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Miscalculated Mortgages With Northern Rock

Miscalculated Mortgages With Northern Rock

When people take out a mortgage, it almost always represents the costliest purchase they’ve ever made up to that point in their lives, and they naturally assume the loan provider will calculate their repayments correctly and with open honesty along the way. Mortgages are by their very nature a complicated product, so there’s little or no chance of the average person on the street knowing exactly what should be charged every month.

As the lending boom continued throughout the 1990s and into the 2000s, banks, building societies and other lenders introduced new, innovative mortgages that were by their very nature yet more complex. The likes of Northern Rock and others were at the forefront of this strategy, and for a long period they made substantial profits as the market continued to grow.

As we know now, it wasn’t to last. Some Northern Rock mortgage products allowed customers to borrow up to 95% of their property’s value PLUS a further 30% as an unsecured loan. When the market collapsed, many mortgage holders found they simply couldn’t keep up with repayments. It was a boom period that, looking back, would surely always have had the inevitable consequences.

Over the years when the market was buoyant, a significant number of Northern Rock customers were paying repayments and charges based on miscalculations. Needless to say, they were completely unaware of such developments. As each year passed, the discrepancies inevitably increased, compounding what was already an unfair situation.

If you think you might have been one of those who were paying too much, we at Beat the Banks may be able to help. We’ve handled many such cases in the past, and we continue to battle on behalf of those who suffered such a serious and costly injustice. Our team consists of many specialists who have a great deal of experience in banking, and we bring that experience and knowledge into every case we take on.

It’s only one phone call – what have you got to lose?

One call to 0800 193 1234 is all you need to find out more. We offer fair, constructive advice on what can or can’t be done, bringing you no nonsense guidance in a process that may seem to be extremely complicated. By making a quick phone call or completing our fast online form, you’ll be setting in motion a journey that could bring you the compensation that you deserve.

Northern Rock became one of the leading lights in the mortgage boom of the 1990s and early 2000s, garnering huge profits for themselves before falling victim to the economic downturn. By the time it fell into public ownership in 2008, the market was far more reticent when it came to lending. For those who were paying miscalculated mortgage payments, however, the misery continued.

If you still have a Northern Rock mortgage that you took out before 2009, you may well have paid too much over the years. Even if your mortgage has now been moved on to Virgin, UK Asset Resolution, Northern Rock Asset Management, Landmark or Whistletree, the same principle applies. An injustice may well have occurred, and we can help you to find out if it has.

We work on a no win, no fee basis, and we offer a free mortgage audit to those who have borrowed from Northern Rock during the qualifying period. It may be that you are owed a significant sum of money, and if that’s the case Beat the Banks can help. One call to 0800 193 1234 could be enough to bring you the peace of mind that you deserve.

If you’re wondering whether it’s the right thing to do to question how much you have paid, just imagine what you would have said to your mortgage provider at the time if you’d known you were being overcharged on a monthly basis. You wouldn’t have any hesitation in saying something if you were overcharged for a tank of petrol, a daily newspaper or a restaurant meal, so why should you accept it from one of the UK’s largest mortgage provider?

Instead of suffering in silence, have a chat with our friendly team today to see if something can be done. We’re looking forward to hearing from you.

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  • Mrs C, Glasgow

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    “Huge thank you to the team. After attempting to claim PPI myself and getting absolutely nowhere, I got Beat the Banks involved and ended up getting  £12,000. What a result. Beat the Banks made it so easy and were committed right to the end.”

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  • Mrs S, Falkirk

    “I was apprehensive about using a company to claim my PPI as I had previously responded to a “cold call” and was pestered with calls. I heard about Beat The Banks on a local radio station and because they were based in Scotland I felt comfortable approaching them. I have had a very positive experience with Beat The Banks. They are not pushy and answer any queries timeously. All the Agents I have spoken to were knowledgeable, polite and friendly. After the initial information gathering conversation, they understood my needs and just got on with my claim. No hassle. Even when it was clear that my claim was of a relatively low value they processed without delay. I would definitely recommend using Beat The Banks …. they put all the other companies out there to shame.”

  • T & A, Dundee

    “Down entirely to Mike’s hard work, we previously had a successful claim with Clydesdale Bank. Mike was convinced we had more loans with PPI and he was relentless in efforts to recover our paperwork from the bank. Finally, after many attempts, enough records were recovered to submit several claims. We have now received much more compensation, covering loans going back many, many years. If it had not been for Mike and the team at Beat the Banks this would never, ever have happened. Literally, all we did was sign our name and bank the cheque.”

  • Mrs S, Falkirk

    “I was apprehensive about using a company to claim my PPI as I had previously responded to a “cold call” and was pestered with calls. I heard about Beat The Banks on a local radio station and because they were based in Scotland I felt comfortable approaching them. I have had a very positive experience with Beat The Banks. They are not pushy and answer any queries timeously. All the Agents I have spoken to were knowledgeable, polite and friendly. After the initial information gathering conversation, they understood my needs and just got on with my claim. No hassle. Even when it was clear that my claim was of a relatively low value they processed without delay. I would definitely recommend using Beat The Banks …. they put all the other companies out there to shame.”

  • Mr & Mrs M, Shetland

    “We really appreciate the doggedness and professionalism of Jenna and the team at Beat the Banks. This is something we’d never have gotten round to doing and we’re so glad we went through the process with professionals as we’ve now had great results. Only positives have come from the experience.”

  • Mrs S, Falkirk

    “Excellent service so helpful, I received a substantial sum back that I had no idea I was due, thank you again to Beat The Banks especially to Gary who was so helpful and efficient in every way.”

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  • Mr S, Dingwall

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