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MSE News: Northern Rock pays £270m to 150,000 after gaffe
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Has anyone received a second letter stating they will have to wait another 12 weeks due to 'the complex nature of cca regulations'...?0
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Hi,everyone,
Just been looking on the NRAM website,and i see,they have a loyalty discount,of 0.25,on the SVR,if you have had,your mortgage on the same property for 7years,payments are up to date,not in an early repayment charge period,and are not benefiting from a special rate ( fixed rate or tracker rate ) Has anyone moved onto this,probably not the right thread,but a lot of us on here,have NRAM mortgages.:)http://ask.n-ram.co.uk/help/mortgages/loyalty-discount
Ooooh,my 1st copy and paste,get me!!!Total Mortgage amount borrowed
£129,176.55 Dmr 2005/ £90,485.00
Current savings £3000:T0 -
Hi,everyone,
Just been looking on the NRAM website,and i see,they have a loyalty discount,of 0.25,on the SVR,if you have had,your mortgage on the same property for 7years,payments are up to date,not in an early repayment charge period,and are not benefiting from a special rate ( fixed rate or tracker rate ) Has anyone moved onto this,probably not the right thread,but a lot of us on here,have NRAM mortgages.:)http://ask.n-ram.co.uk/help/mortgages/loyalty-discount
Ooooh,my 1st copy and paste,get me!!!
I have had my mortgage for over 7 years and was hoping to receive the 0.25% reduction on interest. I contacted them and they sent me a letter stating that because i was on a together mortgage and was receiving a 'special rate' of 4.78% a whole 0.01% below the SVR then i was ot eligible for the discount. Im really angry considering its on the NRAM website and the majority of their mortgages are the together ones, so i do not see who will actually receive this loyalty rate. Im in the process of writting a letter of complaint to them. A poster on another forum did by threatening them with the ombusdman, this bizare loophole makes all together customers not qualify for it. I know its not a huge discount but seems a bit underhand to me.0 -
I have had my mortgage for over 7 years and was hoping to receive the 0.25% reduction on interest. I contacted them and they sent me a letter stating that because i was on a together mortgage and was receiving a 'special rate' of 4.78% a whole 0.01% below the SVR then i was ot eligible for the discount. Im really angry considering its on the NRAM website and the majority of their mortgages are the together ones, so i do not see who will actually receive this loyalty rate. Im in the process of writting a letter of complaint to them. A poster on another forum did by threatening them with the ombusdman, this bizare loophole makes all together customers not qualify for it. I know its not a huge discount but seems a bit underhand to me.
Yup exactly the same here. It's a classic bait and switch. They reduce your rate by 0.01% and call it "special" so you don't qualify for the "loyalty" rate. All perfectly above board and a classic example of what is wrong with our banking system where the aim is to stealthily extract money from customers.0 -
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drussmonkey wrote: »It would be really awesome if people would read just a bit of the thread before posting the same already-answered questions, over and over.
And yet no one has answered my question which hasn't yet been asked...0 -
To the above yes they have 12 weeks to sort out the mess and think they have been given an extension as it meant to be 8 weeks but due to the complex nature of this and so many hundred thousand affected so by 12 weeks you will have all your amended up to date statements and how much redress to your loan (if not already redeemed) and how much payments will be in future, same term apply ie 30-35 years repayment!!! Hope that helps0
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Can anyone help me? I got a letter saying we too would be entitled to redress. We took out a 24,500 over seven years at 7.09% interest effective date was August 2007 so due It's due to finish in August 2014. Can't even work out what we might get back. Also would they reduce the term or just reduce the monthly payment till next August. Thanks v much0
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Someone has said reduce the payments. Sounds like u have a tidy sum to be returned x0
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