Miscalculated Mortgages With Yorkshire Building Society

Yorkshire Building Society Miscalculated Mortgages

If your mortgage is with Yorkshire Building Society, there is a substantial chance that your borrowing may have been miscalculated. Research and physical auditing of Yorkshire Building Society customer mortgage accounts against loan offers has identified significant overcharging. This is amplified if the borrowing has ever featured arrears. Without a doubt, rapid growth since the turn of the century and aging legacy systems have not helped.

Beat the Banks, working in conjunction with our partners, are now offering an entirely free mortgage audit on currently held Yorkshire Building Society Mortgages, providing the initial amount borrowed was in excess of, or close to £100,000, and the mortgage was taken in 2009 or before.

We are also able to extend this offer to any mortgages taken with Yorkshire Building Society after 2000, providing they were retained for at least 7 years and again, subject to an initial borrowing amount of circa £100,000 or more.

Yorkshire Building Society can trace its roots back in time to 1864. It was famed for its tight, very basic underwriting and its often Dickensian approach. They were also one of the very last UK lenders to charge mortgage interest in advance for the whole year, meaning customers regularly overpaying or making lump sum reductions subsequently in that year, saw no reduction in interest paid on their mortgage borrowing.

Even after the millennium, Yorkshire Building Society continued to only offer mortgages direct to customers. There were little or no broker intermediary sales. Finally, in 2003 they decided to launch their own intermediary-only brand. Called Accord Mortgages, for what was known to be a very conservative lender, they shocked the market by even offering sub-prime borrowing. Unfortunately, their processing and procedures were, and still continue to be, woeful, with mortgage brokers either point blank refusing to use them at all or only as a lender of last resort.

In more recent years, the Yorkshire Building Society has grown steadily by taking over local and not so local building society rivals including, The Barnsley in 2008, followed in rapid succession by The Chelsea in 2010 and then the Norwich and Peterborough in 2011. On top of that, it also snapped up the Egg savings and mortgage business in 2011. Not surprisingly, it’s now the second biggest building society in the UK, behind the Nationwide, and boasts a network of nearly 150 branches.

If you would like to know more about our Yorkshire Building Society free miscalculated mortgage check, the Beat the Banks team are here to help on 01382 200474 or 0800 193 1234. If you live locally, we are more than happy for you to pop in with your paperwork. Either way, we only need a few minutes of your time to start the process.

Our office opening hours are 8am-8pm weekdays, except for Fridays when we close at 6pm. On Saturdays it 10am-2pm.

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