A mortgage company data breach can be a daunting experience for anyone, and unfortunately, it’s becoming more common in the UK. If you’ve been harmed by the wrongful exposure of your personal data in a mortgage company data breach, you may be eligible to make a claim for compensation.
This guide will provide you with essential information on making a claim for a mortgage company data breach in the UK. You will find details on eligibility criteria, examples of a mortgage company data breach that could happen, and the types of damages you could claim for.
Mortgage companies hold a significant amount of personal and financial information, making them a prime target for cybercriminals. If a data breach occurs, it can result in significant losses and emotional distress for the affected individuals. Common types of mortgage company data breaches include hacking, phishing, and employee negligence as well as human error.
If you’ve been affected by a mortgage company data breach, don’t hesitate to contact an advisor for a free consultation. We are here to help you get the compensation you deserve.
Am I Eligible To Claim For A Mortgage Company Data Breach?
People who have been harmed emotionally or financially by a mortgage company data breach may be eligible to make a claim for compensation. However, there are specific eligibility criteria that must be met before a claim can be pursued.
Firstly, the personal information that has been breached must be considered ‘sensitive’ data. This includes information such as your name, address, date of birth, national insurance number, bank account details, and mortgage information. If any of this information has been disclosed without your permission, or without a valid reason, you may be eligible to make a claim.
Secondly, the data breach must result from the wrongful actions of the mortgage company or a third-party data services provider. This could include inadequate security measures, a failure to protect personal data, or a lack of employee training on data protection policies.
Finally, you must have suffered harm as a result of the data breach. This can include financial losses, emotional distress, or damage to your credit rating.
Time Limits For Mortgage Company Data Breach Claims
In the UK, there is a time limit for making a claim for a mortgage company data breach in accordance with the Limitation Act 1980. This time limit is generally six years from the date of the breach. However, in some cases, it may be shorter. If you believe you may have a claim, it’s important to act quickly to ensure that you don’t miss the time limit. If you’re unsure whether you’re still within the time limit, it’s best to seek legal advice as soon as possible.
What Data Protection Responsibilities Do Mortgage Companies Have?
In the UK, mortgage companies are subject to several laws and regulations when it comes to protecting the personal data of their clients and anyone else whose data they process, including employees. These laws are designed to ensure that personal data is processed securely, and individuals’ privacy rights are protected.
The main legislation that mortgage companies must abide by when it comes to data protection is the General Data Protection Regulation (GDPR) and the Data Protection Act 2018. Under these laws, mortgage companies must comply with several key principles:
- Lawfulness, fairness, and transparency – Mortgage companies must process personal data lawfully, fairly, and in a transparent manner.
- Purpose limitation – Personal data must only be collected for specified, explicit, and legitimate purposes.
- Data minimisation – Personal data must be adequate, relevant, and limited to what is necessary for the purposes for which it is processed.
- Accuracy – Personal data must be accurate and kept up to date.
- Storage limitation – Personal data must not be kept for longer than is necessary for the purposes for which it is processed.
- Integrity and confidentiality – Personal data must be processed in a way that ensures appropriate security, including protection against unauthorised or unlawful processing and accidental loss, destruction, or damage.
- Accountability – Mortgage companies must be able to demonstrate compliance with these principles.
In addition to these principles, mortgage companies must also ensure that individuals’ rights are respected, including the right to access their personal data, the right to have their data corrected if it is inaccurate, and the right to have their data erased in certain circumstances.
Examples Of Mortgage Company Data Breaches
The Information Commissioner’s Office (ICO) has reported several examples of mortgage company data breaches in the UK. Here are a few examples:
- Tesco Bank – In 2016, Tesco Bank suffered a data breach that affected 9,000 customers. Hackers were able to access customers’ personal data, including their names, addresses, dates of birth, and account numbers. The breach resulted in a £16.4 million fine from the ICO.
- HSBC – In 2020, HSBC reported a data breach that affected some of its mortgage customers. The breach occurred when a member of staff left a folder containing personal data, including names, addresses, and mortgage details, on a London street. The folder was discovered by a member of the public who reported it to the police. HSBC was fined £1.2 million by the ICO for the breach.
These examples demonstrate the potential impact of a mortgage company data breach and the importance of implementing appropriate security measures to protect personal data. If you’ve been affected by a mortgage company data breach, you may be eligible to make a claim for compensation. Get in touch to find out if you could claim.
How Much Compensation Could I Claim?
We recognise the harm that a data breach can inflict on both individuals and businesses. That’s why we specialise in data breach claims. Our panel of experienced solicitors can handle your case without any upfront fees by using a Conditional Fee Agreement (CFA).
The CFA sets out the terms of our agreement, including the capped percentage of compensation the solicitor will receive upon winning your case, as stipulated by the Conditional Fee Agreements Order 2013. This ensures that our clients receive transparent and equitable compensation for their data breach claims.
Our advisors are available to help you determine if you’re eligible for a claim under a CFA and assess your case. If you are eligible, we could connect you with a solicitor who could take you through the claims process. Furthermore, they could work to obtain the compensation you deserve.
Get in touch with us today via phone, email, or our online form to begin your claim. Our team is dedicated to achieving the best possible outcome for your case.