Can I Claim Compensation For A Mortgage Broker Data Breach?

Following a mortgage broker data breach, you might suffer mental harm and loss. A security incident of this kind could leave you questioning, “is it worth having a mortgage broker?” However you are feeling, our team at Data Breach Compensation Expert are here to help.

A guide on claiming following a mortgage broker data breach

In this guide, you will learn how you could sue a mortgage broker following a data breach. You’ll also find out how you could get the maximum compensation you might be owed and why a No Win No Fee agreement could help you.

Our advisors are trained to support victims of data breaches. They can offer a free consultation of your case with no obligation. If your claim is valid, they may connect you to our panel of data breach claim solicitors. For instant connection, use our live chat function. Otherwise, call the number above or request a callback and we’ll call you.

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Guidance On Claiming Compensation Against A Mortgage Broker For A Data Breach
What Is A Mortgage Broker Data Breach?
Examples Of Data Breaches Involving Mortgage Brokers
How Much Could I Get For A Mortgage Broker Data Breach?
Criteria To Get A No Win No Fee Agreement
Further Information About Mortgage Broker Data Breaches

Guidance On Claiming Compensation Against A Mortgage Broker For A Data Breach

In order to claim for a mortgage broker data breach, it would be useful for you to understand the legislation in place to protect you. The UK General Data Protection Regulation (UK GDPR) governs how organisations should process an individual’s personal data. The UK GDPR sits alongside the Data Protection Act 2018 (DPA), a national law that aims to prevent the unlawful processing of personal data.

There are several key principles of the UK GDPR that could result in a data breach if neglected by a data controller or data processor. A data controller decides why and how data is collected, whilst a data processor may process data on behalf of the controller. They should abide by the following principles:

Use personal data in a fair, lawful and transparent manner
Organisations should only store relevant personal data that is necessary
Keep data updated as and when is necessary
Only use data for the purpose specified to the data subject
Organisations should safely dispose of data
Use adequate safety measures to process and store data

For a data breach claim to be valid, you would need to illustrate that an organisation’s positive wrongful conduct caused the data breach. For example, poor online security might’ve allowed hackers to access your personal data. You’d also need to show that you suffered psychiatric damage or financial harm, or both, as a consequence. If you can do this, you may be able to claim GDPR compensation. Speak to an advisor for more information.

What Is A Mortgage Broker Data Breach?

Data protection law is enforced in the UK by the Information Commissioner’s Office (ICO), an independent authority set up to protect information rights for individuals and organisations. The ICO defines a personal data breach as a security incident which causes the unlawful or accidental loss, destruction, disclosure, alteration of or access to personal data.

However, if a mortgage broker data breach occurs, you must be able to prove that positive wrongful conduct has occurred on behalf of the mortgage broker. Additionally, you will have suffered harm or monetary loss as a result of the data breach. If you are unsure whether your claim is valid, our advisors can offer a free, no-obligation consultation.

Examples Of Data Breaches Involving Mortgage Brokers

Cybercriminals may target mortgage brokers because they store sensitive personal data on clients, including their employment details, their income, outgoings and other household information. However, human errors can also cause data breaches, for example:

Incorrect disposal of paperwork: Mortgage brokers may keep your personal data on paperwork; therefore they should correctly dispose of paperwork to avoid personal information falling into the wrong hands.
Verbal disclosures: A mortgage broker may call you to discuss information. If they do this outdoors and not in a secured environment, someone may potentially eavesdrop and could hear something regarding your personal data.
Data emailed to the wrong person: If a mortgage broker does not double check your email address, they could send sensitive information to the wrong recipient.

Data Breach Statistics For 2022

In the latest data security incident trends, the ICO found that the land and property sector had recorded 97 incidents in the 3rd quarter of 2021/22. Out of those incidents, 54 were non-cyber whilst 43 were cyber. Furthermore, in that quarter, the ICO recorded 2,404 security incidents from all sectors.

Our panel of solicitors are trained in dealing with data security incidents and could help you get the data breach compensation you may be owed. Get in touch for more information.

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

You could be able to claim for non-material damage following a mortgage broker data breach. This covers any psychological injuries you have suffered such as anxiety or post-traumatic stress disorder. Previously, you could only claim for financial losses caused by a breach, but following Vidal-Hall and others v Google Inc (2015), the Court of Appeal ruled you don’t have to have suffered financial loss in order to claim for non-material damage.

Solicitors use a document known as the Judicial College Guidelines to value injuries based on awards given for similar injuries in previous court cases. We are able to estimate how much you might receive for a data breach using the 16th edition of the JCG.

Injury	Compensation Range	Notes
Severe Psychiatric Damage	£54,830 to £115,730	You may be unable to cope with aspects of your life.
Moderately Severe Psychiatric Damage	£19,070 to £54,830	Your ability to work is severely impacted.
Moderate Psychiatric Damage	£5,860 to £19,070	While symptoms continue, the prognosis is more positive.
Less Severe Psychiatric Damage	£1,540 to £5,860	The prognosis is expected to be much better than in above injury brackets.
Severe Post-Traumatic Stress Disorder	£59,860 to £100,670	You may be unable to work as a result of ongoing symptoms.
Moderately Severe Post-Traumatic Stress Disorder	£23,150 to £59,860	You are likely to be at risk of significant disability in the future.
Moderate Post-Traumatic Stress Disorder	£8,180 to £23,150	A recovery is expected despite symptoms continuing.
Less Severe Post-Traumatic Stress Disorder	£3,950 to £8,180	A full recovery is expected to be made within a year or two.

Material Damage

Another head of damage you could possibly claim for is material damage and refers to any loss of possessions caused by your mortgage broker data breach. For example, financial losses may include:

Loss of earnings: You might need time off work following a data breach, causing you a loss of earnings. You may use a wage slip to prove this type of loss.
Prescription fees: A data breach may cause you to suffer from anxiety, therefore you may need a prescription. Keep hold of prescription receipts to prove this expense.
Damage to your credit score: If a cybercriminal gets hold of your personal information, they could commit identity theft and make illegal transactions in your name and damage your credit score in the process. Therefore, it would be useful for you to keep hold of bank statements to prove unauthorised transactions.

Get in touch with Data Breach Compensation Expert for a more accurate estimate of what your potential settlement amount could be. Our advisors can offer an estimate following a free consultation of your claim.

Criteria To Get A No Win No Fee Agreement

If you are seeking a more feasible way of funding legal representation, then a No Win No Fee agreement could benefit you. Solicitors that process claims on a No Win No Fee basis are only paid their success fee if you win a settlement. Furthermore, if your mortgage broker data breach claim is a success, the success fee is capped by law.

Another benefit of using a No Win No Fee solicitor is that you don’t have to pay them an upfront fee for their services. To avoid hidden costs, your solicitor should agree all costs with you before proceedings begin.

Ask About Making A Mortgage Broker Data Breach Claim

Our panel of personal injury solicitors operate on a No Win No Fee basis. This is because they want the best for you. Here at Data Breach Compensation Expert, we don’t think any financial barriers should stop you from making a mortgage broker data breach claim. Benefits of using a solicitor from our panel include:

Medical assessment: Our panel of personal injury solicitors may arrange for an independent medical assessment to prove the extent of your psychological injuries. They can potentially arrange for a medical assessment near you so that you don’t have to travel far.
Expert knowledge: A solicitor from our team is trained and will have vast experience and knowledge to help you cover all bases of your claim.

You can request a call back by scrolling to the top of this page and filling out a form. Alternatively, you can:

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Use our ‘make a claim‘ form now

Further Information About Making A Mortgage Broker Data Breach Claim

Before we conclude our guide on making a mortgage broker data breach claim, we wanted to share some resources that may come in handy.

Financial Conduct Authority (FCA) – The FCA regulates mortgage brokers in the UK.

Make a complaint – How you can complain to the ICO.

Guide to the General Data Protection Regulation – The government offers guidance on the UK GDPR.

Other Data Breach Guides

That concludes our guide on mortgage broker data breach claims. We hope you get the compensation you deserve. Speak to our team to see if we can help you.

Writer Lewis Jaques

Publisher Ruth Voss

Mortgage Broker Data Breach Claims