Can a mortgage lender charge you for their error?

Prudent

I am asking this question on behalf of a friend with no internet access. The Halifax building society wrote to him last week saying they had underchrged him by £236 since last January. They failed to raise his monthly repayment when rates when up. Now they want the money. Does he have to pay?

Thanks.

Dan_Collins_2

I would say yes, although I think that they will have to be understanding and fair when trying to collect the money owed. If he cannot pay in one lump then he should ask to add it to the mortgage or if he can clear it in stages.

dunstonh

the friend owes the money and will need to pay it. Although it can be over an agreed period.

Prudent

Thank you both. I will pass this onto him.