Couple's loan 'con' triumph.
A COUPLE who sued a bank that penalised them for paying off a
mortgage early have been awarded pounds 5,000 damages.
Margaret and Allan Lewis Allan Sydney Lewis (December 12, 1941 in Colon, Panama) is a former professional baseball player. He was an outfielder and pinch runner over parts of 6 seasons (1967-1973) with the Kansas City/Oakland Athletics. were advised by Lloyds TSB Lloyds TSB Group plc (LSE: LLOY) is a banking and insurance group in the United Kingdom. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London. in 1988 to buy
their house with an endowment mortgage endowment mortgage n → hipoteca dotal
endowment mortgage n → hypothèque liée à une assurance-vie
endowment mortgage n → .
But when it became clear a decade ago that the endowment was going
to fall pounds 12,000 short, the Lewis's paid off their debt out of
their savings.
Two years ago they asked Lloyds for compensation because the
mortgage had been missold.
The bank offered them a paltry pounds 300 - and said they were not
as needy as some because they had paid off the mortgage.
Delighted Margaret, from Wickhamford, Worcs, said: "We feel
brilliant. It's a victory for the common people."
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