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

jamtree

VT82 instead of jumping to the end
I suggest you go back a few pages and read what other have said on this

HighH0pes

suburbanwifey wrote: »

The tax payer is all of us, correct. The Govt. get their tax from all of us out here, most of us don't get value for money for the sheer amount of tax they take from us, me especially! I pay a freaking fortune out by force. I personally have nothing to do with this NRAM debacle but am reading this thread out of interest. I am wondering why some are complaining that the tax payer will pay? I think its great some people out here will get something back from all the money we have paid in, better that than it going to wars, foreign aid or funding the lush lifestyles of MP's!

Well said, in this country we are simply sheep farmed for our taxes for the benefits of the elites. Someone mentioned in this forum that the cost to the tax payer was £9.00. Can I mention the cost to the taxpayer for the upkeep of the Royal Family is around £0.69p this is a lot of money in the grand scale of things when massive cuts are being made for the so called deficit. The deficit is the perfect excuse for the conservatives to cut more public services.

rmart

carlyberyl wrote: »

This is exactly our problem!

I think everyone with a loan over 25k should start a seperate thread then we can all discuss news from NR without having to trawl through all other posts on this excellent thread for those with loans under 25k

Pie-rosenberg

Im also stuck with the together mortgage and have a unsecured loan of £17,000. I have dug out my original loan offer and all statements i have received since 2005 and non of them stipulate what the original loan offer was, just the opening and closing balance not just the ones from 2008. I have had my nram mortgage for just over 7 years. The first 5 were fixed at 5.9% and then reverted to a rate guaranteed to be below the svr according to my loan offer. Im currently paying 4.8% interest. 0.1% below the svr of 4.9%. Has anyone noticed that they haven't received the loyalty discount of 4.54% interest after 7 years, because nram had give them the rate 0.1% below svr therefore they were on this 'special rate'. I have contacted them yesterday asking why i havent received the discount and my querys been sent to a specialist department. They do not have a clue whats going on at the call centre.

lizards

Yeah, I had that with the SVR. I rang them to ask and had a standard letter back eventually saying that I already had a "special" rate 0.01% (or something stupid) under the SVR so it didn't count. Basically creating a loophole. I can't imagine that anyone would actually be covered as isn't nearly everyone on the Together mortgage?

This is why I don't feel bad about any potential repayment because they've been tricksy with us over so many things, this is just one of a long, long list of screwing us over.

Pie-rosenberg

Im going to contact the FSA. I noticed someone on another forum did and they backed down. I was looking forward to a £40 saving each month and now they are going to decline it because of this "special rate im receiving". I just wish at the age of 21 when the mortgage broker pushed this fantastic mortgage to us, that i wasnt so naive. So basically this loyalty discount isn't worth the paper its written on. I can't believe they can pull tricks like this.

Pie-rosenberg

Pie-rosenberg wrote: »

Im going to contact the FSA. I noticed someone on another forum did and they backed down. I was looking forward to a £40 saving each month and now they are going to decline it because of this "special rate im receiving". I just wish at the age of 21 when the mortgage broker pushed this fantastic mortgage to us, that i wasnt so naive. So basically this loyalty discount isn't worth the paper its written on. I can't believe they can pull tricks like this.

geeka

Anyone else got an opinion?

geeka wrote: »

after digging out my statement it looks like ive got 3 diff secured ones, dont have a 16 digit account number.

2004 - 9k
2005 - 16k
2006 - 13k

total about 38k

how does that affect things CCA wise? any ideas?

Thanks

lizards

Pie-rosenberg wrote: »

Im going to contact the FSA. I noticed someone on another forum did and they backed down. I was looking forward to a £40 saving each month and now they are going to decline it because of this "special rate im receiving". I just wish at the age of 21 when the mortgage broker pushed this fantastic mortgage to us, that i wasnt so naive. So basically this loyalty discount isn't worth the paper its written on. I can't believe they can pull tricks like this.

Good luck! Do let us know how you get on, I completely agree with you. I was told all about this fabulous discount we'd get as well. And guess what :wall:

PAUL67

Hi,

After looking through all my documents i feel confident that i am one of the several due a refund of interest paid due to this mistake. Now after creating a spreadsheet of payments etc i estimate that the interest paid on my loan in particular comes to a total of approx £2200 - £2300 based on a period of 4 full years.

My loan is still with NRAM therefore any refund will be taken off the balance of the loan. My question is that how in general will the remainder of the loan work, i.e will i continue paying the same amount as i do now only over a shorter period or will the monthly payment reduce to cover the (overpayment) and the term remain the same.

Any comments appreciated.