Santander tells homebuyers they may be in line for payout
Friday 19 April 2013
Santander UK is writing to more than a quarter of a million of its mortgage borrowers, saying they could be due compensation because it failed to make it clear the terms on which it changed the cap on its standard variable rate in December 2008.
This meant some Abbey customers who could have closed or changed their mortgages without triggering an early redemption charge missed their chance.
Santander is writing to 270,000 customer but reckons only 30,000 will be due compensation, which could range from £20 to more than £1000. It said that it had already taken a charge against last year’s profits for the likely cost of contacting borrowers and paying compensation. It could take up to six months for all customers to be contacted.
Santander last year made provisions of £232 million for compensation for retail customers and the mis-selling of interest rate swaps to companies. It previously put aside £751 million for mis-selling payment protection insurance.
Hundreds arrested as Canadian police smash worldwide paedophile ring
Ja Rule forced to deny leaving wife for prison cell mate
Nelson Mandela: 11 inspirational quotes to live your life by
More than 200 flights delayed and cancelled at Heathrow as air traffic control problem affects airports across Britain
Crash pilot who threatened Ukip leader Nigel Farage found dead
- 1 Hundreds arrested as Canadian police smash worldwide paedophile ring
- 2 Is this the scariest advert ever? Japanese tyre commercial comes with its own disclaimer and health warning
- 3 Sherlock series 3: Benedict Cumberbatch and Martin Freeman provide teasers for the biggest comeback in British television
- 4 A forgotten episode in Russian history leaves links with the Philippines
- 5 People will try to reduce Mandela to a lilting reggae tune about ‘love’. They will fail
- < Previous
- Next >
iJobs Money & Business
£80000 - £100000 per annum + benefits + bonus: Harrington Starr: Project Manag...
£50000 - £60000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£30000 - £40000 per annum + Bonus and Benefits: Harrington Starr: A global Con...
£150 - £250 per day: Cornwallis Elt : iPhone Rollout- Blackberry Enginee...