The hunt for redress: mortgage prisoners and potential implications for financial institutions and their insurers

Stuart Maleno and Dakota Glasgow-Simmonds of Clyde & Co comment on a group action currently being spearheaded in the UK by law firm Harcus Parker on behalf of over 200,000 borrowers who allege that the defendant lenders failed to treat them fairly, and anticipate further similar claims to be brought in the near future given the quantum of potential damages and the fact that some litigation funders are reportedly already alert to this “mortgage prisoner” issue. Read more.