Yorkshire bank and Clydesdale bank hit by a flood of complaints

Since our article yesterday regarding a problem with mortgage payments at Yorkshire bank and Clydesdale bank, affecting 18,000 customers, it has been revealed that some customers have been offered compensation due to the fact they have been paying extra interest on higher than expected mortgage balances, due to the fact that recent payments have been less than they should have been. So where do customers stand with regards to compensation for this issue?

While there is no doubt that are Yorkshire bank and Clydesdale bank, part of the same group, will be chasing customers for an average £800 shortfall due to miscalculations on their behalf the issue of additional interest is something which should be pursued. Those who feel that they have been affected by the issue need to contact their mortgage provider directly and make their feelings known, requesting a written response from the group.

If you are not happy with the response from Yorkshire bank or Clydesdale bank then an official complaint can be made to the Financial Ombudsman Service which will pursue the matter further. Despite the fact that additional payments will be required to rectify the situation in the short to medium term the subject of compensation is one which has been mentioned in the financial press today.