Kensington to redress £1.1m to clients over 'unfair' arrears charging

The FSA says the firm charged "unfair and/or excessive" charges to some customers in arrears between January 2007 and October 2008. Kensington was fined for: Failing to ensure mortgage servicing staff acting on its behalf had adequate understanding of treating mortgage arrears customers fairly; Concentrating on the repayment of mortgage arrears over a short period of time rather than agreeing an arrangement to pay the arrears based on the customer's individual circumstances; Applying three charges to customers' accounts that were unfair and/or excessive. These were: 1). A f...