Northern rock loan over £25,000

tonyh66

I see the government have sold our mortgages off making a profit. WoooHoo, looks like slightly good new in that they are predicting that if you get picked up by TSB the SVR might drop to 2.5% if you are an existing TSB customer. Might be worth opening a TSB account now to try and get this SVR in March when the sale is happening.

nickyc1

Some of you may have seen this from the BBC website yesterday -

http://www.bbc.co.uk/news/business-34806370

I read the story via the BBC app on my phone which has the following written at the end of it (strangely this is omitted from the main site though) -

"Do you have a former Northern Rock mortgage? Let us know about your experiences. Email haveyoursay@bbc.co.uk with your stories".

Says to include a contact number if you are willing to speak to a BBC journalist.

I shall be getting in touch and hope others also do so.

fermi

There are people in the legal professions still looking a some angles of this as well

https://twitter.com/Pt2537/status/669209047451725825

barnoath

I phoned NRAM to notify them of our change of address, found out at they have on their system that we borrowed the full £30k of the unsecured loan when in fact we borrowed £26k and have all the original statements showing this. Not only now are we questioning the fall out of the "is it regulated or isn't", but we have to show they are wrong on the amount originally borrowed. What a shambles this company is. We have paid in total £24.5k upto now, what judge in their right mind would uphold any case against us if we were taken to court over non payment and laid out all the original paperwork in front of them. We have nearly paid back what we originally borrowed and haven't done anyone out of any money we owed.

tonyh66

barnoath wrote: »

I phoned NRAM to notify them of our change of address, found out at they have on their system that we borrowed the full £30k of the unsecured loan when in fact we borrowed £26k and have all the original statements showing this. Not only now are we questioning the fall out of the "is it regulated or isn't", but we have to show they are wrong on the amount originally borrowed. What a shambles this company is. We have paid in total £24.5k upto now, what judge in their right mind would uphold any case against us if we were taken to court over non payment and laid out all the original paperwork in front of them. We have nearly paid back what we originally borrowed and haven't done anyone out of any money we owed.

You may have nearly paid back what you have borrowed, but you have not included any interest in your thinking.

Proving what you borrowed should be easy enough from looking at the financial transactions which took place at the time you took the loan, if you took 26K and 26K went into your bank then there is your proof.

Stopping payment on the loan is totally the wrong thing to do and could put you into allsorts of trouble; wrecked credit, CCJs, baliffs etc.

barnoath

You obviously aren't affected by this product as you point out the bleeding obvious in your post and NRAM don't deal in the bleeding obvious, you'd know this if you had tried to deal with them. Just frustration in my last post, I'm a bloke who's trying to sort this out. Please dont send anymore condescending tripe my way. Cheers!

downhiller

Did anyone get a letter from them saying their mortgage and/ or loan payment amount is changing?

I got one on Friday telling me my payments are going down, but they can't tell me why it's going down. It reeks of me being overcharged historically :question:

Lippyx

Very interesting Barnoath!! NRAM have no idea what they are doing half the time, and it wouldn't surprise if the info they have is wrong regarding your account!


They took me to court as the full monthly amount wasn't being paid (long story - ex said debt was paid and it wasn't and then stopped paying the instalments) the judge ruled as per an attachment of earnings, I pay them £200 a month. This (according to them) still wasn't enough to cover the "expected" monthly instalment. I didn't pay any more, and kept fighting them etc... then one day, out of the blue, they informed me that their system was wrong, and in actually fact I only had to pay them £90 a month!!!! So not only did they wreck my credit history, make me pay more than needed, and drag me through court (not to mention the stress caused) it was all for nothing!!


Needless to say, I still have to pay them the £200 a month, due to the AOE, unless I appeal against it, and go back to court!


Biggest idiots on this planet.....

Lippyx

downhiller wrote: »

Did anyone get a letter from them saying their mortgage and/ or loan payment amount is changing?

I got one on Friday telling me my payments are going down, but they can't tell me why it's going down. It reeks of me being overcharged historically :question:

Nope... very interesting. Have you actually asked them why?

barnoath

LippyX - I will post on here how we go with this. I have a feeling they have no idea what we should be paying, we have overpaid for past 18 month just trying to get shut of this thing and when we ask what this does to the term of the loan we never get a straight answer.

I still don't understand the difference between us over the £25k and those below it. Same product, same setup just borrowed a bit less.