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

harrold

Hi,

we received a letter today stating an amount of redress we would be receiving relating to sending non compliant documentation from October 2009 until June 2011 when we redeemed the loan.

I was expecting a larger figure as I was under the impression that NRAM were non compliant before Oct 2009? Our loan dates back to May 2005 but I thought the irregularities were from around 2008?

Many thanks for any advice you can give!

InkZ

I think there was a period between the rules coming in and lenders actually having to comply.

It's always been October 2009 anyway. I'm pretty sure this info was in the letter confirming redress which had the stuff for you to sign and return.

hotrats

The change to the CCA happened in October 2008, but I believe they had a year to comply. Therefore they were only in breach after that year had elapsed ie October 2009.

Jonnyp28

harrold wrote: »

Hi,

we received a letter today stating an amount of redress we would be receiving relating to sending non compliant documentation from October 2009 until June 2011 when we redeemed the loan.

I was expecting a larger figure as I was under the impression that NRAM were non compliant before Oct 2009? Our loan dates back to May 2005 but I thought the irregularities were from around 2008?

Many thanks for any advice you can give!

Hi Harrold,

Can I be cheeky and ask much Nram gave you back with the CCA ?

The reason why I am asking because I borrowed 13k and I paid off my loan in Jan 2011

So I am try to get a rough figure on how much I may receive from October 2009 up until jan 2011.

Cheers
Jonathan

harrold

Thanks to advice Inkz and hotrats.

I am happy to divulge how much we got Jonathan. From a loan of around £16k between Oct 2009 and Jun 2011 at 6.49% switching to svr 4.89% somewhere in between we received just shy of £1100 back.

Moosetrish

I check the post box every day, my period of non compliance was oct 2009 to oct 2012 on 13000, so should hopefully get enough for carpet in my new house, I received my letter on 22/7 so a little later than yours but I still check the post box every day, I'm hoping for around the £2000 mark so anything extra is a bonus,

kazonuk

I got the letter a few weeks ago, still waiting for the confirmation letter (guess it should be soon) - I was paying roughly £100 per month in interest between Oct 2009 - July 2012 so should be getting a fairly nice amount

af010b6215

Phoned nram last week they told me they received my signed forms on 5th july and that i should have had a reply by 6 weeks that took us to 16th aug so i waited on my reply - no reply I phoned them this morning now they say no reply has been made so it was moved to the checking team to get processed i will phone them daily until this is resolved -

Bon33

We have had a letter saying that we are entitled to redress of just over £1700 :j

jonomassey

Bon33 wrote: »

We have had a letter saying that we are entitled to redress of just over £1700 :j

Congrats:beer: I received my letter the same day as you and returned it straight away so my letter will hopefully be here this week sometime.