In another
case recently — a distressing
case of a widow in her nineties, whose husband borrowed a
modest amount on the security of their home on terms that interest would roll up, being told she now has to repay the loan which has grown to be more than the
value of the house; but the solicitor had built his
case on the interest rate being higher than the Bank of England base rate and I had to tell him that this was permissible (and any lender would need to charge a margin).