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

lennonc1

I completely agree, I would prefer the money and terms stay as they were! I am in so much negative equity that reducing my mortgage by what I'm due wont really help to be honest!

mhmmhm

craaaigo wrote: »

In my opinion people are barking up the wrong tree with this as the real issue everyone should be asking is whether or not they are going to pay YOU any interest for the money that they've kept that they weren't entitled to.

Yep - I was just thinking this myself and then your post popped up!

shaney1981

I am currently drafting a letter to nram stating i wish any redress to be taken from my arrears first then from any outstanding balance secondly stating as they have acknowleged my interest payments on it are unenforceable, I will not be making interest payments on that part of my loan until their next steps are made clear.....

mariechrisbulll

shaney1981 wrote: »

I am currently drafting a letter to nram stating i wish any redress to be taken from my arrears first then from any outstanding balance secondly stating as they have acknowleged my interest payments on it are unenforceable, I will not be making interest payments on that part of my loan until their next steps are made clear.....

Ooo this sounds a good idea.. Would u email me what you put? I'm in same boat :-)

mariner_72

Ive read right through this thread & am still confused as to weather im'e entiteled to any refund.
I re-morgaged in 2007 & borrowed an extra £25000 which on the morgage paperwork states is a secured loan,but on my statements it shows as one lump sum of £69000.
I haven't recieved any letters regarding the matter.
Have they over looked me or do i not qualify? ime going to ring them to make sure.
My a/n is not 16 digits,& it states on there website £25000 of credit or less.
Had a morgage 19 years with these clowns be nice to get something back.
thanks :rotfl:.

craaaigo

shaney1981 wrote: »

I am currently drafting a letter to nram stating i wish any redress to be taken from my arrears first then from any outstanding balance secondly stating as they have acknowleged my interest payments on it are unenforceable, I will not be making interest payments on that part of my loan until their next steps are made clear.....

Ill keep saying this because its so important - witholding your mortgage payments (or any part of them) could have disastrous consequences on your credit rating and ability to get mortgages in the future. Please do not under any circumstances do this!

craaaigo

mariner_72 wrote: »

Ive read right through this thread & am still confused as to weather im'e entiteled to any refund.
I re-morgaged in 2007 & borrowed an extra £25000 which on the morgage paperwork states is a secured loan,but on my statements it shows as one lump sum of £69000.
I haven't recieved any letters regarding the matter.
Have they over looked me or do i not qualify? ime going to ring them to make sure.
My a/n is not 16 digits,& it states on there website £25000 of credit or less.
Had a morgage 19 years with these clowns be nice to get something back.
thanks :rotfl:.

£25,000 exactly is the magic number. If it was definitley an unsecured loan and definitlely not a penny over this then the signs are encouraging.

Thrifty_Pixie

craaaigo wrote: »

Ill keep saying this because its so important - witholding your mortgage payments (or any part of them) could have disastrous consequences on your credit rating and ability to get mortgages in the future. Please do not under any circumstances do this!

i can't stress this enough either. whether we think the way they're doing things is legally or morally right or not is irrelevant where your mortgage agreements are concerned. you can't just stop paying because you disagree with them - that wasn't in the small print

dsw8

Tick tock tick tock...come on NRAM whats with the slow and painful progress. Surely you lot must be ready to check off some of the easier redress cases already?
Time is money and the interest on what you lot owe is stacking up. I for one will be looking with great attention as to how the redress is calculated and I presume interest will be added to the sum taken in error over the years.
I am expecting a full cost breakdown and expect a line for interest as a matter of course...tick tock tick tock

mhmmhm

Seriously dsw8? The letters received at the start of Feb (for many of us) said that they'll send updated statements etc within 12 weeks. I'm not expecting anything before mid-April at the earliest...

I'm quite happy with this actually - the secured part is paid off so I'm essentially sitting on an interest-free loan with NRAM at the moment; money to pay it off is in savings elsewhere ready for the day when they send out the statements and I start being liable for interest again.