Promontoria / NAB / CB contracts


Promontoria (Chestnut) contract 5 June 15 (version 1).pdf


Promontoria (Henrico) contract 5 June 15.pdf


Promontoria (Oak) contract 16 Sept 16 .pdf  





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 :-


    overdraft T&Cs - (section 6.2).pdf :-





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?




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