Administration error - advice please!!!

vickyjinx

I have a Chelsea mortgage that ended in March 2010. From that date, they undercharged us by nearly £200 a month for the next 4 months. This ate into the overpayments we had been making up to that point in the year, until they spotted their error in August. We were then charged the extra monies that had not been covered in July and in addition now have no overpayments left. As they have totally admitted their error (I have it in writing), is there any way we can get recompense?

TrickyDicky101

Recompense for what? The fact you have more cash sat in your bank account than you otherwise would (and admittedly offset by a higher mortgage balance outstanding due to no overpayments having been made)? I would ask if you can now transfer this extra cash from your bank account into your mortgage account and have it backdated to when, originally, you would have made your overpayments (ie so you don't suffer any additional interest). Anything else I don't think stands much chance of success.

opinions4u

This is an interesting one.

The FOS has ruled in favour of the customer in multiple Yorkshire Bank / Clydesdale Bank cases where the bank miscalculated the payment and undercharged the borrow. In some cases this has totalled many thousands of pounds.

I would bring this situation to their attention, ask for reimbursement of the underpayments in full and request that they put your mortgage back in to the position that it would have been in had you been asked to make the correct payments.

There is always the psosibility that there are differences between your case and Yorkshire Bank / Clydesdale. But what have you got to lose?

If they decline, take it to the FOS. Worst case scenario, you lose. Likely scenario, £800 for you.

http://www.moneysavingexpert.com/news/mortgages/2010/08/hope-for-yorkshire-and-clydesdale-bank-mortgage-reprieve?utm_source=forum&utm_medium=sidebar&utm_campaign=box