Banks were proved wrong - your Mortgage interest also needs checking!

Co-founders of N.A.B.M. Ltd (acronym deliberately intended to suggest nabbem or nab’them) were Ron Brind and Andy Belton during 1990. We were the very first to go public and charge the banks with dishonesty on one out of every four bank accounts, both business and private. I accused the banks via a local newspaper of ripping off the public and soon the television companies were jostling to hear what we had to say.

Andy in the meantime had completed some very clever software called ‘Intcheck’ which as it happens went on to be used by some of the banks auditors, as well as many interest checking services that popped up, where they would do the number crunching on your bank account in return for a 25% to 40% fee, to be paid out of the money recovered from the banks. It was very successful with tens of thousands of pounds being recovered! This piece of software called Intcheck proved that the banks were fiddling us, in one out of every four of our bank accounts!!

The banks used an unbelievable series of calculations to deprive us of our hard earned cash from delaying Bank Rate interest cuts to the account holder, to using a 268 day year in one case! How disgraceful, how obscene is that? And when we pay (and it’s still happening) a cheque into our own bank account for example, the banks use our money on the three day money market to earn money for their own business, before it’s finally made available in our own accounts. Even in this day of electronic instant transfer they still use our money for their own ends. There can be no excuse and it has got to stop!

And what about your credit cards? - The banks are now being fined for over-charging by devious means again; but in any case the cards are about ten times more expensive than a personal loan! On the subject of loans, a friend of mine has received letters from a commercial outlet offering a quick and easy loan at a rate of something like 'only 130% apr'. He said “I receive these letters from time to time but only since I went on to council housing”. The Company Directors offering this obscene rate should be horse whipped, it should also be outlawed by this rotten Government, where for once they could actually do some good!

Now we face a credit squeeze because the banks have ‘spent their own money’ despite making billions of pounds profit by ripping us off, but guess who is going to suffer again? Yes, we will bear the brunt of their mistakes ‘again’ and this time it could get even worse, which is why I have started this new thread. We need our mortgage repayments checked in the same way that bank accounts were checked.

One vociferous campaigner who might be interested in taking this further is Martin Lewis, who will probably already be known to you, he is finishing what Andy and I started back in 1990! Why don’t you carry on with it, I hear you say. The fact is that Andy is unwell and I just don’t have the time, so the next best thing is to shout about it, and shout loud, so what better website than Pictures Of England.com with their millions of visitors. I suspect that what I am suggesting will soon get around the globe because the likelihood is that your mortgage company is ripping you off too, the same as the banks, and this is where the interest checking software can come into play again.