The challenge
A major high-street bank identified historical issues with equity release sales and needed to recalculate redress for several thousand affected customers. The scale and complexity of the portfolio made it critical to deliver accurate and defensible calculations to support strategic planning.
Our approach
TCC developed a bespoke calculator that reproduced actual mortgage cash flows and generated a notional mortgage representing what should have happened.
Fees and payments were rolled forward to determine refunds due, with extensive testing conducted to ensure accuracy to within a 10p tolerance. This approach allowed redress to be calculated precisely across the entire customer base.
Outcomes
By combining technical modelling expertise with rigorous testing and validation, TCC’s experts enabled the bank to produce defensible redress calculations covering tens of millions in exposure.
This gave the client confidence in understanding the financial impact of legacy liabilities and informed strategic decision-making with clarity and assurance.
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