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

firehamster

Canesplitter wrote: »

Re the above message it would be really helpful if you(someone?) could provide the contact details for northern rock...I had a loan with them which was paid off and have moved house since so don't have paperwork and a google search just seems to point me to virgin money...can anyone assist with phone numbers for Northern Rock please?

Thanks

Mike

I was in a similar position. Paid off my mortgage/loan last year and moved house. Phoned 0845 609 9626 this morning and changed address details with no problem. They hope to have everyone contacted within 8 weeks.

~Brock~

Does anyone else think that threads such as this end up reminding you of a game of Hungry Hippos?

DevCoder

~Brock~ wrote: »

Does anyone else think that threads such as this end up reminding you of a game of Hungry Hippos?

Agreed. The tax payer is paying for this anyway

HighH0pes

As per the Important information about NRAM CCA regulated loans
It is clear that any redress due will be reduced from your existing NRAM account.

So looks like you have no option on how to receive any possible redress.

I will be keeping an eye open to see if any Claims Management Company's are able to redress this directly back to the customer.

After all, I'm the one paying the interest on this and they made a gaff of the paperwork nullifying the interest payments.

Noble_Savage

HighH0pes wrote: »

As per the Important information about NRAM CCA regulated loans
It is clear that any redress due will be reduced from your existing NRAM account.

So looks like you have no option on how to receive any possible redress.

I will be keeping an eye open to see if any Claims Management Company's are able to redress this directly back to the customer.

After all, I'm the one paying the interest on this and they made a gaff of the paperwork nullifying the interest payments.

Why on earth would you want to give up to 40% of your redress to a Claims Management Company? They're not charities, you know - they'll want their slice of the pie.

jamtree

Good morning
I have a NR loan which is paid off next year in june
It was an 8.5k loan taken out in 2006
I cant find the original paperwork or any statements (the wife is away)
I read that if i have a 16digit account number im not eligible for a refund
i checked my Bank via internet and its Says NRAM then a 16 digit number im guessing thats my account number and the news i wasnt wanting to hear

ClaretMatt_2

Hi all...

I've got a Northern Rock "Together" mortgage and almost certainly fit the profile for eligibility for an interest refund. I got taken to court by NR a couple of years back for the unsecured loan and the outcome was that they got a charging order to effectively secure the unsecured loan. Looking back, this was the first step to repossession but I managed to steer the ship away from the iceberg and now all is well.

This business has set me wondering, would it be grounds to apply to have the judgement set aside? Be nice to whip the CCJ off my records and all since I've been trapped into a negative equity mortgage with a CCJ padlock for good measure!

HighH0pes

Noble_Savage wrote: »

Why on earth would you want to give up to 40% of your redress to a Claims Management Company? They're not charities, you know - they'll want their slice of the pie.

I appreciate your comment. Maybe I badly phrased something but I have not specifically said I will use a CMC for any redress. The point being is that if people are getting a direct redress through a CMC then this opens a road for customers to get a direct redress from NRAM.

In the past on this website there has been excellent advise and downloadable forms given for various claims, this sort of assistance is the approach I would be looking into.

As you point out 40% of a claim is a huge chunk of cash down the drain.

Thanks for your comment.

lutzi1

Taken from the Northern Rock website:

"We are currently assessing the full impact of this issue and are writing to all NRAM customers who are affected to advise them on the next steps we will take. NRAM mortgages and standalone unsecured personal loans are unaffected by this issue".

So according to them, unsecured loans are not due for compensation.

Fizzy_Fish

bigbadwolf500 wrote: »

I have a £30k loan as part of their Together mortgage. Just checked my documents and it clearly states on the document that its subject to the CCA 1974, even though pre 2008 there was a £25K threshold!
All my NRAM statements don't show the original loan sum borrowed.
Could get interesting!!

+1 Guess we just watch and wait!