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

123chase

IainHL wrote: »

The precise terms and conditions of my Together mortgage actually state that after the fixed rate period ends I would go onto a rate that is guaranteed to be lower than their SVR. (Yes I realise that 0.01% is a nasty trick to play that actually confirms to the letter of the Ts&Cs, if not the spirit.)

Then for the loyalty rate it does specifically say that you will be excluded from it if you are getting some other special rate (which obviously the discounted Together rate is classed as).

Therefore I would check your Ts&Cs carefully to see precisely what they say.

Just got off the phone to N'ram, you are exactly right. She quoted, section 12.8, which states that on expiry of the fixed term, the rate is guaranteed to be lower than SVR, even though it is only lower by 0.01%. This is what we signed up to, and we are not entitled to loyalty rate (regardless of years), as we have been receiving the discount, (0.01%). I was told if I was not happy about this, I could happily move my mortgage. Also, had the fact that there is no early reprayment charge thrown at me. Fighting a loosing battle with this one, we signed the terms and conditions.

lennonc1

Thrifty_Pixie wrote: »

you're not 'all' doing it, and rarely is it going to be a 'positive thing'. as has been discussed here more often than not a balance redress is best financially, and you have admitted yourself that you are only doing this on principle rather than for financial reasons. your barracking of everyone in here to join your little complaints group to boost numbers when they are quite happy with their redress is getting a little tiresome if i'm honest.

(and don't say 'go away then' as i am here waiting for news on ex-NRAM customers like many others)

also...would it be best for people worried about their loyalty rates to start a new thread somewhere else? i understand you're all concerned but it's not really relevant to the main thread?

Of course you are entitled to your opinion, however this is what is happening now for many of us, we have our group almost together and hope to have backig from Which who might look at a super-complaint. This would be of benefit for all Nram customers not just me!! Yes it is the principle but also being able to sell and move on from here, I don't want to be stuck with 30 years still left on term, I'd use the money I get to sell this hellhole. Everyone has different circumstances and no one should be so self righteous enough to judge! There is a lot going on in the background with everyone who wants to take it further, they simply don't want to comment on this thread anymore as people/trolls want to have a go! I can't blame them for not doing it in public domain.

daisymay2008

Thrifty_Pixie wrote: »

you're not 'all' doing it, and rarely is it going to be a 'positive thing'. as has been discussed here more often than not a balance redress is best financially, and you have admitted yourself that you are only doing this on principle rather than for financial reasons. your barracking of everyone in here to join your little complaints group to boost numbers when they are quite happy with their redress is getting a little tiresome if i'm honest.

(and don't say 'go away then' as i am here waiting for news on ex-NRAM customers like many others)

also...would it be best for people worried about their loyalty rates to start a new thread somewhere else? i understand you're all concerned but it's not really relevant to the main thread?

well said.....I like many other ex nram customers are also waiting at the bottom of the queue, while I commend her tenacity it is becoming a little tiresome, especially when there is now another thread, at least the redress has been sorted in the most part for all existing customers even if some arn't happy with the outcome, that said i wish them luck but feel it all may be fruitless

geeka

Do I just tell them what has happened, what details will they need?

lennonc1 wrote: »

I had received statement too, but no redress and on part for unsecured loan account said 'following paragraph related to your consumer credit act fix sum agreement, this statement does not contain all the information which you are entitled to receive from us. If you would to receive this extra information please get in touch with us to obtain it, we are required to give you this info within 15 working days. Information not included in this statement is the amount of credit and duration of fixed sum credit agreement' Eh??? Anyway it will all be passed to fos

Call them on 0300 123 9123 and get it logged and they will send you documents to sign hopefully by then you get a final response from them.

Gavman99 that's great news for you! Glad it has turned out well for you.
I still have 29 years to go on mine!! Gulp!! They told me to take 35 years and I was non the wiser, I know now tho!! I've grown up lol

jonomassey

I spoke with NRAM on Monday to give them my new address details and they told me that as I'm an ex nram customer they haven't started to look into what redress we would be entitled to. I asked them how long it would be before we would know something and he said that they haven't been given any timings for ex customers. So I guess we just have to wait, I only found out about this at the weekend so my wait has only just started but I'm guessing the ex nram people who know about this months ago will be a starting to be a little peived on not hearing anything as yet.

gavman99

Would be interesting to know if ex-nram customers end up with interest being added to their refunds. I can just imagine the outcry from existing customers who (as far as I'm aware) have had no interest applied to the interest charges that were refunded.

gavman99

lennonc1 wrote: »

I had received statement too, but no redress and on part for unsecured loan account said 'following paragraph related to your consumer credit act fix sum agreement, this statement does not contain all the information which you are entitled to receive from us. If you would to receive this extra information please get in touch with us to obtain it, we are required to give you this info within 15 working days. Information not included in this statement is the amount of credit and duration of fixed sum credit agreement' Eh???

So in order to "fix" this and make their statements CCA compliant, they just add a paragraph saying "our statements still aren't CCA compliant, but contact us if you want the info that makes them compliant"

Surely the onus is on NRAM to send statements that are compliant as opposed to NRAM putting the onus on customers to ask for the info ??? Where do the legal obligations lie ? Can't believe for a second its with the customer. And if thats true, and customers don't ask for their extra missing info, surely NRAM are still in breach so can't charge interest ????

lennonc1 wrote: »

Gavman99 that's great news for you! Glad it has turned out well for you.
I still have 29 years to go on mine!! Gulp!! They told me to take 35 years and I was non the wiser, I know now tho!! I've grown up lol

Cheers.

Thrifty_Pixie

jonomassey wrote: »

I spoke with NRAM on Monday to give them my new address details and they told me that as I'm an ex nram customer they haven't started to look into what redress we would be entitled to. I asked them how long it would be before we would know something and he said that they haven't been given any timings for ex customers. So I guess we just have to wait, I only found out about this at the weekend so my wait has only just started but I'm guessing the ex nram people who know about this months ago will be a starting to be a little peived on not hearing anything as yet.

thanks for that. as an ex-NRAM customer the 8 weeks from my letter is up next week when i will be calling them again to ask for an update. i don't see why those of us who have paid debts off with them should have to wait months after those who haven't. they should be doing it NOW if they're done with the current customers.

Thrifty_Pixie

lennonc1 wrote: »

Of course you are entitled to your opinion, however this is what is happening now for many of us, we have our group almost together and hope to have backig from Which who might look at a super-complaint. This would be of benefit for all Nram customers not just me!! Yes it is the principle but also being able to sell and move on from here, I don't want to be stuck with 30 years still left on term, I'd use the money I get to sell this hellhole. Everyone has different circumstances and no one should be so self righteous enough to judge! There is a lot going on in the background with everyone who wants to take it further, they simply don't want to comment on this thread anymore as people/trolls want to have a go! I can't blame them for not doing it in public domain.

with respect, i am not judging, and you are the only one coming across as self-righteous here. i am just commenting that, along with others, i feel that your badgering of people in this thread is becoming tiresome. if you have your little group together, then i wish you luck, but not everyone wants to keep reading your canvassing for new recruits over and over again if you have a thread specifically for that elsewhere.

lennonc1

I wasn't saying you were self righteous, I will simply stating that no one should be self righteous enough to judge on anyone's situation. I don't feel like I am badgering anyone, no one has complained! I am only letting the new posters know what they can do, because in all honestly they won't read the thread from the start. I came here looking for help and like minded people, I didn't know what to do or what my rights were, I was clueless, people here have helped, some others not so much, but I stand by what I am doing here and hope I am helping others by doing this.
I really don't want this thread to be bickering between people as that doesn't help the cause. Sorry if you feel I am badgering folk.!