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

jimmy1000

lennonc1 wrote: »

jimmy1000 wrote: »

Not at all, this is just the beginning, the lawyer agreed with me! I feel very confident. So does he! It's not over until I am completely satisfied. But thank you for your concern!

Lets get this right I want a cheque but no cheque is coming sure put a small compliant than nram will pay out 270 million:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Cash lol

You and cot equals no cheque:eek:

Can't we agree to thank nram?

Scoop82

Hey guys,

I've been following this thread almost daily since December. This is a genuine post ... I contacted NRAM today in relation to a different enquiry and I can confirm that they have applied the redress to my mortgage/unsecured loan account (mine is a together mortgage). I have received no additional letters since the letter received about 3 weeks ago (confirming that I was entitled to redress). I, like many others on the forum, believe that the method of redress should be optional but they appear to have gone ahead and applied it in this way.

lennonc1

Thank them for what exactly? I have had nothin but hassle with them from day one!

Anyway I hope you check back in a couple of months for an update !
Been lovely chatting, have baby to put to bed now! Night all!

lennonc1

Scoop82 wrote: »

Hey guys,

I've been following this thread almost daily since December. This is a genuine post ... I contacted NRAM today in relation to a different enquiry and I can confirm that they have applied the redress to my mortgage/unsecured loan account (mine is a together mortgage). I have received no additional letters since the letter received about 3 weeks ago (confirming that I was entitled to redress). I, like many others on the forum, believe that the method of redress should be optional but they appear to have gone ahead and applied it in this way.

Yes it appears to be that way, I will speak with them tomorrow! I really think they should not alter term without your consent though!

Glasgow77

Jimmy, we know your opinion now and for what it's worth I 95% agree with you. But for a great many people on here, myself included, the thought of getting the cash instead of redress would really get us out of a hole. I am struggling to make the payments and the cash would clear off a lot of debt and free up significant sums of monthly payments which keeps me afloat.

While there is still even only a 5% chance (in my opinion) of this happening I am all for Lennon and cot fighting the case of the small man (me). Their posts are constructive yours (after stating your opinion) are now repetitive with a poor taste of winding people up. I find it strange how you can wind people up over something that is a very serious subject to a lot of people, please remember that a lot of people are redundant, struggling with work or simply overwhelmed with their outgoings versus their incoming monthly money.


Please respect people like me who value this forum thread and hope for the small chance of a cash settlement.

Hopelessly_Hopeful

Glasgow77 wrote: »

Jimmy, we know your opinion now and for what it's worth I 95% agree with you. But for a great many people on here, myself included, the thought of getting the cash instead of redress would really get us out of a hole. I am struggling to make the payments and the cash would clear off a lot of debt and free up significant sums of monthly payments which keeps me afloat.

While there is still even only a 5% chance (in my opinion) of this happening I am all for Lennon and cot fighting the case of the small man (me). Their posts are constructive yours (after stating your opinion) are now repetitive with a poor taste of winding people up. I find it strange how you can wind people up over something that is a very serious subject to a lot of people, please remember that a lot of people are redundant, struggling with work or simply overwhelmed with their outgoings versus their incoming monthly money.


Please respect people like me who value this forum thread and hope for the small chance of a cash settlement.

Well said

Thank you

HHx

Scoop82

I agree, to reduce the term of a mortgage account, without any consent from the borrower, is not the correct process (this is a fact). At this stage, having not received any documentation confirming exactly how the redress has been calculated and what impact this has had on my original agreement (such as a reduction of term) I cannot comment any further but I shall monitor this forum daily, as I have for the past 3 months. There is much more to NRAM's method of redress, than meets the eye.

lennonc1

Glasgow77 wrote: »

Jimmy, we know your opinion now and for what it's worth I 95% agree with you. But for a great many people on here, myself included, the thought of getting the cash instead of redress would really get us out of a hole. I am struggling to make the payments and the cash would clear off a lot of debt and free up significant sums of monthly payments which keeps me afloat.

While there is still even only a 5% chance (in my opinion) of this happening I am all for Lennon and cot fighting the case of the small man (me). Their posts are constructive yours (after stating your opinion) are now repetitive with a poor taste of winding people up. I find it strange how you can wind people up over something that is a very serious subject to a lot of people, please remember that a lot of people are redundant, struggling with work or simply overwhelmed with their outgoings versus their incoming monthly money.


Please respect people like me who value this forum thread and hope for the small chance of a cash settlement.

I agree thank you.
I have a small one bedroom house near Glasgow and current value apparently is 65k now even tho in 2007 was 68k and have renovated the whole house, and my mortgage is 77k currently so 10k negative equity because of their bad advice. I will never make anything on selling so if I can try and get something back I will definitely do so!

goaten2000

lennonc1 wrote: »

10k negative equity because of their bad advice.

I'd be very suprised if NRAM / Northern Rock gave you any advice whatsover. They offered a product, you took it - no one forced you to take the mortgage. Isn't it against FSA rules for banks etc to offer advice?

lennonc1

Well they did, the agent told us that 'together' mortgage was our best deal, unknown to me that this 120% mortgage wasn't really 120% but 95% with a huge unsecured loan! This wasn't explained to us at all or the fact if you sold and still had unsecured loan it would jump 12% on top of current rate!
Yes I was young and naieve and should have had legal advice so my fault! Now stuck with nram with no rights like I had in the beginning,