Ms Francesca McDonagh:

We considered whether the terminology in the documentation created cause for confusion, and we felt in instances that it did. Just to be clear about how documentation occurs with a mortgage, when one gets a mortgage, typically there will be two documents. One is the offer letter, which is typically the original and primary document for a mortgage and it has information on pricing and relevant terms and conditions. For a customer who changes, switches or takes on a new feature in their mortgage, they would then get a second document called a mortgage form of authorisation, MFA. That MFA will refer to pricing but states that save the details set out in this form, all terms and conditions applicable to the loan remain unchanged. If one is the customer who switched 17 times, one would have 17 MFAs and one offer document. That reference over a period of time, involving multiple MFA documents to the offer and even though it may be contractually accurate, from a customer-centric perspective and how a reasonable customer would understand that, we believe there was scope for confusion. That is why we included them and gave them the benefit of the doubt and we included them in the remediation.