Listed mortgage lender HFCB Kenya (formerly HFC, Housing Finance, HF Group) has secured a partial court victory after the High Court overturned an order requiring it to refund a borrower Sh8.4 million over a disputed mortgage account.
The court ruled that the evidence used to calculate the alleged overcharge was unreliable. However, it upheld findings by the lower court that HFCB breached its loan agreement by varying interest rates without giving the contractually required notice and by imposing charges not provided for in the mortgage documents.
