Do the mortgage failures affect the banks????

mollymoo · 5th February 2007, 12:01

Hi,

having seen that certain claims against mortgage companies have gone to court and LOST, and also incurred costs against the claimant, i was wondering if this is likely to spill over into the claims against the banks.

Having recently started a claim against lloyds for my brother, he is worried that the banks may follow suit, go to court and win, and thereby incurring costs against him that he cannot afford.

can anyone shed any light please?

cheers

GuidoT · 5th February 2007, 13:45

I am not sure about the specifics of these mortgage claims, however:
a) Generally you do not have an exposure to the other sides costs if your claim is <£5K and vice versa
b) Courts are reluctant to order cost to litigants in person where the other side is represented
c) If you follow the steps detailed in this site your exposure to costs should be mitigated (preliminary letter, LBA etc.)
d) You should not loose

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