Santander are now refunding interest payments on Cahoot flexible loan's

happy_bunny_2

XXSCOTSLASSXX wrote: »

Guess ill just have to see what she sends me could be interesting lol... mine was 2002 was applied for, signed and accepted all online and I printed the agreement out at that time, dont remember anything postal and have no copy of anything postal so will just have to wait and see ty xx

Mine stated mid 2002. I got a copy of my CCA and it was signed by me.

Don't think many companies did everything online back then.

happy_bunny_2

mustremembermylogin wrote: »

Can anyone help?!

I took out a Cahoot 'flexible' loan in 2003 and have a current balance of approx. £3.4k. My current interest rate is 16.1%. I have no record of the original terms of the loan.

Would I be able to make a claim and if I can, then what would be the first thing to do?

Many thanks!

Hi,

You can either complain anyway, or do a bit of work first to get the original rate.

Most rates were around 7-9% when taken out 2001-2003 from what i remember from seeing on here. Mine and OH were less than 8%.

If you send them a CCA request with a cheque or Postal Order for £1, they will send you a copy. They had mine from 2002.

PM me if you want a copy of the letter I sent.

HB

happy_bunny_2

theshow wrote: »

I received a latter via the FSO regarding this cahoot flexible loan. Santander have agreed to 're-work' the entire loan dating back to 2001 when I first took the loan out, and as a gesture of goodwill they have deposited 150 quid in my current account, while I wait for the outcome. Just need to wait and se what the 're-work' produces, hopefuly some good news, as in my eyes, this was a complete rip-off from start to finish!

Took about a week from the £150 appearing to getting the letter with the refund details.

Whats the balance of the loan? Interested to see if the calculations match, although they do not provide them.

happy_bunny_2

My OH got a refund of interest after going to the FOS, just shy of £3k.

anyone have details of how they calculate this? Neither me or OH got any details, just a refund figure.

Thanks

saverang

Please could someone send me the template letter?
We have already complained to santander about this this year which was declined so we went to the FOS which also ruled against us so Im not holding out too much hope this will work for us. Will give it a go anyway

happy_bunny_2

Hi,

If you give us a bit more info, we may be able to help.

What was the nature of your complaint they rejected?

Why did they reject it?

Not sure you can complain about the same thing twice, so best to come at it from another angle.

How much was the loan for?

When was it taken out?

Interest rate when taken out and now?

HB

saverang wrote: »

Please could someone send me the template letter?
We have already complained to santander about this this year which was declined so we went to the FOS which also ruled against us so Im not holding out too much hope this will work for us. Will give it a go anyway

saverang

happy_bunny wrote: »

Hi,

If you give us a bit more info, we may be able to help.

What was the nature of your complaint they rejected?

Why did they reject it?

Not sure you can complain about the same thing twice, so best to come at it from another angle.

How much was the loan for?

When was it taken out?

Interest rate when taken out and now?

HB

HI
thanks for replying
It was basically a complaint about the high interest rate rise and how it was unfair that due to the credit crunch we were unable to transfer it elswhere etc
They basically sent us a copy of the T&Cs we signed withe part highlited 'we reserve the right to change the interest rate at any time' and said we could have closed the account if we werent happy with it.
The details of the loan are basically the same as everyone else, taken out circa 04 I think at about 6% balance still remaining at 20%
The account is in joint names and my hubby dealt with all the correspondence so I was going to do it this time.
It seems very unfair that they are refunding people in exactly the same circumstances.

stressedindebt

I had one of these too and I remember the same thing happening! (I'll have to dig out the paperwork!) would someone be kind enough to PM me the template letter? Thank you

younglinda1

would like to do this but have no idea how, have tried to send you a private message but I don't think I did, can you help me

harry6854 wrote: »

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
([EMAIL="ceo@santander.co.uk"]ceo@santander.co.uk[/EMAIL])


Spread the word!!! Any issues private message me

Kira000

Stressed & YoungLinda, have PM'd you both in case no else has done yet.