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

Kira000

oscar52 wrote: »

Saw that, but thought I had seen people refer to another email address.

Must need sleep :rotfl: either that or its me age :eek:

Just rechecked the first post, the email ceo email address is the one i used- they forward it straight to the exec complaints team. Def try a follow up to them, saying you had written and no response. Should get them going as they seem to be quite on the ball.

Kira000

InsertWittyName wrote: »

It was probably more complicated than most, yes

I did the same as you and emailed the CEO, had the confirmation receipt etc.

Decided to give them a call anyway (wanted to ensure the contact details they held were correct etc.) and the operator informed me there was a large deposit to the account today, but it hadn't cleared yet - the amount?

£2,756.44!

I can only assume this is a payout for the complaint :rotfl:

It means the outstanding amount on my loan is now less than £1k!

Will wait on any paperwork etc. as I'm keen to also know if they've lowered the APR on loan - I would assume so otherwise I'd just be able to complain again in the future, right?

Really happy :T

Reeeesult! Well done you! If my loan hadnt been closed, then they would have refunded me there directly. They should send you a letter detailing everything shortly. They said it would be sent early next week. They also said it was a good will payment, not accepting any wrong doing, but that my rights to ctc the FSA were not affected.

oscar52

Thanks Kira.

Cant remember how much mine went up to 20.9 rings a bell (from 9%), but could have been more. I know they transferred in early(ish) 2010 - so was at that rate for nearly two years.

Hopefully, like a few here, it will clear most (hopefully) all my balance currently at 3.5K.

markstevo

My OH e mailed the [EMAIL="ceo@santander"]ceo@santander[/EMAIL] on the 11th November, had an automated response saying complaint was being looked into, she has had the loan since 2001!! she queried the rate rise saying it was excessive etc etc......and last night she recieved a pone call from executive complaints telling her that they had looked into the account and were refunding 6k plus and that it would be applied to the account within 10 days ( they are sending letter confirming all in writing) RESULT :j.....this nearly clears the debt in its entirety just 1 payment left after 10 years of paying!!!
Many thanks to Happy Bunny for template letter..

hopefully everyone who has one of these loans gets the same response

emmie42

Please could someone PM me the letter?

cheredenine

Giving this a go myself, too! I took a loan out in 2003 and finally paid it off in 2010, with the interest rate shooting up from 7% at the outset to over 17% at one point. I emailed the ceo at santander address and got an acknowledgement within 24 hours. Just had another email asking for my address history since the loan was taken out..

Fingers crossed!

Kira000

emmie42 wrote: »

Please could someone PM me the letter?

Have PM'd you what i sent..

hth.

teddyclown

Brilliant! just had a letter from Executive Complaints Team, they have decided to recalculate the interest on my loan, resulting in a rebate of £4224.07!
Interesting they say 'We are unable to find anything that would suggest Santander has made an error, as a gesture of goodwill we are prepared to re-calculate the loan'. Why would a bank give me £4224.07 if they hadn't made a mistake?
Has anybody rejected the first offer from them, as I don't think I have the bottle to!

finley909

Teddy Clown, just out of interest what was your original interest rate and when did you take the loan out?

teddyclown

The loan was 8% initially, but now standing at a massive 20%.