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

gsaver

Looks like Santander will carry on doing this as long as they can get away with it..

My case is currently with the FOS Adjudicator awaiting a decision.. If that doesn't provide a satisfactory result I guess I will have to then claim through the courts. I will be persistent in resolving this to the end.

Anyone else also have a case against Santander on the issue at the moment?

darrens_here

HI All,


Just browsing the forum.... (bored day at work).

Ive recently cleared my Santandar flexi loan. I took an original Cahoot loan out back in the day, and have been paying off little by little, not much per month, and Ive not really worried about it, but wanted it cleared. Anyhow, just looked at the interest rate and saw it was huge, and doubt I would have agreed to that back in the day...... so dis some googling and found this thread.

Does anyone know if they are still paying out, is there any template emails etc ??

steven5andhu

I took out a cahoot flexi loan in 2003

Paid it off 2010

Got my statements sent to me and saw the interest i was paying around 2005 / 2006

Proper hiked

Dont think there is much you can do now after looking around the forums and google

Unless anyone knows different

gsaver

My case is currently going through the FOS and I believe there is something we can do about it. I intend to take Santander to the Small Claims Court regarding this. I would say give it a try and make a complaint to Santander, the FOS and then bring it to the courts.

steven5andhu

Is there a email template and address to send to santander you can recommend ?

gsaver

The Email address I sent to was Complaints.ChairmanCB@santander.co.uk

I didn't use a template, more of just pointing out exactly what I felt about the interest rate hikes. You will find in Santanders responses that they are familiar with the problem, probably a standard template response they made over the years. They even mention that the FOS has already decided in the favour in the past.

Don't let that get you down however, persistence will pay off!

jdmave

Hi All

Tried all the following and fobbed off on every account with the FOS acyually being the worst to deal.

In respect of no statements / no visability (even after proving that i had consistently tried contacting even whilst living in France for 2 years)

And rate hike from 5.9% to 20%


Summary of actions
Santander - Letter and correspondance
Santander - Escualted and correspondance.
Santander - Outcome - Declined.

FOS - Letter of complaint
FOS - Adujdicator contact (Wendy Ines - Told me on there an then that on grounds of interest rate hike she wasnt interested and it would upheld in Santanders Favour (i pointed out that my first point of issue was lack of visability / information / statements)
FOS - Letter back saying withheld in Santanders favour in respect of Interest Hike and rambling on about Santander tried to contact me (When................?).
FOS - I appealled against decision and next level replied with exactly the same mumbo jumbo.
FOS - I esculated to next level in respect that the outcome letters make no sense,and ramble on about anything and everything but the issues i'd raised.
FOS - Letter stating they didnt have any obligation to do anymore and had made there decision.

My personal Summary

The FOS is paid for by the banks, acts for the banks, pointless


Jdmave


N.b still welcome any views or peoples experiences on taking them on via the courts as still have a couple of years installments to make and not missed a penny or been late by a day....

gsaver

I will also be interested in any one who has court experience in this matter or thinking of taking them to court as it looks like that I will be certainly going down that route.

tricky_plus

Anyone had any luck with this recently? I just tried after interest rates jumped from 8% to almost 20% in two years!

I received a response from Santander saying they would t uphold my complaint. Anyone had a different experience recently?

Thanks!

dom100

Just got a letter back from the Executive team at Santander saying that they were within their rights to hike the rate from under 10% to way over 20% ... together with a bundle of documentation to support this.

Does anyone know of something that can be done or is this the end of the line? What was different about the complaints that were made in 2010 as opposed to those that are made now, and what type of complaint was upheld?

Thanks for any help!