Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
May I ask if the bond fees were explained to you fully when you took out the bonds please?
Were these taken out through Lloyds TSB as it was at the time or another bank?
hello joshua,no,at no time were any bond fees discussed at all,only risk levels--low--medium---&high and their corresponding yield.sMy wife & I travelled over toLloyds sutton business branch to discuss the signing up of these bonds,rather than he came to caterham. regards XXXXX
For the avoidance of doubt was this Lloyds TSB or another financial advisor called Lloyds?
I can confirm that it was Lloyds TSB
Based on what you say this appears to be a case of potential misselling of the product either on the grounds that the risks were not properly explained to you or that the fees proposed were not explained to you or both.
Initially you will wish to consider raising the issue as a formal complaint to the banks complaints department on the above basis. They must respond to your complaint as provided for by their complaints procedure. If you are not satisfied with their response, you can refer your complaint to the Financial Ombudsman who can independently investigate the banks actions and documentation as to the advice given in respect of the product including its suitability for you and if it finds in your favour make an order of compensation to paid to you.
The bank is bound by the Ombudsman's decision. There is no charge for their service.
Is there anything above I can clarify for you any further?
Does the above answer all your questions or is there anything I can clarify or help with any further?
Are you happy with the information I have provided to you above or is there anything above I can clarify for you any further?
I shall write to lloyds bank,explain that i have spoken to you and run your suggestions past them to see what their reactions will be. regards XXXXX XXXXX
If there is anything further I can help you with please let me know.