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

grafter7

I may be being naive her but surely if a number of complaints have been upheld and payments made, there is sufficient case law to query any declined applications?

Letter sent today

babydoll_1981

Hi all,

I have just stumbled accross this thread and having had a cahoot flexible loan between approx 2002-2009 with constantly changing rates I feel I could be in with a chance of reclaiming something. The only problem is that I don't have any of my old paperwork with account number etc or can I remember how much I had borrowed altogther (I would regularly pay off and borrow from it)
Does anyone have any advice on where I should start? Where I'll find my account number or if I can claim without it and is there any pro-forma for doing this?

Thank you all for your help in advance. :j

linda._2

Thank you for the template. I did not know about this until I read todays email. By reading the old posts I found your template, which I do appreciate. I have lost all my paperwork because my account is closed. Can anyone advise how to get information on the account please.
I do recall the rate increase after Santander took over was very steep and caused me a lot of grief until I managed to borrow enough to pay off my Santander/cahoot fl loan.
Hoping someone can help and advise where to find the info I need.

Thanks
Linda

grafter7

I just called santander, asked to speak to someone to discuss my old cahoot loan, gave them the obvious details (address, dob, names etc) and they found details..

Leighmo

Thanks all for the updates within this thread. I also had a Cahoot flexi loan (including some very lovely interest rate hikes) and have submitted a complaint through Santander's online form this morning.

Like the above couple of posts, my loan has been settled and I no longer have the paperwork. I did manage to get the account number by telephoning my bank - they were able to look at some past transactions and found a Cahoot payment, from which they were able to obtain the reference number used for the direct debit.

I'm intrigued to see how they respond now, after reading the last couple of pages. I see a bit of a battle coming on!

Leighmo

grafter7 wrote: »

I just called santander, asked to speak to someone to discuss my old cahoot loan, gave them the obvious details (address, dob, names etc) and they found details..

Oh good, I didn't think would have been fruitful; it was tough enough getting them to find my account when my loan was open! What details were they able to give you?

babydoll_1981

After a thorough read at this forum I have managed to find the pro-forma and address to send it to and recovered the account details from old bank statements/experian.

Fingers crossed......to be updated

farahfive

Hi,

I have just stumbled across this thread. I took out a flexible loan of £10,500 in November 2005. I still have my credit agreement, the APR is stated as 6.9% variable. My January 2012 statement shows a balance of £6,605, monthly payment £162 of which £92 is interest at 16.61%. I am unsure of when this rate increased, I only seem to have statements from May 2010.

It would be amazing to reduce this balance. I would really appreciate if someone can send me a template so I can compose an accurate email.

Any help/advice is greatly welcomed. Thank you.

Cell

Please refer to the previous page for template.

debtox

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!

I think it's unfair too but my point is maybe FOS have set a criteria of what is unfair and what isn't. From a business point of view I expect they have to give Santander a lot of leeway if it was stated in their terms and conditions.