Clydesdale Bank Face Fine!
For most people mortgage payments are their biggest monthly outgoing and we all budget on the assumption that the information our mortgage lender gives us about what we need to pay is correct.
In April 2009, the Clydesdale bank, which is owned by National Australia Bank, realised that it had been miscalculating the repayments for 44,500 variable rate mortgage borrowers, due to a computer error. As a result, 22,000 borrowers were left with a shortfall. In some instances the undercharging dated back to 2005. Read more
A Return of the Interest Only Mortgage!
The mortgage price war has intensified and if borrowers are fortunate enough to have a sizeable amount of equity in their property they may be able to cut their initial monthly payments in half.
Banks and building societies have been slashing their new mortgage rates to record lows. Read more
Following a mortgage error caused by Australian owned Clydesdale and Yorkshire bank, the company has been trying to rectify shortfalls with customers and in some cases has demanded the customer repay the underpayment. Following a large number of customer complaints, a consumer group has spoken out against the handling of the issue. Read more