203. Mortgage terms regarded as unfair.

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