MSE News: Northern Rock pays £270m to 150,000 after gaffe

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  • lennonc1
    lennonc1 Posts: 276 Forumite
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    Well we all have to write and complain or do it via telephone, then they have 8 weeks to respond their final answer and if not satisfactory then pass to the fos so we find out in 12 weeks how much redress we get and all our statements but you never know by the 12 weeks might have a change of heart and offer cheques! We shall just have to sit tight I suppose but don't pay your affected loan until they have complied with the cca as it is unendurable until then 12 wks! So I might just not pay until then and I know.
  • lennonc1
    lennonc1 Posts: 276 Forumite
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    To the above- yes I thought that too and would have a little cash from the payment to pay off other things and to go back towards the mortgage as now been made redundant so heres hoping something can be figured out x
  • lennonc1
    lennonc1 Posts: 276 Forumite
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    Unendurable was meant to be unenforceable blooming auto correct!
  • slkevans
    slkevans Posts: 2 Newbie
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    I received a letter before Christmas about this matter and got the second letter earlier this week. The letter said I was affected by their mess up and that they will be adjusting my balance in the next 12 weeks. Is there any way I can get them to give me a cheque instead of them taking it off the balance of my loan?
  • skilling
    skilling Posts: 3 Newbie
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    i dont mind either way, as it will take of a nice chunk of my mortgage. but i agree tho, should be our choice what we want, cheque or money off, afterall it was our money in the first place.

    they have no right to tell us how we should recieve it.
  • shaney1981
    shaney1981 Posts: 25 Forumite
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    Is there anyone with the knowledge to let us know what is the accepted procedure with this... I am happy for them to rebalance my account as long as my arrears are cleared first....
  • lennonc1
    lennonc1 Posts: 276 Forumite
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    I hope that within these 12 weeks they make the decision to offer both but I believe they will only offer redress to affected loan, I think this is because it has to go towards taking you out of negative equity with them, but my 3-4k due back will not go far to helping me out of negative equity! Mortgage is 78k and recently estate agent said rough value to put on market was offers over 65k cant entertain that at all. So well and truly stuck here with them!
  • picardygirl
    picardygirl Posts: 558 Forumite
    First Anniversary Combo Breaker First Post
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    Quite gutted that we havent received a letter as thought we could be in for a repayment from NRAM ..... we are ex NRAM customers but did have a mortage and a secured mortgage that we redeemed in October 2010 .....

    So my question is: are they are ex NRAM customers that thought they may qualify and havent heard anything yet?
  • lennonc1
    lennonc1 Posts: 276 Forumite
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    I think it is all current customers first then the second batch are ex customers so hang tight and hopefully you will get some info soon! X
  • mollysue23
    mollysue23 Posts: 21 Forumite
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    I have also had a letter stating I am entitled to redress.

    I would like the credit to be made to the mortgage part of my loan to try and bring down the amount of negative equity I have. My unsecured loan was only for £4K.

    Does anyone know if this would be possible?

    Thanks
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