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

Keith

Unknown to you? it was clear throughout what we got, but we read the paperwork

dsw8

mhmmhm wrote: »

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.

Oh yes this is sweet - I waited patiently and kept my powder dry and then WHAM just like I knew NRAM has come through as expected. I love always being right.

Roll n tomorrow and the sound of redress shall ring in my ears for the rest of the day

redress redress I love it

goaten2000

lennonc1 wrote: »

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,

I'm going to play devil's advocate now... I knew (as I'm sure the majority of people who took the together mortgage did) that it was part unsecured loan etc but putting that to one side... what difference does the make up of the money make?

Whether it was a 120% mortgage or 95% mortgage plus loan, the overall amount that you borrowed would have remained the same so how can northern rock be at fault? You knew how much you were borrowing so you would have still been in the same position today had you taken a 120% mortgage (actually, you would have been in a worse position because you would not have been getting this redress).

Some people should count themselves lucky in my opinion. I unfortunately have a loan above £25k therefore a it stands, am getting nothing from this. I'm not bitter about it, the rules are the rules and I'm keeping a close eye on this thread along with a couple of others, but please consider the facts and what you are saying.

jimmy1000

Here,here

Totally agree we are. Fortunate to get redress to our balance.its not winding up I tell the truth and honest.

You and me took the mortgage on and we face the task of paying it back whatever the terms

Get a grip Lennon and got you are not getting gash back forget it sure you can argue we had all this on the bank charges eventually it went to Supreme Court who told you and me to get stuffed..

Nram have stuck it to us re the balance reduction they have a small victory

Finally you will not get a cheque back Lennon solicitor knows this..

It's game over folks..sorry one or two ball busters will carry on..but all to no avil..

Ps I want cheque back:cool:

lennonc1

I agree with you! I mean at the time I didn't know the difference! I just feel it should have been explained better to me!
I am lucky to get this redress but would like to be offered the choice of how the refund is paid! I do ramble a little when I post so apologise if they are not thought through!

realdeal1011

Phoned last night and NRAM have applied the redress to my mortgage/unsecured loan account to the value of approx £2730 (dont have the exact figure at hand).

Not sure if it is the correct amount, i had a Together Mortgage with an unsecure loan to the value of £17K.

lennonc1

jimmy1000 wrote: »

Here,here

Totally agree we are. Fortunate to get redress to our balance.its not winding up I tell the truth and honest.

You and me took the mortgage on and we face the task of paying it back whatever the terms

Get a grip Lennon and got you are not getting gash back forget it sure you can argue we had all this on the bank charges eventually it went to Supreme Court who told you and me to get stuffed..

Nram have stuck it to us re the balance reduction they have a small victory

Finally you will not get a cheque back Lennon solicitor knows this..

It's game over folks..sorry one or two ball busters will carry on..but all to no avil..

Ps I want cheque back:cool:

Thought you were away jimmy!!! Away back under your rock and leave the ones that are helping each other to it please!

lennonc1

realdeal1011 wrote: »

Phoned last night and NRAM have applied the redress to my mortgage/unsecured loan account to the value of approx £2730 (dont have the exact figure at hand).

Not sure if it is the correct amount, i had a Together Mortgage with an unsecure loan to the value of £17K.

Do you agree with this?

realdeal1011

lennonc1 wrote: »

Do you agree with this?

No, hence why I complained and quoted your post (the advice from your laywer)

lennonc1

Good stuff!!! I will be calling them shortly to see if my account has been adjusted and if so will complain as well, then perhaps a call to lawyer and check as yesterday I didn't know it was happening already thought I had couple of weeks to know exactly what our rights are!