Many thanks for your latest response.
The nature of our complaint revolves around misrepresentation of a business loan agreement and the inaccurate and by times incompetent, negligent, chaotic working practice demonstrated by the Bank over a number of years which has caused a lot of damage to both the Firm and our personal lives.
As for the misrepresentation of the business loan agreement I can highlight three main complaints, as already partly mentioned to you in an earlier mail
1). At the time the Bank forced an investor of ours (not being a Partner) to co-sign the loan agreement
2). Material Loan Terms and Conditions in connection with a property development project we had started in 2007 were not included in the agreement under Preconditions but put to the Firm at a far later date (months after we had signed)
3). Misselling of 3 (expensive) life-assurance policies, which the Bank had forced us (my Partner, our Investor and myself) to take out as part of their Preconditions for the loan to be granted (but, again, not included in the agreement)
As for how to proceed. I feel we should first go back to the Bank and issue them with all the relevant details of our complaint since they so far only have received a general description of the issues on hand.
Once we have received a formal position from the Bank in response to our complaint we can consider further action. The first step then would indeed be referring the case to the Financial Ombudsman before taking further legal action.
But at least we now know that we can still continue suing the Bank (Lloyds Bank, for your information).
Would there be anything else you could advise us at this stage, Alex?