MSE News: Lloyds, Halifax and Bank of Scotland to pay customers £283 million...

Former_MSE_Megan_F

Almost 600,000 Lloyds, Halifax and Bank of Scotland customers who fell behind on their mortgage payments are in line for a payout totalling £283 million...

Read the full story:
'Lloyds, Halifax and Bank of Scotland to pay customers £283 million compensation over mortgage arrears'

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Sparx

I personally find this infuriating, individuals who can't manage their finances get another pay out for no good reason.

Because they weren't micro-managed by the lenders, the FCA see fit to do another spree of give the 'at-fault' person money back. Further trying to dampen the vision of banks (I don't work for one either) and they are all apparent con artists.

In this scenario I don't see how it's the banks fault. If individuals haven't paid their mortgage or managed their budget well enough, how is it down to them to ensure the payment plan agreed has been checked to the unwritten FCA standards?

Again I'm sure there are a few exceptions e.g. people in genuine financial difficulties through no fault of their own (serious health issues, job loss/redundancy etc) who should've had charges frozen and a better review. But people who are less willing and just completely care-free when it comes to managing their money - they don't deserve to get a payout for being an idiot.

LadyDee

You put into words my thoughts exactly.

And the latest - people will be complaining that they can't manage without alerts to warn them they are close to going overdrawn - what's the betting there'll be a campaign to refund their overdraft fees? No wonder we get such lousy interest rates - those of us who know what we can afford to spend are paying the price.