The Sunday Times - How lenders are becoming more like credit card firms
Brokers have accused mortgage lenders of acting increasingly like credit card firms by introducing extra clauses into the terms and conditions of top deals.
Aaron Strutt at Trinity Financial, the broker, said: “Threatening to put borrowers onto the SVR for missing a payment is pretty extreme. More lenders are imposing credit card-type conditions on the mortgage market and borrowers need to read the small print to ensure they don’t get caught out.”
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