Ruling expected in buy-to-let court battle
A financial specialist is waiting to hear whether he has won the latest round of a legal battle with a mortgage company which, he says, could affect around a million people who own buy-to-let properties.
Mark Alexander, a former mortgage broker who has set up an advice website for landlords, says he was unfairly asked to pay more for a buy-to-let mortgage because the West Bromwich Mortgage Company classed him as an investor, not a consumer.
He asked Court of Appeal judges in London to analyse his claim after losing a fight in the High Court.
Appeal judges are due to publish a ruling on Wednesday.
The West Bromwich - which is linked to the West Bromwich Building Society - had said customers with three or more buy-to-let properties were not ''regarded as consumers''.
Bosses have disputed Mr Alexander's claim, arguing that terms were fair.
Mr Alexander, founder of Norwich-based Property118.com, is complaining about the way an interest rate had been varied and disagrees that a mortgage company can ''call-in performing mortgages'' with 30 days' notice.
About 400 other people who had identical mortgages with the West Bromwich have backed him and he said the appeal court ruling could affect around a million buy-to-let tracker mortgage borrowers.
Mr Alexander, who is in his late 40s, asked appeal judges to scrutinise his claim after judge Mr Justice Teare ruled against him following a High Court hearing in London in May 2015.