RE: Marshall Wace6 Jan 2025 02:05
QBArtist. Shorters don't have to be right all of the time, just most of the time. The smart ones will take a long term pragmatic view, and no doubt seek independent legal advice to "Guess" the court outcome. No doubt, they would prefer a "Provident Financial" meltdown, now rebranded Vanquis Bank outcome. Ironically, at a later stage "Provident Financial" worked closely with the FCA (Financial Conduct Authority) to prevent similar problems occurring in the future, however, this was still not good enough! My thoughts on the matter? "Unfair and Unjust". Vanquis bank are not doing very well at all. If you examine a "Mortgage Illustration" given to a mortgagor (borrower), they are all in exactly the same format, no matter whom the lender might be, ensuring absolute transparency. I believe this must be the way forward for future car loans. It would save a lot of legal uncertainty, and, detrimental to shareholders whom ultimately pay the price.