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Banks need to clarify mortgage position - McKay

19 August, 2014 - by Daithí McKay


Sinn Féin MLA Daithí McKay has called on banks to clarify how many customers in the North have been double charged after falling behind on their mortgages. 

Speaking after a High Court huge ruled that Bank of Scotland had been unfairly billing customers who fell behind on payments, Mr McKay said; 

"The Bank of Scotland is a major mortgage lender in the North through Halifax and many customers will be understandably concerned about this. 

"The banks need to clarify just how many customers have been double charged in this way. 

"They also need to make it clear what action they are taking to address this situation. 

"If any customers are owed money as a result of unfair double charging then the banks need to get in contact with them and let them know. 

"All of this highlights the need for tighter regulation of banks and financial institutions. 

"Seven years after the global financial crisis caused by banks it is clear that some banks are still playing fast and loose with the regulations at the expense of customers."

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