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

finley909

Received my statement yesterday and no sign of the £3k credit. Called today to ask what the current balance is and it still hasn't appeared - a full month after the confirmation letter. The person I spoke to today told me they wouldn't have any details with regard to complaints so couldn't advise re the credit!

Second letter on it's way now...

lilly2011

It's been a few weeks since I sent in my complaint and when I called today, I was told it was sent on the 14th December to another department for the calculation to be done.

No update available

Fortuna1

Fortuna1 wrote: »

This is especially addressed to Harry6845 and Happy_Bunny but also to everybody else that has added info to this thread.

I sent my complaint into Santander on the 24th November regarding a £5k flex loan taken out in 2001. I'd heard nothing so I emailed the CEO's office on 6th Decmebr.

Today I received a letter saying they'd paid off the balance of my loan (£3,300) and enclosed a cheque for £530.

My husband also complained to the CEO's office on the 6th December about his £3k flex loan taken out in 2002.

He called them yesterday and they told him to expect a cheque in the post for £2240 as his loan was settled 6 months ago.

I hope this gives hope to all!

Happy Christmas and thanks again - without this thread I would never have thought of complaining.

:j:j:j:j:j

Just an update - Hubby's cheque arrived in the post today as promised. Off to the bank now! :T

PLBrael

Cheque for £382 arrived in the post this morning! Would have known nothing about it if it hadn't been for this thread. Thanks to Happy Bunny for the letter!

:beer:

powellypowelly

Cheque received and banked!!!

I know some people were interested in how the refunds were being calculated, this was laid out quite clearly in my letter, they'd applied the initial interest rate to the entire period of the loan and refunded the difference. I haven't got the paperwork, time and possibly not even the maths ability to see if they got the calcultion right...

paul2funky

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

Just want to thank the original OP - I had £650 interest refunded which was coincidently the remaining balance of the loan which I was slowly paying off. Would have run up at least £100 more interest before paid off if not for the OP. Has now been marked as settled on my credit report too. Thanks mate! :T:beer::T

Stu-E

I'd also like to thank the OP. I have just signed the form to accept a settlement which will pay off my loan and leave me a little left over.

Was a great Christmas present.

Nicky321

Day 18 and postie came, delivered 2 letters from santander, 1 was statement for current account, other was statement for Loan (nothing about complaint) just usual statement dated 23rd Dec stating outstanding balance, date and amount of next payment etc. Do you think they have pushed my complaint aside?

debts_reducing

Thanks to all who have posted on here - I came across this by chance.

I am in process of trying to obtain refund from Santander for Cahoot flexi loan. Does anyone know when the changes to interest rates were made? I know rate was 6% in 2002 and changed to 20% in 2008 but not sure what happened in between.

Nicky321

debts_reducing wrote: »

Thanks to all who have posted on here - I came across this by chance.

I am in process of trying to obtain refund from Santander for Cahoot flexi loan. Does anyone know when the changes to interest rates were made? I know rate was 6% in 2002 and changed to 20% in 2008 but not sure what happened in between.

Wayback Machine may be of help