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Clydesdale And Yorkshire Mortgage Error Hits Repayments

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BBC News now!


Thousands of Clydesdale and Yorkshire Bank customers face increased mortgage payments after a miscalculation error.

About 18,000 variable and tracker rate customers are being contacted about the changes, believed to range from less than £25 to hundreds of pounds a month.

The banks, which are both owned by National Australia Bank, said the error was "exacerbated" by last year's unprecedented falls in interest rates.

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imo this isn't a bad thing. There's nothing like a quick payment shock to focus the mind. Most of these people will now start to take paying down their mortgage a little more serious.

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Interesting situation.

If the debtors go to court, blame the bank and the bank loses, all the savers could be wiped out.

Tonight on BBC1, the home-owners who beat the bank

Tonight on Channel 4, the savers who lost their money when the bank was forced into bankrupcy by debtors who sued the bank so they wouldn't have to pay.

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Whats the big deal?

They were undercharged for a while, now theyre making up the difference.

I had a savings account with ICICI for a while, me and thousands of others got underpaid on interest for a few months with an error, so the difference was made up in subsequent months. No big deal.

If these morons had a few months savings put aside they wouldnt be worrying. Skip the holidays and pets. I have. Or is it just BBC being the 'homeowners champion' as per usual and screw everyone else?

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