Hi °C | Lo °C Around 2,000 mortgage customers who were unfairly treated by their lender are in line for a slice of a £2m compensation payout.
Cheshire Mortgage Corporation (CMCL), which lends to people with poor credit histories, was inconsistent and overcharged customers in arrears, the financial regulator found.
It also failed to properly assess how affordable its mortgages were for some customers, between 2004 and 2009.
The Financial Services Authority has fined the Cheadle-based lender £1.225m over the failings and ordered the £2m redress for affected customers.
