Friday, 21 October 2016

Thousands Of Mortgage Arrears Customers To Get Redress

Hundreds of thousands of consumers in arrears on mortgage payments may be eligible for compensation, after a ruling by the regulator. The Financial Conduct Authority (FCA) has ordered lenders to work out who is affected, and how much they are owed. The problem has arisen where mortgage arrears have been automatically included in regular monthly payments. That has left some customers paying higher mortgage payments than they should have been. As many as 750,000 consumers may have been affected overall, but not everyone will be entitled to compensation. Read more on the BBC website.

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