Intellegence finance

[dax]

Looking at the Financial Services Authority tonight I found many interesting articles relative to the differant groups within this forum. Ive pasted some info about Intelligance Finance here.

Intelligent finance:

Intelligent Finance, a division of
Halifax Plc, is a financial services firm which offers
mortgages together with other financial products in its
all-in-one accounts. Other products include savings,
credit cards, personal loans and a current account. One
of the terms in its overall terms and conditions
allowed it to increase a charge to consumers for 'valid
reasons', without first consulting them.
We viewed this as unfair to consumers with mortgages
because the firm did not specify what the 'valid
reasons’ for the increase in charges were in its
contract, or allow consumers to exit the contract
freely.
The firm has now deleted this term in relation to
mortgages and no longer has the right to vary charges
without specifying 'valid reasons' on these types of
mortgages.
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May be of use to someone to know.