NRAM problem

oreo7504

I have my mortgage with NRAM (used to be northern rock), I have a mortgage & an unsecured loan to make it 100%. About 4 years me & my partner had some money problems & ended missing payments, then in October 2008 ended up with a CCJ because of it. From what I remember being explained at the time (I am unable to find the paperwork, but I'm a bit of a hoarder & I know it's about), the unsecured part of the loan would now be secured on the house & wouldn't notice any other changes to our payments, & payments were the same until we left the fix rate & went on to the variable rate.

Fast forward today, I contacted NRAM about a payment holiday, I haven't missed a payment since the CCJ, to be told I couldn't have one due to the interest being frozen on the unsecured loan last month. 3 phone call later kept being cut off, I was told it was due to the outcome of the CCJ. me & my partner have not received any letter to say they were freezing interest, I said this to nram they said they did write back in october 2008!!!


I am planning on writing to nram about this as I want something in writing about why it's taken so long to do.

I am wondering now if they have broken any rules as it's taken so long for them to do this (also need to check the paperwork to see if they should of done this) & if is this should of been in place earlier, interest has been paid for 3 1/2 years am I entitled to this back?

Dave_Ham

I would imagine (and this is not my area of excellence) that they rolled up the interest that would have been due and then put this total amount as a charge on the property. Forget the numbers, but say a £10k loan would have cost you £15k over the term of the repayment, the CCJ would have been for £15k and then this placed as a charge on the property.

I would think when you look at your mortgage statment, they should make this clear.

I would word them a letter and ask for confirmation of mortgage payments and what account they have been applied to, specifically by what value (amount) each month/year.

NRAM are not really up for payment holidays as not geared up this way at inception/formation.

Sorry, just my opinion but obviously the more information you can get the more we may be able to help.

I suggest the post was initially given a miss is because none of us will definitively know without more information, similar to yourself...

opinions4u

A payment holiday is no more than a long term loan.

You have a damaged credit history and they declined you.

Not much more to it than that.