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

luckwudaveit

Me too. Cheque being issued for an unsecured loan that I had cleared. Unexpected bonus.

chips78

Awesome news, here's hoping i got some post.

kazonuk

still no letter (ex-customer, less than 25k unsecured loan between 2006-2012 etc), have been very patient so far but I think it's time to make a complaint, what address would people suggest?

Customer Relations
NRAM mortgages operations
PO Box 625
Durham
DH1 9JJ

customerrelations@n-ram.co.uk

thanks for any advice

chips78

Ex-nram customer and still no letter

lennonc1

Email them and raise a complaint about it.
They have 8 weeks to resolve it and insist they give you an estimated time on when you will get a cheque.

daisymay2008

kazonuk wrote: »

still no letter (ex-customer, less than 25k unsecured loan between 2006-2012 etc), have been very patient so far but I think it's time to make a complaint, what address would people suggest?

Customer Relations
NRAM mortgages operations
PO Box 625
Durham
DH1 9JJ

customerrelations@n-ram.co.uk

thanks for any advice

yes i also lost patience and sent an official complaint by email a few weeks ago and guess what? they didn't even acknowledge my complaint lol complete shotgun outfit! i will complain to FOS as soon as the 8 weeks are up, 5 months is ludicrous to sort this out anyone would think they were a government owned company

plymouthscubagirl

I called several times and was told someone would look into it. Never received any acknowledgement at all until this letter turned up out of the blue.

cot1198

I am glad to see that NRAM are at last getting around to paying redress to ex-customers and hope all those still waiting get contacted soon.

It does make me think though about the basic argument existing customers have about CCA redress paid directly back to their accounts.

If redress is to put customers back in a position they were in before the period of non compliance, then of course NRAM need to pay this money back to ex-customers in the form of cash. They have no option as these loans are paid.
I feel that existing customers are being treated unfairly by NRAM just because they have not paid off their loans. I also find it a little distasteful that some people are trying to portray existing customers as money grabbers. Would these people think ex-customers receiving cash payments are money grabbers also?

So, if ex-customers can be put back into a pre-noncompliance position by way of cash payments then so can existing customers there is not, and should not be any difference between the two in terms of how they are treated by NRAM. Balance reduction is not and should not be the only option for these people. The point is there are other redress options it is just that balance reduction for existing customers is the best one for NRAM.

InkZ

Lets face it, there just isn't £270 million pounds of cash sat in a bank account ready to pay NRAM customers that have suffered no loss due to a technicality on a statement, no matter what your sense of entitlement. If they do it for a handful then they have to do it for everyone.

It doesn't really matter how unjust people feel they are being treated, the money isn't there, so any complaining is basically a waste of time.

I'm going to sit here and wait for my cheque as an ex customer and then I'm going to use it to pay off some of my new mortgage.

IainHL

InkZ wrote: »

Lets face it, there just isn't £270 million pounds of cash sat in a bank account ready to pay NRAM customers that have suffered no loss due to a technicality on a statement, no matter what your sense of entitlement. If they do it for a handful then they have to do it for everyone.

Actually there is. Somewhere way back in one of the threads someone posted something they had found on one of the government websites (Office for National Staistics maybe?), that listed what adjustments this would make to official monetary numbers, and one of them was an increase of £270 million in the borrowing requirement.