Let's get off lenders' case - we need them to stay in business
Share
With regard to the error made at Yorkshire and Clydesdale banks, the fact is that mistakes happen.
If the lenders had overcharged there would have been an outcry and they would be immediately expected to reimburse borrowers.
So if they have innocently undercharged, why should they not expect their borrowers to repay what they owe?
Most borrowers will have known that they were being undercharged but if there are any cases of genuine hardship I’m sure the lenders will work with their customers to mitigate this.
Yes, I agree that brokers are getting the rough end of the stick at the moment but that’s no reason to go on at lenders for every mistake they make. At the end of the day, no lenders equals no brokers.
Peter Gladdy
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
