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

emma-mark

We have just had our letter through and have been repaid £6,141 which is thankfully around the amount that we had calculated. Nice end to a rubbish Monday!

lennonc1

How much were your unsecured loan people?
I have still to see what I am due, guessing next batch will be done over next few weeks!

Firewire22

@ Reason123 yours is very similar to mine.. My new term is 2033.
Does this mean the whole mortgage secured and unsecured will end. Because mine means 9 years difference? I maybe being thick but can somebody explain. Or is this js the unsecured element?
I got 2794.7 redress leaving me 14035.61
From 17400 ish
I had 29 years left in April.. It now states 2033 leaving only 20 years. Thanks for any help in advance. I'm not the brightest

Keith

The secured part remains as it was, the unsecured now has a shorter term.

ukblondie1

I contacted NRAM to ask if the credit could be sent as a cheque, they advised they have taken legal advise on the issue and believe that the proposed method of remediation is the most appropriate, and any credit will be sent back to the account.

If this was something that was never agreed to how can they not give you the option of how you gain any funds back?

Do you think this is something that can be questioned further?

Firewire22

thanks still its better than jack nish. Would of took me several years of hardwork to reduce my term by that much... Thanks nram for c*****g up once again... I probably made the biggest !!!! up though... Even entertaining northern rock in the first place.. Was only 20 years old tho..

roast

emma-mark wrote: »

We have just had our letter through and have been repaid £6,141 which is thankfully around the amount that we had calculated. Nice end to a rubbish Monday!

Can I ask how much your original loan value and length was?

BarryRodick

I have a query about my loan dates.

My loan should have started in XX/01/2007 however letter states the period of non compliance is between 01/10/2009 to 28/02/2013

shredder91

the period of non compliance actually started on the 1/10/2008 but they get a year to do whatever they need to do, so the start date for us is the 1/10/2009.

doesn't matter when the loan started.

lennonc1

ukblondie1 wrote: »

I contacted NRAM to ask if the credit could be sent as a cheque, they advised they have taken legal advise on the issue and believe that the proposed method of remediation is the most appropriate, and any credit will be sent back to the account.

If this was something that was never agreed to how can they not give you the option of how you gain any funds back?

Do you think this is something that can be questioned further?

Hiya, I've Pm'd you back. You are certainly not alone here, I have had reply as you can see in previous posts. That wasnt taken as a complaint but a query!!! So will have to advise them that was in fact starting complaints procedure. Or I will use their letter as final response and hand it over to financial ombudsman straight away. But I really do believe after extensive research they have to give us the option.