Payouts For Mortgage Broker Data Breach Claims

If you suffer because of a mortgage broker data breach, you might question, ‘Can I claim?’ No matter what you are feeling, if you have endured mental harm or financial loss as a result of a data breach, you could be entitled to seek compensation.

mortgage broker data breach

mortgage broker data breach

In this guide, we’ll discuss how to make a personal data breach claim and get the compensation you could be owed. We’ll also discuss what data protection legislation organisations should follow.

Our advisors understand how a data breach may affect your finances, which is why we offer free consultations with no obligation to use our services afterwards. If you would like to hear more, please get in touch via the following methods:

Choose A Section

  1. Can I Claim Compensation Against A Mortgage Broker For A Data Breach?
  2. What Are Mortgage Broker Data Breaches?
  3. Possible Data Breaches Involving Mortgage Brokers
  4. How Much Can I Get For A Mortgage Broker Data Breach?
  5. Ways To Get A No Win No Fee Agreement
  6. Further Guidance About Mortgage Broker Data Breaches

Can I Claim Compensation Against A Mortgage Broker For A Data Breach?

Both the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 (DPA) include provisions that allow data breach victims to seek compensation. 

You may seek compensation for ‘damage’, which can be defined as anything relating to your finances and mental health. It can be difficult to assess financial harm as the damage may not become apparent until years later. Therefore, it would be useful to have a data breach solicitor to assist you on all bases of a claim.

Additionally, when proving the extent of your psychological injuries, you may need to have an independent medical expert evaluate your mental health. A solicitor from our panel could arrange this. Furthermore, they would do their best to get your assessment as near to you as possible to save you travelling costs. 

In order to make valid GDPR data breach claims, you need to show that:

  • An organisation’s wrongful conduct (their failings) caused the data breach
  • Your personal information was involved in the breach
  • You suffered financially or psychologically as a result

If you would like to chat with our advisors about making mortgage broker data breach claims, they’re available 24/7. 

What Are Mortgage Broker Data Breaches?

Mortgage brokers may store personal data on a client, including their name, bank account number and salary. Subsequently, a mortgage broker data breach could have a severe impact on your finances and mental health. 

The Information Commissioner’s Office (ICO) is an independent body that enforces data protection law in the UK. The ICO defines a data breach as a security incident, caused either accidentally or purposely, that leads to the availability, confidentiality and integrity of an individual’s personal data being compromised.

If an organisation breaches data protection legilsaiton, they may face a penalty from the ICO. A data controller decides why and how personal data is processed and also sometimes processes personal information. On the contrary, a data processor is the organisation responsible for processing data on the data controller’s behalf.

Call for free legal advice and you could take one step closer to getting the data breach compensation you could be owed. Our advisors work around the clock to help.

Possible Data Breaches Involving Mortgage Brokers

Here are some example scenarios that could result in you suffering due to a mortgage broker data breach:

  • A mortgage broker may lose an unencrypted device containing your personal data
  • Your mortgage broker sends your annual mortgage statement to the wrong recipient even though they have your correct address
  • A mortgage broker doesn’t securely dispose of paperwork containing personal data 

What Are The Data Breach Statistics For 2022?

The land and property sector reported 110 data security incidents in the latest figures published by the ICO (4th quarter of 2021/22). Across the sectors, the most common data security incident was personal data being emailed to an incorrect recipient.

You might be unsure whether a security incident your [personal data was involved in warrants you the right to make a claim. Our advisors can offer some clarity and may connect you with a solicitor from our panel if you have a valid claim.

How Much Can I Get For A Mortgage Broker Data Breach?

Two cases have affected how much you might seek for a mortgage broker data breach. Firstly, the Court of Appeal case, Vidal-Hall and others v Google Inc (2015), ruled that you can now claim for psychological injuries without having to suffer financial harm from the breach. Before this case, you’d have to show that you suffered financial loss in order to claim for psychological harm.  

Secondly, in the case of Gulati & Ors V MGN Ltd (2015), the Court held that data breach victims that suffer mental harm should be compensated in the same way that personal injury victims are. 

Subsequently, we have taken compensation brackets from the April 2022 Judicial College Guidelines to show you what your settlement may look like. The document is used by legal professionals to value injuries. However, please note that the compensation ranges featured are just estimations and do not represent what you will definitely get if your claim is successful.

InjuryCompensation RangeNotes
Severe Psychiatric Damage£54,830 to £115,730You are unable to cope with all aspects of your life.
Moderately Severe Psychiatric Damage£19,070 to £54,830Your ability to work is severely affected.
Moderate Psychiatric Damage£5,860 to £19,070The prognosis is much better than in previous bracket ranges.
Less Severe Psychiatric Damage £1,540 to £5,860Everyday activities such as sleeping may be affected, however the prognosis is a lot more optimistic.
Severe Post-Traumatic Stress Disorder£59,860 to £100,670You are unable to return to work and your ability to function is not the same as pre-trauma levels.
Moderately Severe Post-Traumatic Stress Disorder£23,150 to £59,860A more positive prognosis is expected although significant problems persist.
Moderate Post-Traumatic Stress Disorder£8,180 to £23,150Although symptoms continue, you will have largely recovered.
Less Severe Post-Traumatic Stress Disorder£3,950 to £8,180Expect a full recovery to be made within one to two years.

An Explanation Of Material Damage 

Material damage refers to any financial costs, losses or damages inflicted by a mortgage broker data breach, such as medical expenses or loss of earnings. Therefore, it is important to keep hold of bank statements, receipts and wage slips to help you calculate and prove the extent of the financial impact caused by a data breach. 

It’s worth noting that you could potentially claim for any future losses too. For example, cyber criminals may sell your credit card information online, leading to additional losses down the line. That’s why it’s important to seek legal advice as a solicitor could help you cover all bases.

Ways To Get A No Win No Fee Agreement

Sometimes, people are afraid to use the services of a solicitor because they don’t want to suffer any further financial harm by potentially losing money on solicitor fees. We completely understand if you feel that way, but we want you to know that there is a more feasible way of funding legal representation. 

Our panel of solicitors provide a No Win No Fee service if you have a valid claim. Under a No Win No Fee agreement, you’ll only pay your solicitor for their services if your claim is successful. The fee you pay is legally capped too, therefore you don’t have to worry about being overcharged by your solicitor. If the claim fails, you don’t need to pay the solicitor’s fee at all.

Ask About Mortgage Broker Data Breach Claims

If you would like to find out if you are eligible to work with a No Win No Fee solicitor, you may request a call back using the form at the top of this page. However, you can get in touch at your own convenience. That’s why we operate our advice line for 24 hours a day. To get in touch, you can:

Further Guidance About Mortgage Broker Data Breaches

Thank you for taking the time to read our guide on mortgage broker data breach claims. We hope that you have found it useful and feel confident enough to seek the compensation you deserve. Here are some other resources that you might want to consider:

Guide to the General Data Protection Regulation – Government guidance on GDPR and how organisations should comply with data protection. 

Post-traumatic stress disorder (PTSD) – PTSD is an anxiety disorder that may be worsened or prolonged by a data breach. 

Action we’ve taken – Find out more about how the ICO penalises organisations that breach data protection laws.

Other Data Breach Guides

That concludes our guide on mortgage broker data breach claims. Please don’t hesitate to get in touch if you have any further questions.

Publisher Ruth Vernon

Writer Lewis Julius