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

Hopelessly_Hopeful

realdeal1011 wrote: »

Strange that...I have a loan of £17k and only had roughly £2730 returned back?

Me too

Mine was £2838 on 19.5K

HHx

Keith

Refund received. very happy. Hope you all get the result you want

craaaigo

dsw8 wrote: »

Just a thought...

As NRAM mission is to close down the mortgage book as quickly as possible and recoup the Gov money back to HM Treasury at the lowest risk here is a thought...

Wouldn't it be great if NRAM would come to the table with customers and agree a settlement figure through negotiation that would allow NRAM to recoup say 80-90% of what is owed.
We the so called bad customers could then move away and nram achieves its mission albeit at a slightly reduced loss.

In effect customers could seek mortgages elsewhere if they were being offered a carrot. I for one would seriously consider negotiating if NRAM was prepared to deal...as it stands we will be partners for another 20 years otherwise, and that is something neither party wants

A few other lenders have actually done this over the past few years post credit crunch. I 'think' it was GMAC who offered to write off 10% if certain customers remortgaged elsewhere within a settimescale. Would be great, but don't hold your breath....

craaaigo

realdeal1011 wrote: »

Strange that...I have a loan of £17k and only had roughly £2730 returned back?

Its because you'll have been paying a different interest rate.

Hopelessly_Hopeful

money_honey wrote: »

It may be because our loan was originally part of our mortgage at about 4.98% (I think), but when we sold our house in 2011 we still had the loan as the sale price wasn't high enough to cover it. The loan was then changed to a higher interest rate of 9.79% (still the same term) and as we've been paying all the interest up front that's how much they worked out we were owed, approx £3400.

That's a good point and extra bonus for you. Great news

HHx

cot1198

craaaigo wrote: »

Its because you'll have been paying a different interest rate.

Good point, I was paying 7.3% for part of the non compliance period and NRAM's SVR from June 2012.

money_honey

Hopelessly_Hopeful wrote: »

That's a good point and extra bonus for you. Great news

HHx

Thanks and much needed (as you can see from my signature!)

lauraeast23

Redress: 4,332

Term reduced: 28 years and 5 months to 19 years and 5 months

Original amount: 24,500 unsecured over 35 years (together mortgage)

anthonymucker

Phoned up today and mine has been reduced by£4715.65 well happy but they didn't say if interest was on it. They did say that letters are being sent out today explaining everything . Best news I have had all year !!

shaney1981

I am awaiting a response re method of redress, shall be mighty miffed if they have gone ahead without acknowledging my complaint.....