Dear Kevin,

Many thanks for your input the other day regarding the abuse of Personal Guarantees. Your suggestion to look at the Lending Code was an interesting idea, which I have followed up (point 13 is particularly relevant in my case). In 2008, NatWest had signed up to the Business Banking Code – a precursor to the Lending Code.

I find that the personal guarantee, to which I lost my home, was subject to:

Lack of any written confirmation of terms for the ‘product’ at inception
Lack of required notice
Lack of disclosure under legal requirements
No adherence to professional risk assessment or ability to repay.

I am setting out these points to NatWest and I hope you will be interested in their response.

Project Heritage is continuing to press for the curtailment of personal guarantees in their current form – a practice which has become open to abuse following unsound precedent.

Best Regards,

Jane Farmer