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

natalie_1982

krisdorey wrote: »

Agreed. The tax payer is paying for this anyway

And presumably those of us who may, or may not, be entitled to reclaim money which a governing body feels is ours are also UK tax payers.

It niggles me that people keep grumbling in reference to ppi reclaims and the like that it's the tax payers that foot the bill as though we go dancing off to the bank without a second glance. I'm a flipping tax payer and it's my flipping money!:mad:

doog442

So people are getting interest refunded for an error on a statement? What if you never received statements?

I took out a 10 year unsecured loan for £15,000 from them in 2005. I didnt get an annual statement at all or any sort of statement until 2010 when they were taken over by NRAM. I have copies of the correspondence in 2009 when I complained about this and all they did was supply me with a copy of the original agreement. As it stands I have a 16 digit account number, so seemingly dont qualify.

Bluehorizon_2

MSE article states:

"Only those with unsecured personal loans of less than £25,000 got the dodgy paperwork."

NRAM website states:

"If you took out a personal loan that is secured against your property, this type of loan is potentially CCA regulated so you could be affected by this issue. "

Some clarification of the MSE article please?

Hevs81

I take no one has received a letter yet ??? I have one of these together mortgages from back in 2006 and had a £17 000 unsecured loan attached to it ! I'm hoping I could be getting something back as I'm stuck in this mortgage ! If I remortgage the the additional unsecured loan rate rockets upto something like 14%apr from the 5.9 original rate! Anybody else in the same boat ????

bigbadwolf500

bigbadwolf500 wrote: »

I have a £30k loan as part of their Together mortgage. Just checked my documents and it clearly states on the document that its subject to the CCA 1974, even though pre 2008 there was a £25K threshold!
All my NRAM statements don't show the original loan sum borrowed.
Could get interesting!!

Just spoke to NRAM - they are looking in to ALL accounts - even those with loans over the £25K threshold...

JonnyPrimal

I must admit that it always makes me laugh when people moan that it's the "tax payer paying for this"....Does this mean I should expect a knock on the door with a guy holding a collection bucket? "Hello sir, as you are a tax payer, please provide your contribution to the NRAM unsecured loan fiasco...£9 please"...

Perhaps I'm missing something, but they aren't increasing my tax to pay for this. I pay my tax....then it's then down to the government to spend it on whatever they see fit. Paying money towards the NRAM issues will only be moving money from one pot to another and has no direct impact on me and the tax I continue to pay (in real terms).

Or have I missed something?

Refund_me

bigbadwolf500 wrote: »

Just spoke to NRAM - they are looking in to ALL accounts - even those with loans over the £25K threshold...

There seems to be some confusion here with NRAM.

I spoke to them earlier and they indicated that loans over 25k were not included as they were not subject to the same guidelines as those under 25k, no matter what it says on your paperwork about it being CCA regulated or not - the amount seems to be the key factor here for the regulation.

kelr101

bigbadwolf500 wrote: »

Just spoke to NRAM - they are looking in to ALL accounts - even those with loans over the £25K threshold...

Excellent news! As I have a Together Mortgage and my unsecured part is £30k.......

Wonder if I will get a letter

kelr101

Refund_me wrote: »

There seems to be some confusion here with NRAM.

I spoke to them earlier and they indicated that loans over 25k were not included as they were not subject to the same guidelines as those under 25k, no matter what it says on your paperwork about it being CCA regulated or not - the amount seems to be the key factor here for the regulation.

Hmmmm.....I think I may wait 7 days for a letter, then if nothing contact NRAM direct and see.

Perhaps it is a case by case business depending on the structure of the loan and it's association with the Mortgage

lennonc1

Well I have Together mortgage with NR -2007 - present

Borrowed 120% in order to buy first house, no legal advice as was young and didnt know any better.

House bought £72750 2007
House valued at 65k 2007
House valued at 65k 2012 - I have spent more than 7k on the house as was in need of extensive work.

£58k mortgage
£18k unsecured loan as part of mortgage
£3k secured loan.
total owed = £77k odd

Duped us into taking Cover Me insurance and life assurance with Legal and general. Something I am looking into now for misselling.

Im guessing we will get a letter regarding the unsecured loan of 18k and secured one of £3k

I am now on a witch hunt for everything to do with this mortgage....

I have asked if there was ppi on our mortgage or loans and they said to contact cardiff pinical but they dont have details even though our docs say ppi ect on both...so help is needed as what to do next...thanks