PHOTO: STACY SQUIRES/STUFF The Court of Appeal has ordered ANZ to compensate Taranaki farmers Bill and Sharon Coomey over controversial interest rate swap loans.

A Taranaki dairy farming couple have won a compensation claim at the Court of Appeal against ANZ Bank over the loss of homes and farms.

However the amount Bill and Sharon Coomey will be compensated awaits a decision of the High Court. The couple have claimed damages ranging up to $6.29 million.

The Court of Appeal decision follows a High Court case in 2017, where the Coomeys said the National Bank, which ANZ took over in 2003, had failed in its duty of care towards them when it sold them controversial interest rate swap loans, but failed to warn them about how risky they really were.

When the Global Financial Crisis struck in 2008 the costs of the swap loans rose dramatically.