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

geeka

Just had a 3rd holding letter saying they are still looking into my complaint (not that it was a complaint, more asking if i was to be included). got my first letter at the end of december. anyone else in the same situation?

shaney1981

They seem determined to fob off anyone who questions what is going on or wants a different outcome to their desired one.

IainHL

dragon_train wrote: »

Whilst on the phone the advisor warned me that Nram expect interest rates to rise within the next 3 yrs and asked if they could do an affordability check. They asked me about income and outgoings.

Hm, I'm not sure if I like the undercurrents of what is being reported there (and please understand Dragon Train this is not directed at you, but rather at NRAM).

I understand it is reasonable for a financial institution to expect interest rates to rise within the next 3 years. Having said that the BoE MPC decided just today to keep the base rate at 0.5% (for the 49th consecutive month). However it is likely to rise at some point, and we all know as soon as it does all the mortgage lenders will increase their SVRs (though I'm sure I won't be the only one who remembers that not all base rate falls produced a consequent fall in SVRs).

However, what is the purpose of NRAM doing an affordability check at this stage? What do they intend to do if the check shows you won't be able to afford the mortgage when the interest rate goes up? Charge you more interest now so the pain starts earlier (removes tongue from cheek!)? Offer you counselling, or point you at an organisation such as CCCS (why, you're not in difficulties yet?)?

I have to think that if I was asked to go through an affordability check I would politely decline and point out that NRAM are getting their repayments from me as expected every month (though I have to admit I'm not sure I would have the bottle to do that).

itsMy_Money

NRAM Problems - for the past 8 months we were reassured that we could take a MORTGAGE HOLIDAY in march 2013 (approx £730. as long as we paid 9 months full and on time( which we did). Then two days before we left Nram said no, as we were paying 0 % on our unseccured mortgage of approx 18,000. ??? so now they want an income and ependiture form done asap! and proposed £30. extra a month = :-( they want more! - to top it all off they have decided we have redress of £604. which they have taken off our unsecured loan, on 24 th march - said it could not be transferred to our secured mortgage, as "it has already been done"
has anyone else had problems - and does anyone know a senior person? I could write to as I feel this is Unfair!
What would others do??? Please x

lennonc1

I can't believe it!!

They have redressed my loan after I have wrote to them to them to tell them DO NOT redress my loan as it in dispute and with the fos! Bad nram!
Now this makes it harder to challenge them and they know it! However make my case much better as they clearly don't listen to customers.
I am not a happy bunny today!

shaney1981

They haven't redressed mine but they have however politely reminded me i am in arrears etc. I hold out absolutely no hope for a satisfactory resolution. Take me to court, do it, I want to set a legal precedent

lennonc1

They have cleared arrears also. I had 2/3 months arrears on that loan, none on others. You will have your arrears cleared I imagine!!

shaney1981

arrears cleared but not on my mortgage.... as requested

cot1198

lennonc1 wrote: »

I can't believe it!!

They have redressed my loan after I have wrote to them to them to tell them DO NOT redress my loan as it in dispute and with the fos! Bad nram!
Now this makes it harder to challenge them and they know it! However make my case much better as they clearly don't listen to customers.
I am not a happy bunny today!

Me too.

This gets me madder than them dictating redress methods.To totally ignore customers wishes is out of order no matter how they dress it up. They told me at first they could not pick out loans that did not want redress from those that did because of the volume and a lot of the process was automated. I told them that was not my problem and I expected them to take my wishes into account. I then spoke to a manager who said the had to redress the loans or they would be at detriment.

cloud12321

sounds like awfull news