Mortgage terms, like the terms of other contracts between traders and consumers1, are governed by the Consumer Rights Act 2015 to determine whether they are unfair2. An unfair term in a mortgage contract is not binding on the borrower3, but this does not prevent the borrower from relying on the term if he chooses to do so4.
A mortgage term is unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations under the contract to the detriment of the borrower5. Whether a term is fair is to be determined taking
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234