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

UK_AEH

newbie1001 wrote: »

I recieved a letter today Cell...it looks exactly like the response to my first email to CEO....hoping to hear something soon. First letter sent on 6th Jan with response on 9th.

Virtually the same timetable here
Mail sent 06/01
Response 09/01
Letter dated 29/01 saying they were looking into it and would write when they had finished their investigations

Expect mine to be quite complex though as i was still dipping in and out until they finally removed the option 2 years ago and turned it into an inflexible loan. Just hope they have not changed their tune and are going to start playing hardball and whilst in the beginning they were happy to give out the cash it has now snowballed to the point where it is more difficult to do so. Hopefully worrying about nothing. Will keep you all informed, still at least 4 weeks yet so not to concerned at the moment.

In pretty much the same situation too......sent email in the first week of Jan, got the email the day after, then the 'continued investigation' letter on 02 Feb
.....hopefully a nice 'resolution' letter soon (fingers crossed):beer:

jules1973

Does any know if the reference number on the top of the 'we're looking into your complaint' letter is the account number of the loan.

It is just I am doing a PPI claim on Cahoot Loan and was about to send a request for the loan agreement to find out the account number. This would save me some time and £1

Mine is a seven digit number starting with a 907****

Cell

No it's not. My complaint ref is nothing like my account number.

HTH:)

Alex444

Alex444 wrote: »

I have been dealing with Moorcroft with regards to my Flexiloan, stopped paying when interest rates started getting silly, they were the DCA chasing me. Have e-mailed Santander about the account and have acknowledgement, so I'll see what happens.

Moorcroft told me they had returned papers to Santander, letter from Santander today says that they are still investigating my complaint.

jules1973

Cell wrote: »

No it's not. My complaint ref is nothing like my account number.

HTH:)

Thanks for that. Maybe it will have the account number on the final decision letter.

Denza

Hello all.

Firstly, massive thanks to the originator(s) for providing an opportunity to claw back some much needed funds from the exploitive banking community.

I actually stumbled upon this thread while searching for something else as a result of Santander completely refusing point blank to offer me one of their new year 6.9% headline rate loans in favour of my existing Flexi Loan. In fact they refused to consider any alternate loan arrangement at any rate, it seems I am a good risk for them at 20.0% APR but not at 6.9% which makes no sense at all outside of Santander revenue considerations.

Anyway my complaint has been opened and we'll see what transpires.

Reason for post is that in the course of raising the compaint I discovered that rather than the 20.000% APR that Santander have been listing on my statements since they acquired the loan they have actually been applying a rate of 21.9%; so almost 10% more interest than stated.

I have ensured that this has now been raised as a separate individual complaint outside of the general interest rate hike one. I certainly don't anticipate that they will have the gall to fire off any 'no evidence of wrong-doing or error' rhetoric with respect to this complaint.

The question is has anyone else encountered this issue?

PS - Congratulations to all those who have successfully reclaimed.

edwards97

Hi I do not know if anyone can help me but I had a full and final settlement letter from Santander which I replied to. 3 weeks later when I asked where my cheque was they said they had got it wrong and they offered me 4 times too much. They told me the new figure and sent me a cheque for them being sorry of £55. I thought a full and final offer was just that? I have gone to the FOS on this asking for the original amount and I have not cashed the cheque for £55 they sent me. Anyone know if I have a chance of getting the higher amount?

Cell

dawnybabes wrote: »

I sent the standard letter via email, just with name address d-of-b on on the 11th Jan ( as DH was paid off a few years ago too) got a chq Friday for £1671 .......

This appears to be the last known sighting of a resolution (30-01-12). They appeared to be flying in thick and fast upto then...

<worried face>

Alex444

Alex444 wrote: »

Moorcroft told me they had returned papers to Santander, letter from Santander today says that they are still investigating my complaint.

Well surprise, had a cheque from Santander today for just over £5000., but the current balance on the account has not been mentioned.

Now since they say I am due them money surely the refund should have been used to reduce the outstanding balance.

Cell

Cheers Alex. Pleased for you.:T

Can't answer the question you've raised, but would really appreciate details of when you made your complaint, had it acknowledged, how much the debt was and over what period etc.

Thanks:)