Is There an Overcharging Problem in Irish and UK Banks?

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Is There an Overcharging Problem in Irish and UK
Banks?
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• UK and Irish Bank customers have for a long time
  complained of account discrepancies, with
  thousands of borrowers highlighting increased
  loan amounts that could not be explained. This
  has led to the obvious question is there an
  overcharging problem in the UK and Irish Banks?
• The Discovery
• Bank of Scotland (Ireland) and Ulster Bank have
  recently been found to have overcharged their
  customers on various occasions. Ulster Bank is
  being accused, with justifiable reasons that it
  had overcharged more than 23,000 customers with
  what it termed as the mistaken fees. On the
  other hand Bank of Scotland had an overcharge in
  customers accounts after wrong mortgage
  calculation (interest rates) on more than 20,000
  customers accounts.

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• Further analysis reveals that this is not the
  first time the Bank of Scotland has been involved
  in the overcharging scandal. Recently the lender
  was found to have charged customers in 2008 an
  extra days mortgage interest for the Leap Year.
  It is estimated that more than 28,000 customers
  were affected by the extra days interest
  overcharge.
• AIB is the latest entry into the overcharging
  saga after the lender was found to have
  overcharged its customers by as much as 50,000.
  The overcharge was attributed to human error
  and the application of wrong interest rates on
  the tracker mortgages. Liquidators of IBRC have
  also tabled a report to the Central Bank with
  revelations that the former Anglo Irish Bank was
  engaged in overcharging scandal for 14 years.

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• The Irish Tracker Mortgage scandal has brought
  overcharging to a whole new level with around
  40,000 bank customers receiving compensation that
  industry experts believe will cost the banks in
  excess of 1 billion Euros.
• The Irish Minister for Finance, Paschal Donohoe
  highlighted that overcharging seems to be an
  industrial problem. His sentiments were justified
  by Central Banks report, which indicated that
  more than 25 of customers had suffered from the
  same vice. Even where the overcharge might be
  small, cumulatively, the lenders are banking
  millions.

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• Mr. Donohoe continued to highlight that the
  government is supervising the refund policy where
  all the overcharged customers have to be refunded
  within the shortest time possible. Firms have
  also been required to communicate with the
  affected customers and solve the interest rates
  discrepancies with immediate effect. Moreover,
  the Ministry of Finance is deliberating on other
  legal measures that could inflict penalties and
  fines to the banks that have been involved in the
  current scandal.

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• Is there any hope?
• Yes! If you believe that there could be an issue
  with your mortgage, it would be prudent if you
  sought an independent assessment from
  Loananalysissolutions for a comprehensive report.
  Getting an independent residential mortgage
  analysis or debt restructuring analysis is an
  essential undertaking as it will not only prevent
  loss of money, but also provide you with an
  updated comprehensive financial report about your
  mortgage refinancing.

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