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

Bon33

Hi,

Did it say on the letters advising you that you would receive redress when the interest would be calculated back to?

Bon

Glitterball_2

Bon33 wrote: »

Hi,

Did it say on the letters advising you that you would receive redress when the interest would be calculated back to?

Bon

It says:

What is the period of non-compliance?

This will generally depend on the date at which your agreement was made.

If your agreement was made before 1 October 2008, the period of non-compliance will have started on 31 October 2009.

If it was made on or after 1 October 2008, then the period of non-compliance will have started one year and 30 days after the date of your first drawdown under the agreement (i.e. when you first received money).

I hope that's what you're looking for

Bon33

Thank you

daisymay2008

Cocolal wrote: »

Hi Everyone

I am an ex customer and I redeemed my Northern Rock together mortgage in August 2010.

Received a letter today advising that I will be finding out by 31st July how to claim my redress


Thanks

how to claim? so they won't be sending out a cheque then?

Cocolal

daisymay2008 wrote: »

how to claim? so they won't be sending out a cheque then?

Hi,

To be honest I'm a little confused! I assumed I would be issued a cheque,however my letter said you will be contacted by 31st July and advised how to claim your redress?

Unless its something they pre- print and I return?

I'm not sure but as soon as I hear anything I will let you know.

Bye for now

Cocolal

Bon33 wrote: »

Hi,

Did it say on the letters advising you that you would receive redress when the interest would be calculated back to?

Bon

Hi,

My letter didn't stipulate any calculations or dates etc

It just said my complaint had been upheld and I would be contacted by 31st July on how to claim my redress?

When I get my further letter I will post on here whether it has calculations on with dates etc

Glitterball_2

daisymay2008 wrote: »

how to claim? so they won't be sending out a cheque then?

My letter said that they'd confirmed my loan was affected, and had a form I had to return to confirm I wanted the refund (!!! nice try NRAM) which would then be 'evaluated' for 'verification checks', then if they deemed it had passed these checks they'd write and confirm I was due redress and how much is due, and then send a cheque within 28 days after that.

Dragging things out till the bitter end.

stdaveuk

Hi there...new to these forums, and just catching up with the Northern rock refund matter, But i returned from holiday to find a letter from NRAM saying that due to an admin error on my application, i would be receiving a refund of £147.41, including 8% interest. The cheque for this ammount is attached, but reading articles on the internet, it seems as though the average person should be receiving around £1600. Now i know that it would depend on the ammount borrowed, and owed but none of this is shown in the letter as to how they have arrived at the ammount they are refunding. Should i request the calculations for how they got to this ammount ?

many thanks

Dave

Gemz2211

My letter confirms that my redeemed loan was regulated by the CCA and I am entitled to redress. There is a form to sign with 2 parts. First part to sign by everyone and the 2nd by people who's name may have changed since having the loan. If names have changed ID needs to be sent to verify the people. In this case checks will be made and a letter will be sent confirming the amount of redress, with a cheque following within 28 days. I take it if no name changes apply a cheque will be sent in 28 days as well.

Thrifty_Pixie

Cocolal wrote: »

Hi Everyone

I am an ex customer and I redeemed my Northern Rock together mortgage in August 2010.

Received a letter today advising that I will be finding out by 31st July how to claim my redress and that I am entitled to the interest I paid back.

I had an unsecured loan of under £25k. First contacted them last December and its taken until today.

To be fair they kept sending letters every four weeks saying they were still looking into things

I will post if I hear anything else

Thanks

Gemz2211 wrote: »

Hi I have been following this forum for a few months now and just thought I would let you know I have received my letter today saying I am getting redress finally they are doing something about it and we should all be informed soon. Happy days!

this is all good news! as an ex customer who has had nothing for months and only automated replies to my emails i shall be watching my mailbox avidly...