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ARTICLE · 05 JULY 2016

Lender's Inconsistent Standard Terms Not Incorporated Into Contract

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The Court of Appeal has held that where standard terms were inconsistent with those set out in a mortgage offer for a 25 year "buy-to-let" interest only tracker mortgage, they had not been incorporated into the contract.

United KingdomFinance and Banking
Greg Standing
Greg Standing
Ian Weatherall
Ian Weatherall
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The Court of Appeal has held that where standard terms were inconsistent with those set out in a mortgage offer for a 25 year "buy-to-let" interest only tracker mortgage, they had not been incorporated into the contract.

We reported on the Alexander (as representative of the "Property 118 Action Group") v West Bromwich Mortgage Company Ltd case in February 2015. The details can be seen in our February litigation briefing. At first instance, the Commercial Court held that the two clauses in issue in the lender's standard mortgage conditions, which gave the lender the right to:

  • increase the variable rate of interest for any reason and
  • request repayment of the loan in full on the giving of one month's notice

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