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

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Comments

  • Got our second letter a few days ago, yes we were mis sold the plan, yes we now have to wait another 12 weeks for the ajustment on our loan. tick tock tick tock. its all a waiting game.
    .
  • lennonc1 wrote: »
    We shall just have to sit tight I suppose but don't pay your affected loan until they have complied with the cca as it is unendurable until then 12 wks! So I might just not pay until then and I know.

    No offence but this is a very bad idea. Failure to pay 3 months loans repayments would cause no end of problems to your credit rating and prospects of remortgaging anywhere else in the short term future.
  • ...... quite understandably they are and should be correcting existing customers first ......

    Why? Anyone who was a customer at the time of the error should be treated exactly the same, whether they are current customers or not. It makes it easier for NRAM to deal with existing customers first as they have current details to work with (and keeps the baying crowd, well, at bay), but there's absolutely no reason why people who have paid off debts with them should have any recompense delayed just for being 'ex'. An error is an error and they are owed exactly the same as anyone else. :huh:
    Mortgage-Free Wannabe
    Mortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)
    Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)
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  • morning everyone. this question has probably been asked somewhere on here but im gonna ask it anyway. Ive had the second letter to confirm iam entitled to redress on my loan. does anyone have an understanding as to what the consiquences would be if didnt pay my mortgage this month? was going to ring nram for a chat but getting through to them is a challange at the best of times. my account is up to date at present. cheers guys.
    :cool:Embrace The Chaos!:cool:
  • jonesy1973 wrote: »
    morning everyone. this question has probably been asked somewhere on here but im gonna ask it anyway. Ive had the second letter to confirm iam entitled to redress on my loan. does anyone have an understanding as to what the consiquences would be if didnt pay my mortgage this month? was going to ring nram for a chat but getting through to them is a challange at the best of times. my account is up to date at present. cheers guys.

    You'd have a missed mortgage payment logged against you on your credit history which would severely dent your credit score and impact on your chances of getting a mortgage elsewhere in the next few years. Do not do this!!!
  • STILL don't have my letter! Called them today and they said it must be lost in the post so will request another one. She said they all just said they need more time to investigate but I know that's rubbish as most of you have had your letters to say you are entitled to a redress. She also said its basically a goodwill gesture we are getting anything back- again a load of rubbish. There's no goodwill about it, it's the law! Hoping this letter gets to me now. I don't think they realise how big a deal getting money off our loans really is or how stuck we are until they are gone!
  • Hi all. I spoken to NRAM on friday to confirm which loans they would be looking into. I was told that any interest potentially refunded would run from Jan 2009 to Dec 2011? I thought it was Oct 2009 to present day. Anyone any thoughts on this?
  • chips78
    chips78 Posts: 34 Forumite
    I just spoke to someone from NRAM and they confirmed that they are looking into all open accounts first and then ex-nram customers next.
    Its not perfect but least it means that I may still be eligible.
  • mhmmhm
    mhmmhm Posts: 51 Forumite
    G4S21 wrote: »
    Hi all. I spoken to NRAM on friday to confirm which loans they would be looking into. I was told that any interest potentially refunded would run from Jan 2009 to Dec 2011? I thought it was Oct 2009 to present day. Anyone any thoughts on this?


    That is not what's written in the letter I received - it says interest up until they sort it out - i.e. I assume approx April 2013
  • Why? Anyone who was a customer at the time of the error should be treated exactly the same, whether they are current customers or not. It makes it easier for NRAM to deal with existing customers first as they have current details to work with (and keeps the baying crowd, well, at bay), but there's absolutely no reason why people who have paid off debts with them should have any recompense delayed just for being 'ex'. An error is an error and they are owed exactly the same as anyone else. :huh:

    IMO it makes sense NRAM sort existing customers out first as they are still being wrongly charged (from what I'm reading on here) so the quicker that is sorted out the better (not just for NRAM but for the customer) and if I were still an existing customer I would want priority treatment over ex customers so agree with what NRAM are doing but hey that's just my opinion ...... All that said, as an ex customer myself who thinks could be entitled to a refund ...... If I am I will get it just may have to wait a bit longer than existing customers ...... But I luckily got away from NRAM so am no longer paying a loan/mortgage which wasn't regulated correctly! Yes, totally agree an error is an error, and as long as they sort it out I personally will be happy with that!
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