Northern rock loan over £25,000

Bignosher13

I accept that CPR25 and in the cold light of day you are factually correct. I guess some of us built our hopes up too much and the judgement is still rather raw.

We are actually free of this wretched organisation and can only sympathise with those still trapped. Personally I still think this isn't over but for the sake of sanity I'm treating today as closure.

A Little fish in a very big and murky pond.

CPR25

Bignosher13 wrote: »

I accept that CPR25 and in the cold light of day you are factually correct. I guess some of us built our hopes up too much and the judgement is still rather raw.

We are actually free of this wretched organisation and can only sympathise with those still trapped. Personally I still think this isn't over but for the sake of sanity I'm treating today as closure.

A Little fish in a very big and murky pond.

I can't argue with that...thankfully my debt will be cleared within 12 months but I'm sure and ai appreciate that this decision is harder to accept for those that are generally struggling

Babamunky

My unsecured borrowing totalled £27k and over 9 years later and not a missed payment, I'm still in negative equity. All that said, I accept it, I borrowed the money and will pay it back. I even accept the increase in interest if I was to port the loan, it was all explained within the contract. What I don't accept is that words contained within a contract aren't legally binding. What rights does a consumer have now? Why even have a contract?
Plan B for me is to sell the house ASAP, my parents have offered me and my wife a spare room. There we can save to get rid of this bloody loan once and for all.

fermi

MSE_Paloma wrote: »

About 41,000 Northern Rock mortgage customers with unsecured loans of between £25,000 and £30,000 won't receive redress...

Read the full story:

Northern Rock borrowers dealt blow as court rules redress isn't due




Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

Is this representative?

The letter below shows Northern Rock incorrectly stating that loans of up to £30,000 were covered by the CCA.

the_little_people

CPR25 wrote: »

The court has said the misrepresentation was only 'administrative' ...therefore fraudulent misrepresentation isn't applicable I don't think

Surely it was only an administrative error for those with loans under 25k as well then?

CPR25

the_little_people wrote: »

Surely it was only an administrative error for those with loans under 25k as well then?

No because loans under £25k are regulated by CCA

the_little_people

Ahh thats ok. I'll just pay back what I like and blame it on admin error then.

CPR25

the_little_people wrote: »

Ahh thats ok. I'll just pay back what I like and blame it on admin error then.

Good luck!

Aberdeenangarse

I think the Judgement is correct and a Vote for common sense.

dodge1979

There was only ever going to be one winner as nram being government owned ,if this was not a bad bank it might of been a different story