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

Willow1234

Can someone possibly help me with regards my husbands (Cahoot/ Santander) loan account??

We first took the "Flexible" loan out back in 2004/5 (can't find paperwork so not sure on date at the min), and as most people we we're using it to the max and not taking notice of the rate rise (until now that is)!!

We had a £10500 limit on the account (to which we used) and have been regretting it ever since as our monthly payments are £200 per month and £100 is interest!!!!!

Can someone please help me gain back some of the interest as this has been going on for several years and the ballance this month is still £8000! We do every few months pay less per month but the interest payments has always been at 50% of the total loan repayment? Currently the % charged is something like 16%..... any advcie would be nice.

Thanks again people

oracleman

Hello Willow1234

Very easy. If you look back through the forum one one of the previous pages you will see copies of the emails sent to Santander.

Just modify this , add you name address, (and any previous address if you have moved) account no etc and email off to complaints [EMAIL="complaints@santander.co.uk"]complaints@santander.co.uk[/EMAIL] Its that easy.

Willow1234

Thanks Oracleman, I will look!! Im glad to see that I'm not alone in my quest..... I really do think that after almost 7 yrs of this I should get the loan reduced, we have paid them £15/18000 already (based on a repayment of £250 pm?). We were so stupid and now have to suffer for it

had a similar problem with PPI on a First Direct loan, borrowed £10500 but with PPI we actually paid back £20000 (which ends next month) would'nt repay any of it and in 2009 said that I had nothing new to add 9after my previous complaints) that this was now thier final relpy.... so lost another £5000 there too

oracleman

If you are not happy and think you have a case then don't let the banks win, once you have your final letter complain to the FOS, it's free.

Also have you reclaimed your PPI insurance ? - go for this as well.

When you get a settlement figure from Santander for the over payment of interest, it you are reasonable at maths - CHECK IT - on a previous forum entry I posted a rough guide how to calculate what you should get. If they offer you £x thousands its too easy to snap their hands off and grab the cheque.

Hope this helps.

spreadtrader

Thanks to OP and HB for sending me the template.
Sent email off on 29/12/11 auto reply 30/12/11
Letter received today which says they can find no fault however as a gesture of goodwill they are crediting my account with nearly £1200.00
only owe them about £300 now :T

Nicky321

spreadtrader wrote: »

Thanks to OP and HB for sending me the template.
Sent email off on 29/12/11 auto reply 30/12/11
Letter received today which says they can find no fault however as a gesture of goodwill they are crediting my account with nearly £1200.00
only owe them about £300 now :T

:j Congrats :beer:

Cell

spreadtrader wrote: »

Thanks to OP and HB for sending me the template.
Sent email off on 29/12/11 auto reply 30/12/11
Letter received today which says they can find no fault however as a gesture of goodwill they are crediting my account with nearly £1200.00
only owe them about £300 now :T

Great news!

It would be helpful if you could indicate your approximate borrowings with them and advise how long you have had the account.

While not expecting anything (best that way!) I have no idea what sort of figure might be appropriate for me.

Cheers

mau5mat

Just found this thread while searching for details on the Flexi Loan I now have with Santander! Would someone be kind enough to PM me a template that you've been able to use successfully? Hopefully I can have some luck with this and help to reduce this seemingly everlasting loan I've had since originally taking it out with Cahoot in 2001!!!!

Nicky321

mau5mat wrote: »

Just found this thread while searching for details on the Flexi Loan I now have with Santander! Would someone be kind enough to PM me a template that you've been able to use successfully? Hopefully I can have some luck with this and help to reduce this seemingly everlasting loan I've had since originally taking it out with Cahoot in 2001!!!!

Let the fight commence, not thats theres been any fighting, they just seem to pay up as a gesture of goodwill (saying they are not a fault)

debtox

spreadtrader wrote: »

Thanks to OP and HB for sending me the template.
Sent email off on 29/12/11 auto reply 30/12/11
Letter received today which says they can find no fault however as a gesture of goodwill they are crediting my account with nearly £1200.00
only owe them about £300 now :T

Did you email the ceo address? I submitted my complaint via the complaints form on the website and got an auto response straight away.

Do you think they will contact me by email again or just send me a letter?