Consumer Confidence In Banks Is Decreasing Due To Lack Of Trust

This Weeks guardian reporting on Goldman Sach and huge rumoured bankers bonuses have again bought into the eye of the public domain the precedence of the bank scandals which nearly rocked the UK Economy had it not been for government intervention.

The backlash and anger of unsatisfied customers is still visible with media reports of consumer confidence hitting a low ebb and consumer surveys suggesting decreased trust in banks.  Many consumers are stuck in a battle with the banks to reclaim bank charges and mis sold ppi that they have incurred unnecessarily since it has become publically aware that the banks have been selling inappropriate financial products.

If the banks were aware that they were not providing the most suitable mortgage to consumers and which may be financially advantageous to the consumer, then they must have been aware that there mortgage advice was not suitable or was misleading and in turn their mortgages were not deemed fit or appropriate and nor were their practices, nor were they exercising within FOS or FSA legislation which made the mortgage agreements improper known as mis sold mortgages.

The impact of the mis sold mortgages is crucial to the consumer and so the backlash seems appropriate when in light they are the unfair victim to the banking giants and left to pay the price for the banker’s blunders.  This was no more the case with the infamous RBS bank crisis which was resolved by the taxpayer bailing out the bank at the cost of owning 83% of it.

The rise in compensation claims for mis sold mortgages has arisen from unhappy consumers who have been sold mis leading mortgages.  More consumers are becoming aware of the  much publicised mis sold mortgages fiasco and that they have been on the receiving end of the banks` ruthless manner.

Many consumers are becoming aware that they are able to claim back any unfair charges they have paid in lieu of their mis sold mortgages and are seeking to recover these costs.

If you feel you were mis informed, misadvised or are just unsure about your mortgage package no matter what type of mortgage you have then you too should look to get specialist advice on it.

Victims To The Banking System Due To Mis Sold Mortgages

In all that we have heard in the past week from the banks and the Treasury about their latest banking reforms, there has been no word for the unlucky borrowers who have been co-erced by the banks into buying mis sold mortgages. In all that the Treasury spoke of there was no light at the end of the tunnel for those victims. At best they are able to recover costs relevant to the mis sold mortgages through independent claims companies, for which the Coalition is making no changes.  It seems the Treasury are busy discussing curbing the bank bonus crisis and concentrating efforts on their obsession with reducing the deficit, which seems the crux for all their recent reforms.

So where do we go from here? Are we the borrower to remain victim to the banking system or seek to free ourselves from their clasps and seek recovery from the mis sold mortgages ourselves, any way we can? If going to claims companies set up in light of the mis sold mortgages is our only hope then we must see them as our only refuge.

The Unfair Bank Charges Crisis - Where Did It All Go Wrong?

Stop Bank Bashing!!  That is the clear message the government and top Chief Executives speaking at Davos 2011 had for us this week.  Speaking at the World Economic Forum, one of the top executives is reported in the Guardian as stating that Bashing Banks is unfair and he complained  that the Banking Industry is "being tarred with the same brush" and that "the industry will not bend down and accept abuse", adding that the Bankers have become "political whipping boys" as result of the recent bank scandals.

Are we being hard hitting in throwing accusation at the banks whilst we still face the wrath of their economically disruptive actions?

With the economy ending on an all time low at the end of last year and, with reported decreases in house prices, slow economic growth and higher taxation resulting from higher VAT charges it is no wonder that people continue to blame the Banks for the global economic meltdown.  And to add salt to their wounds, they are facing unwarranted bank charges stamped on them by the greedy bankers.

Even with the FOS charging banks huge fines like the £7.1million fine slapped onto Alliance and Leicester in 2008 for mis selling PPI, it is known that the banks continue to add unethical unfair bank charges at their customers in the form of unfair administration charges and extra charges on credit cards and loans which were unwarranted and not rendered fair by the FOS OR FSA.

In a time when house prices are decreasing and living expenses are increasing in lieu with the new Government coalition, aren`t we, the customer right in blaming the banks and lenders and having a go.  We would also be right in being awarded back the charges we have unduly faced . 

At bankcharges.com we have specialist information that can help you do just that. Call us today and we will claim back these extra charges you have paid and get the money back from the bankers` pocket into yours.