@contradevian Posted July 21, 2010 Share Posted July 21, 2010 BBC News now! http://www.bbc.co.uk/news/uk-scotland-10710167 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. Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted July 21, 2010 Share Posted July 21, 2010 BBC News now! http://www.bbc.co.uk/news/uk-scotland-10710167 Crumbs I knew I should have used 3 decimal places. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted July 21, 2010 Share Posted July 21, 2010 Couldn't those banks just reduce the interest rates for their savers to make up the shortfall for those hardworking mortgaged families? Quote Link to comment Share on other sites More sharing options...
Fishman Posted July 21, 2010 Share Posted July 21, 2010 (edited) BBC News now! http://www.bbc.co.uk/news/uk-scotland-10710167 Intriguing, as the article refers to a minimum payment. Must be one of those tracker rate mortgages that have a floor. Which is quite ironic, because the the borrowers may not have a roof (over their heads) if they default. Edited July 21, 2010 by Fishman Quote Link to comment Share on other sites More sharing options...
1888 Posted July 21, 2010 Share Posted July 21, 2010 Couldn't those banks just reduce the interest rates for their savers to make up the shortfall for those hardworking mortgaged families? http://www.cbonline.co.uk/personal/savings/interest-rates-and-charges/ quite simply the WORST rates available:angry: Quote Link to comment Share on other sites More sharing options...
singlemalt Posted July 21, 2010 Share Posted July 21, 2010 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. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted July 21, 2010 Share Posted July 21, 2010 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. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted July 21, 2010 Share Posted July 21, 2010 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? Quote Link to comment Share on other sites More sharing options...
sleepwello'nights Posted July 21, 2010 Share Posted July 21, 2010 I expect it was a computer programmer, sorry software engineer who f***ked up. Bloody techies! Quote Link to comment Share on other sites More sharing options...
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