Northern rock loan over £25,000

carlyberyl

If this is a case of mis-selling does that imply that NR will have to put us in the position we were in prior to taking the loan out? As in with the mis-selling of the ppi cases, they have to give the 8% on top to compensate?
Weve just worked out how much we have repaid from the £30k we took with the together mortgage in dec 05, we have already paid over that back to them and there's still another 28 years left!

claret_mike

Has anyone had any success in getting a solicitor to look at this?

dodge1979

I had an email yesterday in reply to my complaint to nram saying they are still investigating and we will receive a letter within eight weeks.

aarjay777

Northern Rock have already been to court on this issue of whether the loans are regulated or unregulated.

The judge found the agreements to be regulated as they were signed on regulated paperwork.

http://www.consumeractiongroup.co.uk/forum/showthread.php?178390-Credit-Agreements-over-25k-Pre-April-2008

There is a lot of useful info at this site which may well open up an even bigger can of worms.

Fizzy_Fish

aarjay777 wrote: »

Northern Rock have already been to court on this issue of whether the loans are regulated or unregulated.

The judge found the agreements to be regulated as they were signed on regulated paperwork.

http://www.consumeractiongroup.co.uk/forum/showthread.php?178390-Credit-Agreements-over-25k-Pre-April-2008

There is a lot of useful info at this site which may well open up an even bigger can of worms.

I've looked at the info on that (and related threads) in detail, and I'm not sure it's quite as straightforward as this ruling meaning that our loans will be considered to be CCA regulated for the purpose of this current issue.

If you look at the conclusions drawn by toto003 following extensive research into the topic, it seems to be a bit of a legal grey area. However you're right that there does seem to be some hope for us!

Barny1979

Has anyone else still not received a letter? Cleared my loan last year, but thought I would have still received a letter.

neas

Must admit for 99.99% of people 'complaining' this will simply be a case of jumping on the bandwagon of the <25k compo.

I saw someones letter saying "I only took out your loan as it was protected by CCA".

I know its for a claim but what codswallop most people only took out a loan because they wanted to get on the housing ladder with no deposit and overborrow to do a place up the "I want it now" crowd.

Its funny when claims r us starts. Not saying I wouldn't do it but some of the peeps on this site must honestly believe what they saying or something :P

Chrisb80

I have not had any response to my complaint (sent 18/12) and its been over 5 working days (ok only just!!). Has anyone else with a £25k+ loan had any kind of letter or response from NRAM?

I am expecting both a complaint response and also a more generic letter informing me that they got the CCA regulated loan/paperwork wrong and how they are going to put it right...

claret_mike

I have had the 5 working day holding letter.

shellyk6666

I sent a complaint by email on the 19th but haven't received any response yet. I'm putting it down to the Christmas break.