This briefing note first considers:
- the further general guidance on unfair terms issued by the FSA in January 2012 and its implications; and
- the specific guidance issued by the FSA at the same time on switching terms (that is to say, terms which permit mortgagees to convert an interest-only mortgage into a repayment mortgage).
It then includes some questions and answers on unfair relationships (noting that permission to appeal to the Supreme Court has recently been given inHarrison v Black Horse) and concludes with a short discussion of the impact of the Financial Services Bill on the Financial Ombudsman Service. These developments illustrate the shifting and (generally) widening boundaries of fairness as a source of substantive legal obligations for providers of financial services. Please click here to download this briefing note.
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