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

Reason123

Just got our 3rd letter
We have just got back £3098 redress which is nice.
Short of what id hoped for but cant complain about free money!

lennonc1

Reason123 wrote: »

Just got our 3rd letter
We have just got back £3098 redress which is nice.
Short of what id hoped for but cant complain about free money!

I would call and check of there has statutory interest been added to this. Bet you they can't tell you and haven't done this!!

Reason123

Here is my letter if anyones interested.

Reason123

So the term has been reduced to counter the redress.

My brother got back over £4k!

omns

I have received a letter explaining that i will be having a refund of approx £2500 onto my account, does anyone know if i can get this back in the form of a cheque rather than a credit on my account? Thanks

Reason123

Hi Omns
Sorry mate no you cant.
The redress reduces term time ONLY.

ger_ryan22

Got the letter today, redress of £3033. Delighted with that, really needed it. I noticed too that its reduced the term time by 8 years!! 2034 instead of the initial date of Oct 2042. Well chuffed.

fergalator

@ Reason123 This is really cheeky, but would you mind putting up the Q&A's? I can't get to my copy for a couple of weeks and it would really help?!!?

Thanks

F

lennonc1

Reason123 wrote: »

Hi Omns
Sorry mate no you cant.
The redress reduces term time ONLY.

No it reduces your outstanding loan and term time!!
And you can contest method of redress, lawyer confirmed today we CAN ask for cheque it is our right, you will have to send a formal complaint to start the process, I have. All I can do now if wait!!

KC10

I received letter number three today as well, my loan has been redressed by £2287.70, which means I'm finally out of negative equity for the first time in 7 years. :j

Now, if only there was a market left to try and sell the place in… oh well, we can't win them all—I'll be sitting tight for now!