Commenting on the FSA setting out new rules to help protect homeowners who fall behind with their mortgage, Jonathan Stearn, Consumer Focus, said:
‘Homeowners who are struggling to meet their mortgage payments should not then be hit by disproportionate arrears charges, leading them further into debt. Lenders have a responsibility to treat customers fairly.
‘We are pleased that the Financial Services Authority is moving to stop charges being levied when a consumer is doing everything they can to keep to an arrangement with their mortgage provider to pay their outstanding loan.’
