Promontoria / NAB / CB contracts
1. Have each of the individual loans transferred been detailed in the contracts?
Refer to Mr & Mrs Burns v One Savings Bank of 30th March 2017 :-
2. Does Promontoria hold a banking licence?
Are those customers who have had current accounts transferred affected?
Was Promontoria able to purchase current accounts from Clydesdale Bank?
Was much of the transferred debt "packaged" as "non current account" when the
reality is that much of the transferred debt consisted of current accounts requiring
Promontoria to hold a banking licence?
3. Was the transfer of the customer's loan undertaken by a Deed of Assignment or via Deed of Novation? What is provided for in the T&Cs? Redacted copies of the deeds of transfer are provided above.
T&Cs in respect of a typical overdraft :-
4. In the case of Tailored Business Loans, was the provision for transferring the loans
detailed in the T&Cs, a separate document to the Facility Letter? Were customers
provided with a copy of the T&Cs at the time of (or prior to) drawdown, or were
they provided only retrospectively, well after the issue of the loan, pehaps in response
to a retrpspective request from a customer in response to the discovery of a market
calculated break cost?
5. Was your fixed rate mis sold?
6. Were you threatened with or charged an unenforceable break cost?