How the Major Banks Operate
RBS/Natwest
More often than not, these are easier personal guarantees to contest than other banks due to the rarity of positively ensuring that their customers get legal advice. They also tend to scan and/or microfiche documents rather than keeping originals.
They, like most banks argue vehemently that they are not required to keep originals so this matter has to be handled sensitively if you are not going to end up with having the expense and trauma of dealing with solicitors acting on their behalf.
They have a customer service centre based in Telford that deals with personal guarantee and overdue debt issues, which is often haphazard in their communications.
Lloyds
Their centre for dealing with most personal guarantee issues is in Bristol. Local bank managers normally send the first letter or set of communications and often try and get a deal done- however, they have limited power to negotiate.
Lloyds do the right things, by offering fixed repayment figures over periods of time as part of their demand or follow up letter. They also tend to perform better than other banks in preparing PG documentation, but don’t use that as a reason to cave in- they are by no means perfect!
