The West Bromwich Mortgage Company

The West Bromwich Mortgage Company is to refund £27.5 million to thousands of landlords who were overcharged. In September 2013 it announced a 1.9% increase to its tracker rate for landlords with multiple properties, even though the Bank of England base rate had not increased. The Appeal Court has ruled that the lender was wrong to do this and now they must contact and reimburse all affected borrowers.