MSE News: Northern Rock pays £270m to 150,000 after gaffe

craaaigo

IainHL wrote: »

Where have NRAM told you this Jimmy? Who in NRAM told you? By what method?

If my memory is correct and my mortgage rate is 4.78% then this will repesent an increase of 7.3% in my monthly payments. Not good, but not devastating.

At best this is a wind up at worst its an outright spiteful lie that will upset people and cause worry. There is no chance that some flunkey answering the calls at NRAM would tell customers that a rate rise is imminent. Absolutely no chance. Ignore such claims.

lennonc1

craaaigo wrote: »

At best this is a wind up at worst its an outright spiteful lie that will upset people and cause worry. There is no chance that some flunkey answering the calls at NRAM would tell customers that a rate rise is imminent. Absolutely no chance. Ignore such claims.

Yes agreed, a pathetic attempt to wind people up. Hoping to put people off the subject, that is what the trolls do!!

goaten2000

lennonc1 wrote: »

Yes agreed, a pathetic attempt to wind people up. Hoping to put people off the subject, that is what the trolls do!!

Maybe so but you're stooping to his level and feeding him. I thought I'd left such antics in the playground when I left school. "you work for NRAM" - "no, you do". Seriously....!!!!

Lennon, what you're doing is commendable but your approach by goes completely against Martin's (and this boards) ethics. The whold point of this forum is that useful information is shared for others to potentially use.

I imagine whilst you may have "thousands" of people who you have in your private group, there are probably a few more who lurk and use the information without sharing. I fall into this camp (unfortunately!) but in this particular case have a loan over £25k therefore am not even getting any redress.

Lennon, I do sincerely hope you will reconsider your position on keeping such information private and share on here.

Now, can we TRY and keep this on topic :beer:

lennonc1

goaten2000 wrote: »

Maybe so but you're stooping to his level and feeding him. I thought I'd left such antics in the playground when I left school. "you work for NRAM" - "no, you do". Seriously....!!!!

Lennon, what you're doing is commendable but your approach by goes completely against Martin's (and this boards) ethics. The whold point of this forum is that useful information is shared for others to potentially use.

I imagine whilst you may have "thousands" of people who you have in your private group, there are probably a few more who lurk and use the information without sharing. I fall into this camp (unfortunately!) but in this particular case have a loan over £25k therefore am not even getting any redress.

Lennon, I do sincerely hope you will reconsider your position on keeping such information private and share on here.

Now, can we TRY and keep this on topic :beer:

Yes sorry, Ive been trying so hard not to stoop to his level but has annoyed me.

I will make sure all information I find out I will post for everyone as I understand we are here to help each other, not goad each other!

There is some information I will keep private just now, I will post everything once I have my facts right. I have an appointment with my MP on the 15th and will certainly be raising the point of loans over 25k and I will let you know what he says. I am not in this just for me, please know that, the principle is much greater!

tracy7

If the little annoyance was a fly you'd swot it to put it out of its misery!

tracy7

I was asking about the claim that this mistake was known about for years prior to its discovery in February last year by lennonc1. Had this been known about then I am fairly sure that those astute enough would have publicised this information probably by a forum such as this to allow the matter to be addressed at that point in time.

lennonc1

This was on consumer action group website, you can search for cca loans etc, it had been highlighted in a few posts going back to 2006, they had noticed missing information on their statements and initial agreements. I'm not sure if this was complained about or not as it is a very large thread, about 1600 pages long so only has the chance to look over some of it.
I suppose these facts don't matter, and I highly doubt we will get any answers soon, but I still know that we have rights and I want to know what they are, if that means a judge has to decide on what's fair or not then so be it.

Sillysausageuk

Well, I'm sitting here wondering who the hell lemoncakes is?

Any chance I can join the private messages?

geeka

just dug out my statement and it says i have a secured loan and against each line ebtry on the statement it says "FSA regulated" all 3 say yes. I would assume that means its game over for me?

im just confused you would have thought the statement would say "further advance"?

Evenfields

geeka wrote: »

just dug out my statement and it says i have a secured loan and against each line ebtry on the statement it says "FSA regulated" all 3 say yes. I would assume that means its game over for me?

im just confused you would have thought the statement would say "further advance"?

Firstly, how much did you borrow? Was it under or over 25k?

Secondly, when did you take out the loan and what does your original agreement say? Does the agreement or any old statements pre 2012 say regulated by the Consumer Credit Act?

The rules changed for secured loans in 2012 and the FSA now regulate all secured loans old and new. It is very confusing I know.

However, if your agreement says its regulated by the CCA, then you would still be covered by it, if your loan is 25k or less and the FSA from 2012.

If it's over 25k and taken out before 6th April 2008, and your agreement states its regulated by the CCA, then take a look at the other thread for Northern Rock loan over £25,000 as that's a different ball game e.g. Missold, potentially unenforceable, argument to claim CCA rights etc

Also the mistakes NRAM announced in the statements were several. Do you have amount borrowed for eg on them? Are these recent or old statements pre disclosure of their mistake?

If you haven't heard from Nram yet, call them and ask them if they have earmarked it for redress or not.

1) If they answer YES, then great! Then if you don't want the redress taken off the balance but paid back to you, then file a complaint that you won't agree to change the terms i.e. length of the loan.

2) If they say NO, then ask reason why. If they say it's because the loan is over the 25k limit (and your agreement says it is CCA regulated), then file a complaint.

I very much doubt you are the only one to have correct statements and if you had a loan over 25k that it was actually written as a non-regulated agreement. I think imho you would be in a minority of one.

Let us all know how you get on. Good luck!