Building society in £2 million mortgage charge refund pledge
The West Brom Building Society is paying out up to £2 million to refund nearly 8,000 mortgage customers who were accidentally overcharged.
Published
The 7,669 borrowers were mistakenly charged too much interest when redeeming their mortgages – paying them off early.
The society, which has branches in Shrewsbury's High Street, Cross Street in Oswestry and Severn Street in Welshpool, said those borrowers found to have been overcharged would be fully reimbursed with interest.
The total amount set aside for the refunds is £2 million. Although refunds will vary, it means an average payout of around £260 each.
