Northern rock loan over £25,000

lennonc1

Have you called nram? Are you not due redress? Is it 25k you borrowed?
You should be due refund!
Send email to nram at customerrelations@n-ram.co.uk as it is instant and recorded.
You don't need to write much - add your details and account no. top of email in bold write Offical complaint, then without predudice underneath.
Tell them you should be entitled to redress and if they believe your loan wasnt covered can they send original docs as yours say covered by cca 1974.
Just make sure you get your point across. They will not uphold your complaint they will take a few weeks to get back to you in that time write your complaint to fos as you will have to send to them ASAP.

vinhquang

lennonc1 wrote: »

Have you called nram? Are you not due redress? Is it 25k you borrowed?
You should be due refund!
Send email to nram at [EMAIL="customerrelations@n-ram.co.uk"]customerrelations@n-ram.co.uk[/EMAIL] as it is instant and recorded.
You don't need to write much - add your details and account no. top of email in bold write Offical complaint, then without predudice underneath.
Tell them you should be entitled to redress and if they believe your loan wasnt covered can they send original docs as yours say covered by cca 1974.
Just make sure you get your point across. They will not uphold your complaint they will take a few weeks to get back to you in that time write your complaint to fos as you will have to send to them ASAP.

pls inform the limit of amount

lennonc1

Sorry, my loan amount? Or limit of unsecured loans covered?

C

gb12345

lennonc1 wrote: »

Sorry, my loan amount? Or limit of unsecured loans covered?

C

Ignore them - they are just a spammer looking to up their post count.

lennonc1

I see, why oh why???

IainHL

Panda666uk wrote: »

(Unsecured loan taken out on the 9th Nov 2006 for £25,000 over 10 years.)

Is this a standalone unsecured loan with a 16 digit account number? If so it is not affected by the redress issue, and you have no complaint.

However, if it is part of a Together Mortgage, then do as lennonc1 says.

lennonc1

Yes sorry I should have mentioned that, check you account number and see if is 16 digits. I wonder even if 16 digit account are managed in the same way and protected by cca and have made the same errors I don't see why you would have no claim!!

mancpickup

Today I received my annual statement from NRAM and as expected the statement was split into 2. One for the secured amount and one for the unsecured amount. Unbelievable that across the top of the unsecured amount statement in big bold writing "FIXED SUM LOAN REGULATED BY CCA".
This is 2 months after I have received their final response to say it WAS NOT regulated by the CCA.
I called the FOS to see if they required a copy of this, the adjudicator Ian Hobbs advised that he did not see this having a bearing on the case but will add comments to the file and request if needed.
He did also reiterate that the complaints are still on hold waiting for senior people to review and it to be weeks rather than months.

IainHL

lennonc1 wrote: »

Yes sorry I should have mentioned that, check you account number and see if is 16 digits. I wonder even if 16 digit account are managed in the same way and protected by cca and have made the same errors I don't see why you would have no claim!!

The 16 digit account numbers were from a separate section of Northern Rock dealing solely with unsecured loans (and seemingly based in Rotherham, at least for correspondence). They too became part of "bad bank", that is NRAM. However all their documentation was in order (at least all that I have seen of it!). Also, £25k was the most you could borrow unsecured from this part of the organisation, so the over £25k issue doesn't arise either.

Evenfields

Interesting, been looking through NRAM's Annual Results, has anyone else spotted this (or you all not as sad as me)


40. Contingent liabilities
The Consumer Credit Act ('CCA') regulates certain classes of mortgages and loans, including the unsecured element of the Together mortgage product. As detailed in note 29, the Group has not complied with the requirements of the CCA in respect of some documentation provided to certain customers with CCA-regulated loans and has, therefore, made a provision for the Group's best estimate of the cost of providing remediation to those customers. The Directors believe that the loans covered by this provision are the only loans which are entitled to remediation under the provisions of the CCA. If any customers were to make a claim against the Group in respect of other loans, the Group would incur costs in defending its position, and should any such claim result in proceedings which are pursued through the courts and which succeed, the Group could be liable for remediation to those claimant customers and potentially other customers with the same circumstances. No claims have been received from any customers in respect of loans which are not CCA-regulated and no provision has been made.

So here is their recognition that despite their continual brush offs, they just might have a big problem! Also 'best estimate' so the 270 million was an estimate, I reckon it's going to be a lot more. Someone needs to buy NRAM a calculator, a calendar and a copy of the Consumer Credit Act!