Clydesdale to pay out after mortgage error

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Clydesdale Bank has been ordered to compensate a proportion of its mortgage
customers whose repayments were increased after a computer error.
Those due to receive a settlement are among the 18,000 Clydesdale customers
on variable rate mortgages - including 10,000 in Scotland - who faced
increases in their monthly repayments after the lender and its sister firm,
Yorkshire Bank, miscalculated their payments.
Some borrowers are understood to have won a £9,000 payout after the
Financial Ombudsman Service (FOS) ruled in their favour.
However, it is believed that just 100 cases are still under investigation by
the FOS, while the remaining customers have come to an agreement with the
banks.

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Robin T Cox

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