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How much compensation will Northern Rock 'mortgage prisoners' receive if they win the case by end of 2024?
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Resolution / Starting Odds
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Publicly available legal documents, official statements from legal representatives
Story
Northern Rock 'Mortgage Prisoners' Sue TSB Over Loan Exploitation, Seek £30,000 Compensation
Jul 23, 2024, 05:17 AM
Thousands of 'mortgage prisoners' who were borrowers from Northern Rock are suing TSB, the high street bank that acquired their loans through a subsidiary. These borrowers, who were unable to move to lower interest rates or leave old deals after the collapse of Northern Rock in 2008, allege that TSB exploited them. The case will be heard at the high court today. There is a possibility that the affected borrowers could receive £30,000 in compensation.
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