Landmark White dismissed its suspension by two of the country's largest banks and said if any other mortgage lenders followed suit in the wake of a second data breach it would only reward what it called "the criminal attempting to damage LMW’s reputation".

But the troubled valuation firm, which suffered a further 16 per cent slump in its share price on Monday, provoked the anger of peers when it said if other lenders followed suit due to the acts of a criminal, it would also put the viability of the wider valuation industry into question.