Can the terms of a repayment mortgage contract that was a fixed rate for 5 yrs be altered during the 5 yr fixed term to a SVR?
Does a fixed rate mean the amount to pay each month would remain the same for the 5 year term and not go up or down?
Would that be a breach of contract if it's altered?
Is it lawful?
When mortgage interest is charged daily, how would that appear on a mortgage statement, each month or once a year?
Thanks