Our client had a business that went into insolvency during the recession. The client had about £1m of bank debt in his personal name, secured against property assets.

He set up in business again and continued to make the repayments on his personal facility. However the company insolvency resulted in his personal loan being transferred to the bank’s restructuring unit, which imposed substantially increased charges.

Following AFT’s involvement, the bank placed the loan on a longer-term facility and the quarterly management fee was cancelled – a client saving of ₤110k.