Shared appreciation mortgages (SAMs) are back in the press. This week Teacher Stern had the opportunity to feature on BBC Radio 4. On Monday’s You and Yours show, presenter Winifred Robinson highlighted the issue of SAMs. Claiming to help the ‘asset rich, but cash poor’, this product has, in fact, caused unparalleled hardship for many vulnerable consumers.  

It is great to see SAMs continuing to be a topic in the media, highlighting how wholly unfair these loans are from both a moral and legal standpoint and how the banks have, and continue to, disregard the duties they owe their customers.

At Teacher Stern we are representing 160 claimants in a case against the Bank of Scotland (part of the Lloyds Banking Group), with trial due to take place in January 2024.

You can keep track of our progress on our website.