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Results: Have you enquired about your Northern Rock CCA loan

Yes, I have been awarded compensation

3.57% • 1 votes

Yes, I have been advised there is no valid complaint

3.57% • 1 votes

Yes, I am awaiting a response from Northern Rock/NRAM

57.14% • 16 votes

No

35.71% • 10 votes

You may not vote on this poll

28 votes in total.

Page 89
    • IainHL
    • By IainHL 22nd Sep 17, 10:42 PM
    • 186 Posts
    • 126 Thanks
    IainHL
    From this thread http://forums.moneysavingexpert.com/showthread.php?t=4339593 it would seem to be the period from October 2008 till December 2012, so a little over 4 years.
    • tillboy
    • By tillboy 23rd Sep 17, 7:27 PM
    • 248 Posts
    • 126 Thanks
    tillboy
    On a £30k loan (over approx 8 years) if interest & compound interest (8%) was to be paid back that would just about clear the entire remaining loan balance
    Originally posted by bigbadwolf500
    But...

    Loan was only active for about 2 years before insolvency and why would you want to pay off a loan thatís been written off anyway?
    • bwfc_luettge
    • By bwfc_luettge 30th Sep 17, 5:40 PM
    • 1 Posts
    • 0 Thanks
    bwfc_luettge
    Together mortgage
    Hi, i also have a together mortgage which i took out in 2007 with a loan amount of 29k. I have just looked to re mortgage today and didn't relise that the separate loan amount would go up in interest. Do i have a case? Or do i have to ring a solicitor and put forward my case. Sorry first time i have posted on the internet and don't know where to start.
    An information appreciated cheers Dan
    • bigbadwolf500
    • By bigbadwolf500 30th Sep 17, 9:18 PM
    • 46 Posts
    • 9 Thanks
    bigbadwolf500
    Hi, i also have a together mortgage which i took out in 2007 with a loan amount of 29k. I have just looked to re mortgage today and didn't relise that the separate loan amount would go up in interest. Do i have a case? Or do i have to ring a solicitor and put forward my case. Sorry first time i have posted on the internet and don't know where to start.
    An information appreciated cheers Dan
    Originally posted by bwfc_luettge
    Go back a page or 2 and look for the link to Howlett Clarke solicitors. You do have a case, so get in touch. Good luck
    • stusimpson
    • By stusimpson 3rd Oct 17, 10:30 AM
    • 12 Posts
    • 0 Thanks
    stusimpson
    Has anyone looked at the Howlett Clarke pack regarding action against NRAM? I've had a quick read and it looks like you could be seriously out of pocket for what is an unknown outcome, that is probably likely to be rejected. I cant see the point unless I'm missing something?

    Stu
    • goaten2000
    • By goaten2000 3rd Oct 17, 10:41 AM
    • 50 Posts
    • 18 Thanks
    goaten2000
    What pack are you referring to?
    • bigbadwolf500
    • By bigbadwolf500 3rd Oct 17, 12:38 PM
    • 46 Posts
    • 9 Thanks
    bigbadwolf500
    Has anyone looked at the Howlett Clarke pack regarding action against NRAM? I've had a quick read and it looks like you could be seriously out of pocket for what is an unknown outcome, that is probably likely to be rejected. I cant see the point unless I'm missing something?

    Stu
    Originally posted by stusimpson
    Isn't it done on a no win - no fee basis?
    • stusimpson
    • By stusimpson 3rd Oct 17, 1:24 PM
    • 12 Posts
    • 0 Thanks
    stusimpson
    Partly but when you read the detail, theres alot of unknown costs, have you read it?

    It actually opens you up to lots of 'other' costs, let me know if you have read it and what you think.
    • goaten2000
    • By goaten2000 3rd Oct 17, 1:26 PM
    • 50 Posts
    • 18 Thanks
    goaten2000
    Partly but when you read the detail, theres alot of unknown costs, have you read it?
    Originally posted by stusimpson
    what pack are you referring to? Something online or something you've received in the post? As
    per BBW, I was under the impression cases were being taken on on a no-win no-fee basis but I'm not sure what pack you're looking at. To date I have not had any further correspondence other than the email update sent out last month.....
    • Barny1979
    • By Barny1979 3rd Oct 17, 8:39 PM
    • 3,837 Posts
    • 43,761 Thanks
    Barny1979
    Found out yesterday that as loan was settled in summer 2011, unable to go for claim, absolutely guttted!
    • pt2537
    • By pt2537 5th Oct 17, 6:01 PM
    • 108 Posts
    • 203 Thanks
    pt2537
    Hi there

    May i suggest that you read the cover letter which asks for people to contact us so that we can advise on the documents you have received.

    We have offered no win no fee and are seeking ATE insurance to cover the costs of the cases if it becomes necessary to issue a claim, although from the responses we have had it is probably not going to be necessary.

    I think it is incorrect to say you could be out of pocket, without first speaking to us and allowing us to do our jobs and advise on the documents you have received, which are clearly Draft documents at this stage in any event.

    If you have any issues please do give me a call, im more than happy to discuss and confirm anything in writing too
    • pt2537
    • By pt2537 5th Oct 17, 6:11 PM
    • 108 Posts
    • 203 Thanks
    pt2537
    what pack are you referring to? Something online or something you've received in the post? As
    per BBW, I was under the impression cases were being taken on on a no-win no-fee basis but I'm not sure what pack you're looking at. To date I have not had any further correspondence other than the email update sent out last month.....
    Originally posted by goaten2000
    Papers went out today i believe. When you receive the documents give us a call and we can go through them.

    With regard to the comments below that this is likely to lead to an unknown outcome and likely to be rejected, i disagree, first the test cases we have run have been successful, we cannot disclose information about them obviously but we wouldnt be taking the cases forward if we didnt think we would be able to get a result, and second, if the case is unsuccessful or rejected then there is no fee as it is no win no fee. Anyway, if anyone has any questions its best that they get intouch as its really not the best to discuss these cases on here
    • pt2537
    • By pt2537 5th Oct 17, 6:13 PM
    • 108 Posts
    • 203 Thanks
    pt2537
    Isn't it done on a no win - no fee basis?
    Originally posted by bigbadwolf500
    The answer is yes, its a conditional fee agreement, which is the correct name for a No Win No fee agreement. These agreements often cause confusion hence why we ask for the clients to call us so that we can go through the documents with them and explain everything that needs to be explained before anything is signed.

    Hope that is ok
    • Together as one
    • By Together as one 5th Oct 17, 10:04 PM
    • 2 Posts
    • 1 Thanks
    Together as one
    pt2537,

    We need to be clear that the headline of 'no win, no fee' doesn't mean that there's nothing to pay regardless of the result. There's an initial disbursement fee of 5% of the value of the claim (around £255) to pay and a maximum fee of 35% of any damages awarded (charges, success fees, expenses and other disbursements incurred incl VAT) on top of any legal costs ordered against NRAM.

    'Disbursements and expenses'are payable even if claimants lose the case. Without insurance cover we could also face picking up NRAM's legal bill if we lose.

    Risk v Reward appears to be quite marginal......
    • poggs
    • By poggs 5th Oct 17, 10:24 PM
    • 113 Posts
    • 44 Thanks
    poggs
    Papers went out today i believe. When you receive the documents give us a call and we can go through them.

    With regard to the comments below that this is likely to lead to an unknown outcome and likely to be rejected, i disagree, first the test cases we have run have been successful, we cannot disclose information about them obviously but we wouldnt be taking the cases forward if we didnt think we would be able to get a result, and second, if the case is unsuccessful or rejected then there is no fee as it is no win no fee. Anyway, if anyone has any questions its best that they get intouch as its really not the best to discuss these cases on here
    Originally posted by pt2537
    Are you sending them out to all applicants? ie will I get one
    • pt2537
    • By pt2537 6th Oct 17, 6:11 AM
    • 108 Posts
    • 203 Thanks
    pt2537
    pt2537,

    We need to be clear that the headline of 'no win, no fee' doesn't mean that there's nothing to pay regardless of the result. There's an initial disbursement fee of 5% of the value of the claim (around £255) to pay and a maximum fee of 35% of any damages awarded (charges, success fees, expenses and other disbursements incurred incl VAT) on top of any legal costs ordered against NRAM.

    'Disbursements and expenses'are payable even if claimants lose the case. Without insurance cover we could also face picking up NRAM's legal bill if we lose.

    Risk v Reward appears to be quite marginal......
    Originally posted by Together as one
    I can fully understand your concerns but as I've said it is our job to go through the papers with each individual and explain the risks,rewards and the litigation process etc.

    As I've said before each NRAM case is different, I wish I could discuss the other cases so as to give a clearer explanation of the rewards but I cant.

    I am sure however that if you get in touch then we can address any concerns and if you're still not happy to go ahead then you can walk away.

    After all what do you have to lose? Nothing and everything to gain if you get a good amount of compensation
    • bigbadwolf500
    • By bigbadwolf500 9th Oct 17, 11:19 AM
    • 46 Posts
    • 9 Thanks
    bigbadwolf500
    Who did NRAM sell to? My mortgage is now managed by Whilstletree (TSB), Who are the other mortgages with?
    • Cardifflady
    • By Cardifflady 9th Oct 17, 11:23 AM
    • 5 Posts
    • 1 Thanks
    Cardifflady
    Mine went to Landmark Mortgages who are worse than Northern Rock and that is saying something!!!
    • pt2537
    • By pt2537 19th Oct 17, 2:15 PM
    • 108 Posts
    • 203 Thanks
    pt2537
    Hi

    I wanted to try and deal with some misinformation that has been bounced around concerning these cases we are dealing with.

    1) We are looking at and are hoping to secure ATE Insurance to cover the adverse costs if court proceedings become necessary, this will mean, if unsuccessful and if ATE is in place the costs will be covered by the insurance which is self underwriting so no fee to pay out if you lose.

    2) If the Claim is successful then the insurance is covered under our CFA

    3) Many people have BTE insurance on their homes and contents insurance which may itself fund the Claims. A lot havent even checked.

    4) The rewards are small!!! WRONG. The problem is, and ive explained this to everyone ive met so far, that the rewards are difficult to advise on at this stage for numerous reasons like

    A) The test cases have confidentiality clauses so i cannot give an account of what happened because to do so would breach confidentiality, lose me my job etc
    B) From dealing with the test cases one thing became clear, its NOT JUST about interest, interest is one issue, and in most cases COULD worth about £10k on its own, but its also about unfairness such as telephone harassment which could add a further £2k,£3k,£5k, £10k who knows, its also about undisclosed commissions which also took place, all of which come under the banner of unfair relationships.

    So when people start quoting sums at me telling me the reward isnt worth the risk im afraid i dont agree, it costs nothing to sit and have a chat with us and let us go through everything before making a decision

    5) Its unlikely, although not impossible, that Court proceedings would even be necessary. Experience suggests that these matters may well settle quickly, if that happens then risk is 0.01% reward is 110% which in my view is very much in the right favour

    I have seen some messages which totally misrepresent what we are doing, so id ask if anyone has questions then please contact us and we would be happy to assist.
    Last edited by pt2537; 19-10-2017 at 2:35 PM. Reason: added word could for clarity
    • pt2537
    • By pt2537 19th Oct 17, 2:36 PM
    • 108 Posts
    • 203 Thanks
    pt2537
    Mine went to Landmark Mortgages who are worse than Northern Rock and that is saying something!!!
    Originally posted by Cardifflady
    From your point of view that may be right, from mine its another story entirely
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