We BAN Mortgages & BAN Bank Debt?
An important point is made frequently all over this website, so it seemed fair to centralise the answer. Indeed this is the policy our group of companies because of how bankers behave. The founder of Argyll Group plc lost a friend to debt-suicide and confesses to having some scars on this issue. So here is the answer to those who may have asked the question as to why we ban bank mortgages and ban bank debt…
Bankers deprived children of enough lifeboats, then took their places to save their own baker skins.
A Bit Harsh?
Banker and shipping magnate Bruce Ismay set the trend…
To study how disgusting some bankers can be 90 years later…
We ban bank mortgages from being raised/registered on any of the buildings we own or that we project-manage for our shareholders.
We recommend you consider disposing of banks who conduct themselves in such a disreputable way as RBS. We tried getting some sense from RBS but their various departments require an urgent overhaul and continue to malfunction during 2021, over a decade from when RBS first became notoriously toxic. As a result we have little alternative than to recommend RBS customers move away from the toxicity of RBS and Natwest Banks.
You might like to give RBS PR man James Abbott a call to let him know why you are leaving the rancid organisation he works for. Simply copy this corporate PR man into the BBC Newsnight documentary and/or “RBS Dash For Cash” articles linked below.
Though we recommend you do what the banks do to you and tape the call. You will require to let Abbott know he is being recorded. Abbott knows precisely why we recommend customers do this. Abbott can be contacted: click here.
Better to Be A
Mortgage Free Man or Woman
Here at Scotslion and the Argyll Group we have found…
It is absolute bliss to be rid of ineffective banks.
They can take their neutered bank managers and plain awful, ex-directory business managers in their organisations away with them too.
They may as well not bother. The last business bank manager we dealt with was from the Royal Bank of Scotland. He approached us. At that point decades ago, we were in the unusual position of being a plc (public limited company) with no debt and no mortgages. The reason we had this bank-debt-ban policy is explained below. Our founding director lost a friend to debt-suicide and in our prospectus at that time we decided to try a novel way of business…
Do not borrow money from banks.
Be 100% shareholder owned and funded!
The RBS regional business manager that approached us, clapped eyes on millions of pounds worth of net assets (buildings) and offered us a 50% loan-to-value facility so that we “could grow quicker”.
On his word, we bid on a building that was for sale at around £50,000. When we eventually got through to this ex-directory RBS regional business manager, we were appalled to hear him backtrack. His word was worthless. So too was that of his festering bank.
This Amadán from the Royal Bank of Scotland plc had placed us in an invidious position. We did not know then that RBS employed crooks to set up hidden companies to steal from their customers by putting solid 100 year old firms into liquidation and grabbing the property of their customers to save their own worthless cowardly hides in the middle of the banking crisis.
The feckless regional manager was enough for us. Two telephone calls later to two of our HNW shareholders (here) and we rustled up the £50,000 to cover the concluded missives contract.
Beware: Banks will place you in harm’s way.
Banks have very expensive glossy adverts (paid for by you) with beautiful black horses and cuddly teddy bear gimmicks. But at he end of the day, they are Shylocks from Shakespeare and will cut you open for their pound of flesh.
Again you may think this harsh. If you haven’t already read the iconic play be William Shakespeare, we recommend it highly…
Shakespearian banker quotes: Click Here.
Our Company Structure
The former Argyll Group plc was effectively taken private by our core group of 552 former shareholders of Argyll Group plc (before it became Argyll Group Private Equity) and 33 high-net-worth individuals (Total: 585). The administrative and nominal company co-ordinating various acquisitions and refurbishments is Scotslion Ltd.
It should be noted that our policy is to establish a stand-alone dedicated company for each building that our group purchases. Therefore net asset value (NAV) profiling is challenging to external visitors. We are very happy to explain these details and protocols to folk wishing to reopen their own closed shops, industrial units and empty hotels.
A key principle is we ban all mortgages. Every project we undertake is ringfenced and 100% equity driven with no debt.
We manage the affairs of all our companies and projects due to some horrendous conduct that has left the banking industry with a badly tarnished reputation. Facts: click here and via BBC Newsnight…
This is why Scotlslion and Argyll Group Private Equity have banned any and all mortgages on company buildings and assets. We recommend you consider adopting this business practice too. It is very helpful to maintaining job security and keeping these crooked vultures away from your assets.
Once the project is completed and the renovated building is either sold to the tenant or one of our colleagues who are building up their asset-backed investment portfolio, we close the corporate vehicle within which sat the asset and the project income/expenditure. The paperwork is held for the statutory period. The Company Registrar is generally asked to bring companies that have completed their life-cycles to an orderly close (DS01).
Do We Have This Company Structure & Banking Policy?
In 1996 a friend of our founding director committed suicide through debt problems. There is little that words can do to relieve the raw distress of these tragedies on families and friends. The best we could think of was registering this charity to help others avoid going the way of our friend…
We ran the Creditcare Support and Debt Advice Association in its charitable format for 10 years. It was Gordon Brown who, in 2006 said “boom and bust was finished”. This is an abject lesson in why you should be sceptical about politicians (we are apolitical). On the word of the Chancellor of the Exchequer we did think the economy to be safe and brought the charity to an orderly close. Though it still exists legally, it is dormant and no longer on the charity commissioner’s register. We may resurrect the money advice charity depending on how bad the economic and job loss results of Covid become.
However, you may consider reading Shakespeare’s classic: “The Merchant of Venice”. Our founding director abides by the narrative of Shakespeare. Our original director and CEO of Argyll Group plc is also a former law officer who was instrumental in prosecuting and legally imprisoning miscreants in the UK judicial system.
Mr McLean is of the view shared by the Icelandic government as far as bank misbehaviour goes…
Either the banking industry, starting in the UK can clean up their act, or we recommend you grow your business without debt. It’s an old fashioned concept but this fact is incredibly reassuring…
The vast majority of businesses have good and bad years. If you have a mortgage with a bunch of crooks such as those employed at senior management positions in banks such as RBS, NatWest and Santander (as named by former business minister Sir Vince Cable), then as the links and video above show, your possessions may be seized by criminals who don’t even have the courtesy to wear facemasks and carry swag-bags. At least with Dick Turpin you got the swashbuckle glamor when you were being robbed. The current selfish Shylocks have no few redeeming features.
Whereas if you have NO mortgage nor debt and a rough year in business, you may have to eat beans for a few months, but you still have your assets at the end and most likely you get to keep your job and your house.
Simply take your business and your money away from the bent bankers until either they, or the UK Government clean up their act and get them to do what they are supposed to do…
Stop gambling with risky hedge funds using your money at 1% interest to you each year and instead, deploy those funds in asset backed newstart businesses.
We did and guess what?
During the first two decades and initial 38 businesses we mentored, only two have closed. One because the owner had a family disability issue that required urgent attention and the other was personal family circumstances too. Both re-opened within weeks with new folk at the helm. Both buildings are still tenanted. Both still employ staff. Both still have an amenity function to the local community.
The other 36 have gone on to fare far better. Why on earth banks don’t help new start-ups is beyond us.
We shall continue to advocate this segment and message on all of our websites and companies until the UK bankers clean up their act or move to Iceland. The country, not the supermarket.
Rant over. Feel better.
The Scotslion Team
Royal Bank of Scotland Banker Fred Goodwin
Stripped of Knighthood
^^^ Get This Sort of Gormless Greed-In-Tweed Out of Your Life ^^^
Our New HQ premises…
Free of Mortgage
(currently being renovated but still debt-free)
Abbey Studios Business Centre
280 High Street, Arbroath, Angus, DD11 1JF