate Business Loan?

Obligations of the Adviser or Sales Person for Fixed Rate Business Loans

How was this service mis-sold?