City Of London
Co-Op Bank Brings Challenge Against ‘Mortgage Prisoners’ Probe
- UK lender in judicial review of Financial Ombudsman case
- So-called mortgage prisoners can’t change their providers
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The Co-Operative Bank is bringing a legal challenge against a review of a customer’s past mortgage interest payments, in a case that could set a precedent for 200,000 British borrowers.
A judicial review at London’s High Court Wednesday will consider whether the Financial Ombudsman Service can investigate a complaint about the fairness of the interest rates that the lender charged customer Gwen Davies.