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Error raises mortgage payments for Clydesdale and Yorkshire customers

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by Gill Montia
”Error

Some Clydesdale and Yorkshire Bank customers are facing increased mortgage costs because of a systems error.

According to reports, around 18,000 variable rate borrowers can expect their repayments to rise by between just few pounds and hundreds of pounds a month.

However, for half of those affected the monthly penalty should be below £25.

Clydesdale’s retail director, Steve Reid, has apologised for the mistake and reassured mortgage customers that they need take no action unless they have already heard from their bank.

The lenders are both owned by National Australia Bank.

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News posted: July 21, 2010

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