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

MikeMouse

Hi,

Like others here I am waiting to see if I get a refund/credit. Could really do with it.

I have just noticed that my credit report has had "AP" placed against the unsecured loan from NRAM. Could this be related to this issue or just a coincidence? I was only one month in arrears so surprised they would do this.

If it turn out that they owed me some credit I hope this would remove the AP part as it would more than balance one months arrears .....

Thoughts?

MikeMouse

PS I still rue the day I ever called that Northern Rock number - paying a furtune to stay afloat on a high interest rate but as I cant move anywhere else its that or get kicked out ........

faz33

I received the first letter. And is awaiting the outcome of the redress. I think I am affected as the last two mortgage statement are drafted different. Last one showing original loan amount. But I have not received my January statement yet. ?

Bigkev999

Just called NRAM to make my monthly payment and asked for an update, he said simply that they have no information he can see no comments on the account and he believes we will receive a letter mid Feb that will detail there proposals.

mhmmhm

Well the much-mentioned 8 weeks ends next week, so I am expecting a letter by next Friday.

debi15

MikeMouse wrote: »

Hi,

Like others here I am waiting to see if I get a refund/credit. Could really do with it.

I have just noticed that my credit report has had "AP" placed against the unsecured loan from NRAM. Could this be related to this issue or just a coincidence? I was only one month in arrears so surprised they would do this.

If it turn out that they owed me some credit I hope this would remove the AP part as it would more than balance one months arrears .....

Thoughts?


MikeMouse

PS I still rue the day I ever called that Northern Rock number - paying a furtune to stay afloat on a high interest rate but as I cant move anywhere else its that or get kicked out ........

What does the ap mean

Hawkings_Boots

debi15 wrote: »

What does the ap mean

Agreement to Pay?

skilling

Hello there, ive been reading this thread for while now and apolagize in advance if im going over old rope but im abit confused. I recieved a letter in dec from nram but im unclear on what loan its for. When is nram talking about is it from 2008 till now or all loans previous to 2008????

I had a together mortgage in 2003 with an unsecured loan of 8k, paid this of when we bought our second property in 2005 and borrowed a further 20k unsecured loan on a together mortgage, paid this of again in 2007 when we bought our house were in now but borrowed a further £24k unsecured loan that were paying in a together mortgage. We also borrowed a secured loan of 10k in 2005.

Now, would they send out a letter for each loan? or does anyone have any ideas of dates so i can understand what loan they are talking about?

many thanks.

craaaigo

skilling wrote: »

Hello there, ive been reading this thread for while now and apolagize in advance if im going over old rope but im abit confused. I recieved a letter in dec from nram but im unclear on what loan its for. When is nram talking about is it from 2008 till now or all loans previous to 2008????

I had a together mortgage in 2003 with an unsecured loan of 8k, paid this of when we bought our second property in 2005 and borrowed a further 20k unsecured loan on a together mortgage, paid this of again in 2007 when we bought our house were in now but borrowed a further £24k unsecured loan that were paying in a together mortgage. We also borrowed a secured loan of 10k in 2005.

Now, would they send out a letter for each loan? or does anyone have any ideas of dates so i can understand what loan they are talking about?

many thanks.

The easiest way to look at it is to completely disregard anything that wasn't in place in 2008 when Northern Rock split into two. The problem relates to them not sending out the correct paperwork at this point so any loan that had been redeemed before such a point is unaffected.Any refund would then be based on interest paid on the unsecured loans from that point in 2008 until either present day or redemption.

cot1198

We got our letter in December too.
Our unsecured part of our together mortgage has been in a debt management program for the last 12 months. So we have arrears of about £800 built up. If any redress is over this amount will it clear the arrears or will it just come off the balance? If it does clear the arrears what are the chances of then taking a payment holiday do you think.

craaaigo

cot1198 wrote: »

We got our letter in December too.
Our unsecured part of our together mortgage has been in a debt management program for the last 12 months. So we have arrears of about £800 built up. If any redress is over this amount will it clear the arrears or will it just come off the balance? If it does clear the arrears what are the chances of then taking a payment holiday do you think.

Pretty low im afraid. Payment holidays are generally only granted after a sustained period of consecutive full monthly payments on your mortgage so if you have recently been in arrears its unlikely that such a request would be granted.