Miscalculated mortgage claims refer to instances where lenders have made errors in calculating the interest on mortgages, resulting in borrowers paying more than they should have. This can occur due to various reasons, such as incorrect interest rates, errors in the application of fees, or mistakes in the calculation of payments.

The issue of miscalculated mortgages gained attention in the UK in the early 2000s, when it was discovered that some lenders had been charging excessive fees and interest rates to borrowers. This led to a series of investigations and legal challenges, resulting in the identification of widespread mis-selling and misconduct in the mortgage industry.

In response, the Financial Conduct Authority (FCA) introduced a set of guidelines for lenders to follow when assessing mortgage affordability and ensuring that borrowers are not overcharged. The FCA also established a mechanism for borrowers to make complaints and seek redress if they believe they have been subject to unfair practices or miscalculated mortgage payments.

Overall, miscalculated mortgage claims are a result of the complex nature of mortgage calculations and the potential for errors or misconduct by lenders. As a result, it is important for borrowers to carefully review their mortgage agreements and seek professional advice if they suspect any irregularities in their payments.