UK: MORTGAGECHEK REVEALS OVERCHARGING ERRORS
Article Abstract:
UK-based auditor, MortgagecheK, has identified overcharging mistakes on 43% of mortgage cases investigated. Calculation errors were identified in 75% of mortgages in arrears, falling to 25% in up-to-date mortgages. Some 30% of redemption penalties are wrongly calculated. Cheltenham & Gloucester, Bradford & Bingley, and Nationwide are among the companies which have admitted calculation errors in mortgages in arrears.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: LENDERS COLLAPSE UNDER WEIGHT OF APPLICATIONS
Article Abstract:
The 30-year-low interest rate is causing mortgage lenders to collapse under the weight of mortgage applications. Woolwich and Britannic Money have been singled out by independent financial advisers for providing 'diabolical' services, with lenders failing to take on new staff to cope with demand. Spokespersons for both Woolwich and Britannia Money have admitted that the unprecedented demand is causing problems.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: IGROUP SHUNS NON-MORTGAGE CODE LENDERS
Article Abstract:
Igroup has announced that it will not trade with brokers not registered with the Mortgage Code as part of a move which will see the sub-prime lender itself apply for registration with the Mortgage Code Compliance Board. The MCCB has not confirmed that it will accept Igroup's application.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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