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  • FIRST POST
    harry6854
    Santander are now refunding interest payments on Cahoot flexible loan's
    • #1
    • 29th Oct 11, 9:14 AM
    Santander are now refunding interest payments on Cahoot flexible loan's 29th Oct 11 at 9:14 AM
    This is the discussion thread for the following MSE News Story:


    Back to original post, and a big thank you to Harry for this (as we've said in the story above).

    Santander are now refuding past interest paid on Cahoot flexible loans!!


    Myself and a number of others have secured thousands of pounds in refunds - I had my interest recalculated from 2006 to present day at 6% and was given a £8000 refund!! This is not a joke - it would appear someone has had success with a Financial Ombudsman claim and now there are paying out.

    I have been contacted by other's who state that this also works for closed account's.

    The best way to complain is by contacting the CEO office at the email the ceo's office
    (ceo@santander.co.uk)


    Spread the word!!! Any issues private message me
    Last edited by MSE Guy; 21-02-2012 at 4:18 PM.
Page 2
    • arbroath lass
    • By arbroath lass 11th Nov 11, 10:22 PM
    • 1,566 Posts
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    arbroath lass
    I've just checked my current account and £3k has been deposited today as an "account adjustment"! My current account is with Santander. I haven't been sent any details or signed anything. Is this not a bit weird?
    • XXSCOTSLASSXX
    • By XXSCOTSLASSXX 11th Nov 11, 11:11 PM
    • 407 Posts
    • 575 Thanks
    XXSCOTSLASSXX
    wow wtggggggg Do u still have active loan with them? Is a bit odd to be honest i had to sign an acceptance form thing maybe thats just if you have active loan account not sure x
    • arbroath lass
    • By arbroath lass 11th Nov 11, 11:38 PM
    • 1,566 Posts
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    arbroath lass
    wow wtggggggg Do u still have active loan with them? Is a bit odd to be honest i had to sign an acceptance form thing maybe thats just if you have active loan account not sure x
    Originally posted by XXSCOTSLASSXX
    My loan was paid off earlier this year. I'm having a bit of trouble believing this, lol. I didn't even give them the account details. Although I did tell them I HAD a current account with them.
    Last edited by arbroath lass; 11-11-2011 at 11:48 PM.
    • XXSCOTSLASSXX
    • By XXSCOTSLASSXX 12th Nov 11, 12:58 AM
    • 407 Posts
    • 575 Thanks
    XXSCOTSLASSXX
    It must be because the loan was paid off enjoyyyyy ...... Iv just fired an email off to the ceo asking where my refund is!! lol have fished out their letter and it states I will be refunded up to the 15th September the date they received my initial complaint, so 2 months have passed not good... I have to continue making payments.... wonder how forgiving theyd be if Id withheld payment for the last 2 months.
    • arbroath lass
    • By arbroath lass 12th Nov 11, 10:18 AM
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    arbroath lass
    Thank you and thanks again OP.
    • InsertWittyName
    • By InsertWittyName 12th Nov 11, 10:14 PM
    • 1,057 Posts
    • 4,898 Thanks
    InsertWittyName
    Thank you and thanks again OP.
    Originally posted by arbroath lass
    When did you initially email them?

    Thanks
    I was a DFW, now I'm a MFW
    • arbroath lass
    • By arbroath lass 12th Nov 11, 10:56 PM
    • 1,566 Posts
    • 3,829 Thanks
    arbroath lass
    When did you initially email them?

    Thanks
    Originally posted by InsertWittyName
    It would've been 29th October after the op started this thread.
    • InsertWittyName
    • By InsertWittyName 12th Nov 11, 11:48 PM
    • 1,057 Posts
    • 4,898 Thanks
    InsertWittyName
    It would've been 29th October after the op started this thread.
    Originally posted by arbroath lass
    Pretty good turnaround then

    Thanks for the quick reply!
    I was a DFW, now I'm a MFW
  • wanchai
    I had a cahoot flexible loan from 2003-2006, the rate did keep going up, I got fed up and paid it off early. Could I claim? Is there a template for complaining? Sorry to ask such silly questions and thanks in advance for any help
    • happy_bunny
    • By happy_bunny 13th Nov 11, 9:12 AM
    • 4,480 Posts
    • 1,759 Thanks
    happy_bunny
    I think you can complain about anything in the last 6 years.

    I would send a complaint to Santander. If you PM me, I'll send you the letter I used, but it will need tweaking for the fact your loan is now paid off.

    Worth it, as it doesn't take long to write the odd letter.

    If they reject it, you can refer to the FOS.

    I had a cahoot flexible loan from 2003-2006, the rate did keep going up, I got fed up and paid it off early. Could I claim? Is there a template for complaining? Sorry to ask such silly questions and thanks in advance for any help
    Originally posted by wanchai
  • wanchai
    Hi happy_bunny
    I tried to pm you but got an error message - could you send me the template you used in a pm and I'll try to open it? Thanks xx
  • clsmed
    Too late to claim?
    My loan was paid off earlier this year. I'm having a bit of trouble believing this, lol. I didn't even give them the account details. Although I did tell them I HAD a current account with them.
    Originally posted by arbroath lass
    My loan was paid off and my flexi account closed by Cahoot well over a year ago as the product was being withdrawn. Like you I still have a Cahoot current account & also a Cahoot credit card.
    Can you tell me what you put in your complaint e-mail, was it specific with dates and interest rates or just general? The reason being is I no longer have any paperwork relating to the flexi loan as it was closed so got rid of it when I moved house earlier this year. I can probably find the loan account number though.

    Thanks
  • dellstone
    Hi happy bunny i have sent you a PM would be great to get a copy of your letter. I have been trying to do this since July and been passed from pillar to post !!cheers
    • arbroath lass
    • By arbroath lass 17th Nov 11, 6:17 PM
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    arbroath lass
    My loan was paid off and my flexi account closed by Cahoot well over a year ago as the product was being withdrawn. Like you I still have a Cahoot current account & also a Cahoot credit card.
    Can you tell me what you put in your complaint e-mail, was it specific with dates and interest rates or just general? The reason being is I no longer have any paperwork relating to the flexi loan as it was closed so got rid of it when I moved house earlier this year. I can probably find the loan account number though.

    Thanks
    Originally posted by clsmed
    Very general all I wrote was -

    Account : XXX

    I write to raise a formal complaint on the above account. The account was taken out on XX/XX/XXXX with the company Cahoot. I understand Cahoot was taken over in the 2009/2010 period by Santander who had bought the parent company Abbey.

    The account was excellent until October 2006 when the company imposed massive interest rate hikes. These interest rate rises continued until the account was settled in XXX XXXX.

    I wish to complain that these rate rises were unfair and the rate rises and final rate were unreasonable.

    This was based on advice from Harry6854 (the OP).
  • patfla
    flexiloan
    We tendered our complaint in 2010 and in august 2011 they decided to reduce our account to 0% interest on balance owing based on our complaint.
    Having spoke to the complaints team today it seems we are at complaint level 2 and they are addressing the interest rate from the start of the account in 2003 7% to the horendous 21.9% and have been advised that we may receive a refund of the difference between the initial interst rate and the high rate troughout the period of the account.The reason for this is an "operational procedure change".
    We are optimistic that there may be closure and will keep all informed
    • arbroath lass
    • By arbroath lass 18th Nov 11, 9:03 PM
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    arbroath lass
    I've just checked my current account and £3k has been deposited today as an "account adjustment"! My current account is with Santander. I haven't been sent any details or signed anything. Is this not a bit weird?
    Originally posted by arbroath lass
    Rather relieved to receive a letter from Santander detailing the payment. Nothing to sign, though
    • Kira000
    • By Kira000 18th Nov 11, 10:04 PM
    • 1,979 Posts
    • 8,037 Thanks
    Kira000
    Being just about off on mat leave, I'm sooooo hoping that my complaint letter has a similar outcome! My account is closed though and i dont have any other borrowings with Santander (despite their weekly letters urging me to take out a "special rate" loan with them. So not sure how they would refund me if they decide to do so?
    Married 13/03/10 #1 DD born 13/01/12!!

    Newborn Thread Founder
    • arbroath lass
    • By arbroath lass 18th Nov 11, 10:29 PM
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    arbroath lass
    So not sure how they would refund me if they decide to do so?
    Originally posted by Kira000
    I was offered a cheque.
    • Kira000
    • By Kira000 19th Nov 11, 11:22 AM
    • 1,979 Posts
    • 8,037 Thanks
    Kira000
    I was offered a cheque.
    Originally posted by arbroath lass
    Cheque sounds good.... now have to hope they offer me something!
    Married 13/03/10 #1 DD born 13/01/12!!

    Newborn Thread Founder
  • Im78
    I got a letter today confirming they will credit my loan with a high amount taking into account the changes in interest rates in the next 14 days. This is in addition to the ppi refund they have given me. Means loan will be settled in the new few months. Happy days.

    Only took two weeks from sending the initial email as well can't argue with their response times
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