It is easy to be wiser after the event.
During my case against the Midland Bank a Spanish Bank interventor told me something very interesting
Banks if they have a client asking for a loan they will tell that client to go and get a friend to give him a GUARANTEE. They tell the potential client "When you bring him to us we will persuade him to be your partner". I was advised that practice was not limited just to Spain but worldwide - It is banking practice. They want someone else to take the risk whilst they make the profit on, guarantor taking the risk at no charge either to the lender or the borrower. Does it sound fair?
After a death threat on the phone - someone speaking in Spanish - the Spanish so bad that is was another nationality. a Spanish Bank inventor from a different bank than the first advised me "If you are setting a precedent a bank is capable to take out a contract killing if by setting the precedent it is going to cost them a lot of money" The next day whilst walking in the street (Torremolinos) I had the symptoms of a stroke so I went to my doctor. He put it down to stress caused by the phone call when advised about it
The last request for a bank guarantee from me was refused - I was wiser after the event with the Midland Bank case. A friend was owed a large back salary. He went to the Spanish bank who offered to pay the back salary via the loan which his boss promised to repay. My friend was told by his bank "find a friend who has a property to garantee the loan" After my experience with the Midland Bank I refused him. It is better to loose a friend than you home isn´t it?
During my case against the Midland Bank a Spanish Bank interventor told me something very interesting
Banks if they have a client asking for a loan they will tell that client to go and get a friend to give him a GUARANTEE. They tell the potential client "When you bring him to us we will persuade him to be your partner". I was advised that practice was not limited just to Spain but worldwide - It is banking practice. They want someone else to take the risk whilst they make the profit on, guarantor taking the risk at no charge either to the lender or the borrower. Does it sound fair?
After a death threat on the phone - someone speaking in Spanish - the Spanish so bad that is was another nationality. a Spanish Bank inventor from a different bank than the first advised me "If you are setting a precedent a bank is capable to take out a contract killing if by setting the precedent it is going to cost them a lot of money" The next day whilst walking in the street (Torremolinos) I had the symptoms of a stroke so I went to my doctor. He put it down to stress caused by the phone call when advised about it
The last request for a bank guarantee from me was refused - I was wiser after the event with the Midland Bank case. A friend was owed a large back salary. He went to the Spanish bank who offered to pay the back salary via the loan which his boss promised to repay. My friend was told by his bank "find a friend who has a property to garantee the loan" After my experience with the Midland Bank I refused him. It is better to loose a friend than you home isn´t it?
