Mortgages as part of an 'All–in–one'
account

Intelligent Finance, a division of Halifax Plc

What did we think was unfair?

A term allowed the firm to increase a charge, but did not specify what the valid reasons were for doing so, or allow customers to exit the contract freely.

Why did we think it was unfair?

It was not clear to customers why the charge they had to pay would be increased. It also appeared to give the firm freedom to use any reason to increase it, even if it was not connected to the mortgage or to the redemption of the mortgage.

What has the firm done?

They have deleted this term, and no longer have the right to vary charges without first specifying what the valid reasons are.

Old term

'We can change the amounts we charge you, make new or different charges and change the way you have to pay charges. We may do this to reflect changes to the cost of doing the work or providing the services' … 'or for any other valid reason'.

What next?

Read more agreements from firms – see Unfair contracts.

Read more about Mortgages.

Read more about our work on Unfair contract terms.