Watchdog raps Nationwide on mortgage rate

An independent financial watchdog has strongly criticised Irish Nationwide's interest charges on commercial mortgages.

11th June, 2005

An independent financial watchdog has strongly criticised Irish Nationwide's interest charges on commercial mortgages.

Denis Minchin, a director of the Co Clare firm DLM Financial Services, made his allegations after investigating the mortgage accounts of two clients of Irish Nationwide.

According to Minchin, who worked with Ulster Bank for 30 years, the interest charges and fines on the commercial mortgages held by both clients were overstated and incorrectly calculated.

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