Northern Rock Loan customers windfall!

puregeordie

Northern Rock Asset Management Customers.

http://www.bbc.co.uk/news/business-20679511

More details, here http://www.nram.co.uk/en/customers/cca-loans.aspx

Now I wonder if that's me;)

We sit and wait for the postman I guess.

opinions4u

Ah great.

Another bill for the taxpayer to pick up.

tonyh66

It could be you..............
hpoefully its me, I tick all the boxes:j

miduck

opinions4u wrote: »

Ah great.

Another bill for the taxpayer to pick up.

It's a joke isn't it, I have no idea why they are paying out - an administrative error should not be sufficient to cancel the interest (in the same way it is not where a lender cannot produce the original loan agreement).

BEAKER654

Yes you are correct, another bill for the tax payer..however due to an error made by the banking sector.

A banking sector which is supported by the government, who were voted for by the.....taxpayer....swings and roundabouts! no point in complaining its just gonna keep happening!

Lets hope it brings some relief to thise stuck with NRAM for no other reason than some banker decided the loan was toxic!

miduck

BEAKER654 wrote: »

Yes you are correct, another bill for the tax payer..however due to an error made by the banking sector.

A banking sector which is supported by the government, who were voted for by the.....taxpayer....swings and roundabouts! no point in complaining its just gonna keep happening!

Lets hope it brings some relief to thise stuck with NRAM for no other reason than some banker decided the loan was toxic!

Not all of us voted for this government!

zacattack_2

I wonder how they will find those who have moved since repaying their loan? The website is quite vague so there is no way of knowing if it does or doesn't apply and the promised letter to tell me whether it applies or not will struggle to arrive if they don't know where I live!

puregeordie

zacattack wrote: »

I wonder how they will find those who have moved since repaying their loan? The website is quite vague so there is no way of knowing if it does or doesn't apply and the promised letter to tell me whether it applies or not will struggle to arrive if they don't know where I live!

My thoughts as well as this is me just thinking about it, also I can't find any details of it. Oh bugga!!

lizards

We had a loan taken out in 2007 for over £25K (28K), and according to the site linked above, it's not covered by the CCA 1974 so we wouldn't qualify. BUT - at the top of the loan it says it is. Any thoughts?

GeorgeMc_2

This might affect me, and like others I've moved home twice since 2008! Also does this affect secured loans? I've still got a statement with account numbers on etc which is a good thing as I could just call up and check but which number would I call??

Thanks

lizards

GeorgeMc wrote: »

This might affect me, and like others I've moved home twice since 2008! Also does this affect secured loans? I've still got a statement with account numbers on etc which is a good thing as I could just call up and check but which number would I call??

Thanks

According to the link above:

"Can I speak to someone for more information about this issue?If you have any general queries regarding your loan, call us on 0845 609 9626*. We are available Monday to Friday from 8:30am to 6pm.
However, please be aware that our agents will be unable to give you further details at this stage about whether or how this issue specifically affects your loan."