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

Cell

Percys32 wrote: »

Received our response from Santander today. As others have stated they cant find anything that would suggest they made an error but as a gesture of goodwill they will recalculate the loan. Loan recalculated from 1st April 2004 (they state this is the date of the first rate rise) to date of calculation which is 13 January 2012 (our complaint was sent on 6th Jan).

This clears our balance outstanding and they have also sent a chq for just over £50.

I cannot thank the op enough and also happy bunny and anybody else who has contributed to this thread.

Hang on in there anybody who is still waiting to hear...i am certain it will be positive news.

This is the last 'success' story, and it's just four days ago.

I still don't understand why Sanatander would voluntarily ring anyone to give bad news. I'm not doubting the previous report (yesterday evening), but it seems so strange, especially when that complaint was made just four weeks ago compared to mine (and others) that are weeks older.

I would love to see the 'resolution letter' that was promised in this case.

kenny_straw

Its all very strange indeed, surely for Santander to turn around and stop paying out to customers for exactly the same complaint others have been successful in would be inviting a media storm!
Cell I think from previous posts your complaint was sent around the same time as mine (12Jan)..so lets remain hopeful!

grafter7

Is there a snail mail address that can be used, and who is the CEO?

jasonsdad

happy_bunny, could you PM me a copy of your letter as well please. Many thanks

Cell

IT'S IN POST 595 (the numbers keep changing)!!!!

Sorry, but it's getting silly. I can understand people not reading stuff that's old, but when the answer is on the previous page you're responding on...

Dohhh...shouldn't get wound up, I know.:(

debtox

Cell wrote: »

Just quoting this as a recent example.

Frustrating. I can't see anything which differentiates between this case and farmer's case.

gbatey's post makes me think that they're trying to draw a line under it all...

Maybe there is a certain level of interest rate or percentage increase that is considered unfair by FOS. Farmer's went up to 16.5% and many others have been at 20%+. Maybe 16.5% falls in to the 'fair' window.

gbatey wrote: »

I too have had the knockback today as well!

What was your interest rate?

kazza76kaz

I've just read this topic on Martins newsletter and I am intrigued... Myself and my husband both had Cahoot loans at this time. Both have been paid off but we really can't remember the exact dates or how much we owed.

Can anyone advise on if we actually need this information or can we just send a standard letter to see if we qualify?

Sorry if this sounds vague but I can't remember what I did yesterday next mind 5-7 years ago!

Thanks in advance, Karen

lunch12345

I agree the recent posts are worrying.
I wonder how I will get on as I went to the FOS early January as I wasn't happy with the rebate (£480) and they refused to give me calculations as to how they arrived at this figure.
They also referred to initial rate of 14 % where my initial rate was 6.90 %
It will be very interesting how Santander deal with this one!

Cell

farmer1971 wrote: »

Update for you Cell! I received this email just after the 'knockback' call from Santander. I will post the transcript from the letter when I receive it.

Mr & Mrs xxxxxxx

In reference to my conversation with Mr xxxxxxx today, having carried out a full investigation into the issues you have raised, I cannot find any evidence to suggest Santander have made an error in relation to your loan and am therefore declining your complaint.



As agreed, I will be sending my formal response in writing and will include details of how you can refer your complaint to the Financial Ombudsman Service (FOS) should you wish.



Please let me know if you do decide to refer your complaint to FOS and I will happily assist them in their investigations.



In the meantime, if you have any questions following receipt of my letter, please do not hesitate to contact me.



Kind regards



xxxxxxx

xxxxxxx
Media & Executive Complaints Manager
Complaints
Santander UK plc, AHM 245, 201 Grafton Gate East, Milton Keynes, MK9 1AN

Thank you.

If it didn't involve my money (and yours!) this would be intriguing. As it is it's just worrying.

Cell

farmer1971 wrote: »

I think an interest hike of nearly 11% is unfair! The interest hikes increased depending on your credit score. I don't have the original paper work but I am sure the interest rate started at 5.7% and increased to 18% just before Santander took over (very convenient) before dropping to 16.5% in 2008!

Mine started at 6.9% I think, and was 20.0% at the end.