Bank of Scotland unfairly double billed customers says judge

clock

Bank of Scotland has been unfairly double billing customers who fell behind on their mortgages, a High Court judge in Belfast has ruled.

In a scathing verdict, Master Ellison said the bank's behaviour had been "unconscionable", the BBC reports. He said it had caused borrowers to be "plunged into depression". The findings could have implications for thousands of Bank of Scotland mortgage holders across the UK. The Housing Rights Service which took the case said if the bank's practice had gone unchallenged, many borrowers would have lost their homes. The bank is a major mortgage lender in Northern Ireland under the Halifax brand, and is ultimately owned by the Lloyds Banking group. The case focused on the way it...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Mortgages

Client conundrum: Mortgage overpayments versus investments

Client conundrum: Mortgage overpayments versus investments

1.4 million people will see mortgage deals end this year

Laura Suter
clock 22 February 2023 • 3 min read

Summer economic update: Sunak confirms stamp duty holiday in 'mini-Budget'

Mini Budget

Hannah Godfrey
clock 08 July 2020 • 2 min read

FCA sounds alarm on equity release advice

'Tick-box exercise'

Hannah Godfrey
clock 17 June 2020 • 1 min read