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

2522laura

DIY_Dave wrote: »

We got our first letter through on the 1st of July, signed and returned it the same day. Today we got a further letter through to say verification checks have been successful and we will be getting a cheque in the next 28 days for £2,688.11, well chuffed with that!

I would also be interested to know when you redeemed and how much you borrowed so I can get a rough idea what I might get.

I got my letter on 15th July and sent it back next day and phones to check they received it (they had). I redeemed in October 2010 though and only had about £12k on the unsecured loan so only think I'll get £200 max - still will go towards my wedding next year

jonomassey

My Loan was for £24k and the interest element worked out around £103 per month (I took the charge from my mortgage statement and divided it by 4 months) then x this by the number of months I was affected which is 18 months as I redeemed it April 2011, so I've calculated I'm due £1854 plus interest so hopefully I'll get around the £2k mark fingers crossed.

2522laura

jonomassey wrote: »

My Loan was for £24k and the interest element worked out around £103 per month (I took the charge from my mortgage statement and divided it by 4 months) then x this by the number of months I was affected which is 18 months as I redeemed it April 2011, so I've calculated I'm due £1854 plus interest so hopefully I'll get around the £2k mark fingers crossed.

What was the interest rate you had? I think mine was around 5.99%

hotrats

I don't have my statement to hand, but wasn't the interest charged quarterly? If so you would divide it by 3 (not 4) wouldn't you to get the rough monthly interest figure?

jonomassey

Yeah mine was 5.99% as well, 3 year fix.

jonomassey

On my statements it says interest Jul - Oct so I took that as being 4 months as it showed 4 payments offsetting the charges 1 Jul, 1 Aug, 1 Sep, 1 Oct.

DIY_Dave

Cocolal wrote: »

Good news DIY Dave I bet your chuffed! Will come in handy I'm sure!

We got our letter on 9th July - posted back the same day! Hopefully we will hear soon . Could I please ask when you re-deemed with the northern rock?

We originally took our mortgage out in April 2007, at that time the unsecured part was £11,500 @ 5.79%. We redeemed the mortgage only in may 2011 but left the unsecured part with NRAM so the interest rate jumped to 12.79%. We redeemed this in August 2012.

Hope everyone else hears soon about their totals.

hotrats

jonomassey wrote: »

On my statements it says interest Jul - Oct so I took that as being 4 months as it showed 4 payments offsetting the charges 1 Jul, 1 Aug, 1 Sep, 1 Oct.

Ah ok, that sounds right. As I say I don't have statement to hand so must have misremembered.

hotrats

Finally got my letter and am entitled to redress. Despite having written to my new address before, they decided to send the redress letter to my old address. No idea why, and this is a duplicate letter following on from my call to them, but proof that there's hope out there for those still waiting.

hallowogan123

I received a letter from nram on Saturday. It stated that my declaration letter had been checked and verified, and that I would be receiving over £3000. It stated a cheque would be sent out within 28days.
Why they couldnt just slide a cheque in that letter I'll never know. It always just seems to drag on. Coming to closure soon though.