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
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