Bank agrees payout over mortgages that ‘ruined lives’

Out-of-court settlement reached with law firm acting for customers who have been left owing big sums

One of Britain's biggest high street banks has agreed a payout to settle a case involving unfair" mortgages - giving hope to thousands of people who have been left owing huge sums.

On the eve of a trial set to last six weeks, Bank of Scotland - part of Lloyds Banking Group - and a law firm representing 160 current and former customers reached an out-of-court settlement that means the bank will not face a public grilling.