The Telegraph published an interesting article today regarding the RBS overseas property lending arm in Natwest (award winning lending 2007) and the alleged sharp practice by a couple of employees. This involved introducing agents to prospective buyers who had been seeking finance by the bank and then demanding 25% commission from said agents when a Spanish property was purchased, to paid into their wives/spurious overseas property company accounts.

To make matters worse many of the buyers are now finding it difficult to keep up with loan payments and are finding themselves in negative equity overseas. The weak Pound against the Euro is not helping matters when it comes to their monthly charges. The buyers were all unaware of this colusion, as all the monkey business went on behind the scenes.

This matter is apparently being investigated and will give RBS a red face...........again.