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

craaaigo

As for what else you could do - you'd need to refer to Financial Ombudsman Service if they've rejected your formal complaint (it does need to be a formal complaint too, rather than just a query youve made).FOS is an independent arbitrator so it would be very very interesting to see what they thought of this.

123chase

craaaigo wrote: »

What did they say? I'm 6 years in so have only become aware of this nasty little trick recently and thus haven't spoken to them about it.Its obvious that the 0.01% discount is purely designed to allow them to renege on the 7 year discount. Im interested in how they justify not putting you onto the SVR for the years immediately preceding year 7 when everyones terms and conditions state that this is what will happen when their fixed rate runs out.

Basically said, that the first 3 years didn't count, so when my fixed 5 year term run out they said I would go on a Special rate of 4.78%, as I had only had 5 years, wasn't entitled to loyalty discount. 2 years later, said I can't have loyalty discount now, as I wasn't on SVR, was on their special rate.

lennonc1

craaaigo wrote: »

As for what else you could do - you'd need to refer to Financial Ombudsman Service if they've rejected your formal complaint (it does need to be a formal complaint too, rather than just a query youve made).FOS is an independent arbitrator so it would be very very interesting to see what they thought of this.

Our complaints are with the Fos, they have been handed to a specialist team apparently so seems positive, I would urge to complain formally then take to fos, and in the meantime can get as much info together for a group complaint. They will have to listen to us.

123chase

I complained 27th February, so they got 8 weeks to respond, but I know it will be useless. Maybe FOS is the only way!

blackandwhitebunny

We found out about the loyalty rate recently from the website and phoned up about it, to be told that if you have a together loan and mortgage you don't get it

lennonc1

Yes it will be useless, call fos and get your details logged and explain the situation they will send paperwork for you to sign, while you wait on final response from nram, they prob will be quicker than the 8 weeks, mine took less than 2 weeks to get to me!! Showing they have already got responses ready to send out, not making it personal to your complaint.

craaaigo

blackandwhitebunny wrote: »

We found out about the loyalty rate recently from the website and phoned up about it, to be told that if you have a together loan and mortgage you don't get it

The point however is that that is NOT what the terms of conditions of the mortgage say. So you shouldn't let it lie.

craaaigo

lennonc1 wrote: »

Yes it will be useless, call fos and get your details logged and explain the situation they will send paperwork for you to sign, while you wait on final response from nram, they prob will be quicker than the 8 weeks, mine took less than 2 weeks to get to me!! Showing they have already got responses ready to send out, not making it personal to your complaint.

You can't log a complaint with FOS until you have either received a formal response or waited at least 8 weeks without a final response.

lennonc1

That is misrepresentation of your agreement, yes don't let this lie!!!

123chase

Ha, just phoned N'Ram, they didnt proccess my complaint. I actually complained 5th/6th March (not 27th February, dont know where I got this date from), they didn't even allocate a reference number to it. They going to go through the phone calls now, to locate the complaint. They will be in touch by phone tomorrow.