Breach of Mortgages

When a mortgage offer is made to a potential borrower this offer will specify the interest rate that applies to that mortgage. The borrower will accept this offer expecting to be charged interest at the rate specified in the mortgage offer. Given the complexities of calculating interest, the borrower puts their trust in the lender that the payments will be calculated correctly and in accordance with the agreement. Unfortunately, it has come to light that a large number of lenders have incorrectly calculated the interest and other charges due on the mortgage and consequently have charged the borrower more than they are contractually entitled to charge. This has resulted in some borrowers paying thousands of pounds in overpayments towards their mortgage which they are entitled to have refunded.