Page 220 - Bank Case Studies

“The base value of the property would be calculated by

a valuer instructed by RBS and were typically

substantially below what customers viewed as a true

valuation. The PPFA would require the business to pay

to RBS a percentage difference between the base value

and the sale value or if not sold, then a revaluation at a

pre-determined date, whichever came first. So, if the

base value is calculated at £100,000 and I sell at
£250,000 and the PPFA requires me to pay 10% of the

increase in value, I would have to pay West Register

£15,000.” (15, 27)