Letter sent over Yorkshire and Clydesdale Bank mortgages error

Date:Thursday 22nd July 2010
Author: Susanna Kavka

Many Yorkshire and Clydesdale Bank mortgages customers can expect to receive a letter soon from their provider with an apology, although a representative from the firms has claimed that the issue only concerns a small minority of people.

Steve Reid, retail director for Clydesdale Bank, stated that the vast majority of individuals do not need to do anything as they are unaffected.

However, for around one per cent of the firm's customers - about 18,000 people - there has been an error in the calculation of their monthly repayments.

This means that these Yorkshire and Clydesdale Bank mortgages customers have been underpaying and the accounts need to be corrected to make up for this shortfall.

Mr Reid remarked: "First and foremost we are very sorry that this error has happened and for any inconvenience it may have caused those customers affected."

Last week, the firm urged people to protect the security of their accounts by not handing over details in unsolicited emails or phone calls.