Borrowers 0 – Lenders 3

There have been three judgments dealing with Consumer Credit Act test cases that lenders need to be aware of. Dealing with allegations of payment protection insurance premium mis-selling, mis-statement of APR rates and breach of the Insurance Conduct of Buisness Rules, the judgments are all in favour of the lenders.

These judgments are the latest in a line of robust judgments which should help curtail a number of claims being brought by borrowers, often encouraged by claims management companies. Wragge & Co's experts review and comment upon the cases.

Black Horse Ltd v Speak - PPI policy not a condition of the loan

Sternlight v Barclays Bank Plc - no mis-statement of interest rates

Harrison v Black Horse Ltd - compliance with the Insurance Conduct of Business Rules ensures relationship with borrower is not unfair.