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

jerseygirl_3

I took my Together mortgage out in 2006 and the unsecured loan part was for £28245. If my loan isn't regulated by the CCA because it's over £25k then what law is it regulated under and what safeguards are in place to protect me against Northen Rock in the event they do something wrong? Anyone know?

carlyberyl

So its in relation to the fact that they never put an opening balance, is that right?

bigbadwolf500

carlyberyl wrote: »

So its in relation to the fact that they never put an opening balance, is that right?

Yes, I think. The NRAM statements don't show the original opening balance, only the outstanding.

carlyberyl

None of our statements right from 2005 show an opening balance, we borrowed £30k as part of the together mortgage and our paperwork states were covered by the cca...

carlyberyl

Previously, under the Consumer Credit legislation, any amount borrowed on credit above £25,000 was not regulated by the Act. From 6th April 2008, this is to be removed, thus, any amount borrowed will be subject to the provisions of the 2006 Act unless specifically exempted.

Just found this...so does this mean the contract was never even worth the paper its written on as those of us with over £25k loans were lied to!

Hevs81

Don't think it matters from 2005 think its statements from 2008 onwards ! At least that's my understanding of it.

geeka

after digging out my statement it looks like ive got 3 diff secured ones, dont have a 16 digit account number.

2004 - 9k
2005 - 16k
2006 - 13k

total about 38k

how does that affect things CCA wise? any ideas?

Thanks

Hevs81

They are all separate loans so you should have a different account number for each I believe !? Therefore potentially entitling you to the the refund. IMHO !:A

geeka

i cant find another account number on my statement only 5 digits 2 letters and 5 digits! hope they you are right..................:T

Hevs81 wrote: »

They are all separate loans so you should have a different account number for each I believe !? Therefore potentially entitling you to the the refund. IMHO !:A

alan_blue

this is gonna hurt the tax payer in the end and the goverment will find a way to get it back im sure lol. I called them today and gave new address as i had sold the house it was for. I had no account details but the kind lady uploaded all the current details and said it will link p an will hear something in jan