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MSE News: Mortgages hikes after Yorkshire/Clydesdale Bank glitch

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  • Wulfrune
    Wulfrune Posts: 86 Forumite
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    Scotland on Sunday last week page 2 says "Clydesdale borrowers will be advised to read the Ombudsman's technical mortgage note, in which it states: "In cases where the monthly repayment was too low, because the lender made an error ..., we will generally decide that the lender is entirely to blame.

    scotlandonsunday.scotsman.com/clydesdalebank/Who-pays-when-the-bank.6438425.jp?articlepage=1

    WOOOOOOOOT :j
  • Wulfrune
    Wulfrune Posts: 86 Forumite
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    Well, I got my letter back from the FOS yesterday and it says that CB has failed to respond in the 8 week period and that they've (the FOS) have given them a final 2 weeks to come up with their final solution, or they'll make a ruling one way or the other.

    Personally, the pressure that I've exerted on them has been quite heavy and whislt I'm not counting my eggs before they hatch, it's looking more promising as time goes by.

    Best case senario is CB don't reply and the FOS makes a judgement in their absence.

    Only time will tell, I will keep you posted.
  • I am in the same boat as you all with the letter arriving back in June and same story regards phoning them and offering the same 3 solutions and a mere £300 compensation. The shortfall on mine is just shy of £3k and the rise in mortgage would be nearly £170 to bring it to where it should be and cover repaying the shortfall. I have spoken to CAB and they recommend making an official complaint which the letter I have now written and about to post today R.D. Apparently I have to complain to them first then I can write to the FOB after 8 weeks. Bit tight now as payments due to increase next month. Good to see on here some cases are being resolved correctly as it is the banks fault regards the shortfall as they tell us what to pay and with my tracker the first 2 years I could only pay what they tell me to pay as you couldn't make over payments.
  • macca
    macca Posts: 163 Forumite
    finally received 2 letters from clydesdale 1st one had pages and pages of spreadsheets which finally seemed to show that we owed them £7K!!!!!! Second letter - standard stuff we're so sorry you have complained your letter has been passed onto our complaints team yaw yawn. So when can I complain to the FOS? Thx
  • Wulfrune
    Wulfrune Posts: 86 Forumite
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    macca wrote: »
    finally received 2 letters from clydesdale 1st one had pages and pages of spreadsheets which finally seemed to show that we owed them £7K!!!!!! Second letter - standard stuff we're so sorry you have complained your letter has been passed onto our complaints team yaw yawn. So when can I complain to the FOS? Thx

    It's in the small print I think. They have had to have given you their final word on the subject. So, if they say to you "that's it, that's as far as we're prepared to go" I think you should green light your complaint to the FOS. Also, write to your local MP, and if you'r lucky, he maybe one of them that actually get off their collective a***es and may actually be of some help to you... what you got to lose? a stamp, an envelope and some of your time.

    Go for it, the more that people get their politicians involved, the more pressure that comes to bear on CB.

    Good Luck.
  • Like most of the letters I have read on this page, I find myself in a similar situation, although the arrears being quoted are £1700'ish, my bank (Clydesdale) want an extra £199 per month from September which makes me approximately £2500 underpaid. I read about the man who apparently had this sum wiped off after he complained, and my question is What's good for one customer then surely it should apply to us all. The bank surely now have created a precedence in this situation.
    I cannot afford for the extra cash although if the rate went back up gradually then it would be affordable as we would adjust to possible small percentage rises, but a huge hike such as this is surely total negligence. Also as I have about 7 years left on my payments how does that equate then with the increase an extra £2500 x 7 = £17500 So their mistake could potentially cost me about £20,000 Can anyone enlighten me or am I being confused with this problem.
  • I've 2 mortgages with the CB, and my experience is that the people working for them are great and try their best. BUT, the bank is absolutely hopeless with it's systems and shouldn't be allowed to lend money until it get's it's act together. It took 18 months to negotiate from one fixed rate to another - and even now they haven't run it correctly! They are a total shambles!
    My advice is stick to your guns and don't give up and they will try to correct their mistakes, make sure you have your facts right, don't lose your temper and keep plugging away! Good Luck:)
  • Wulfrune
    Wulfrune Posts: 86 Forumite
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    I got a letter from CB telling me that they're offering me £500 compensation, which would still leave me £1200 out of pocket

    I told them to shove it where the Sun doesn't shine.

    I want them to pay ALL of their c*ck up.... not just a portion.

    They also had the cheek to say that they thought their offer was "a fair one" seeing as I had such a good deal with them.

    Tough
  • We have just opened a letter which had been misfiled, to find it's from the Clydesdale regarding the miscalculated mortgage repayments.

    We are in shock, given the hike of over £500 a month starts on the 25th of this month.

    This will tip us over the edge. We are already in an agreement with CCCS, and so this will completely stuff things up.

    Any advice before we start phoning and writing letters on Mopnday?!
  • socrates
    socrates Posts: 2,889 Forumite
    My shortfall is £71 per month I complained and was offered £75 compensation yesterday - £150 today - both offers refused.

    Apparently the clock is already ticking and as I complained on July 20th they have another four weeks - (I think) to resolve matters.

    Its a case of dig my heels in and make myself a nuisance!
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