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Northern rock loan over £25,000
Comments
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Hope it hasn't been posted already, but here's a bit more info about what happened in court
http://blogs.lexisnexis.co.uk/fs/consumer-protection-statutory-wording-and-contractual-effect/
Someone brighter than me might be able to pick a bone or two out of it.
ITs a minefield but I like these 2 judges comments at the end.
She felt, however, that this text (since changed substantially since the first instance decision was handed down) was not altogether on NRAM’s side.
and
Longmore LJ intervened to comment that to any reasonable consumer or person, the words NRAM used in its documentation ‘would be of contractual effect’.
I could be reading into that an answer I like to hear, but especially the 2nd one tends to lean that this judge will extend cca to us over 25k ers and throw out the appeal.
However, who knows?0 -
Worriedindebt - Phone Nram, if they have sold on your debt you should have been advised, they'll send out a statement but I think you may have to pay as they'll claim it's a copy ! Then sit back, cross your fingers and hope, like the rest of us that the judges will decide in our favour.0
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Anyone jumped the gun and actually worked out what they woudl reasonably expect to get back on a 30K loan?Liam :money::beer:0
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I'd say closer to 8k, due to interest owed at 8% also.0
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What will the dates of non compliance be. I know the regulations changed in 2008 to include loans over 25k ao will the compensation be from the start of the loan up to 2008 when the regs changed. I took 30k out in 2006.0
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Been following this thread for a while and still unsure of the redress dates etc
What (if appeal goes the right way) would you expect the redress to be on £26k since April 2007.
Cheers for your time0 -
My understanding is interest paid from 2008 (not sure if it's January) plus 8% interest. I might be wrong but that is what I read ? Mega bucks !0
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I've just re-discovered this thread, I took out a together mortgage in May 2007 with the maximum £30k unsecured loan.
I came into some money and paid the unsecured loan off in a single payment in October 2011.
I then left NRAM completely in November 2014 when I re-mortgaged.
Will I get any redress?
Should I make contact with NRAM to remind them I used to have a together mortgage with them?0 -
Yes you will be entitled to redress, obviously for a shorter period. If the outcome goes our way write them a letter.0
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