Northern rock loan over £25,000

saveupthesmiles · 18 January 2014 at 8:22PM

NorthernRockNewbie wrote: »

Hey Smiles, Can you please please please type in word for word what their response was? I think we all know we're not getting our cases looked at on an individual level and to help any future case, showing a court we all got generic letters back would play in our favour. Also for those of us who still have our cases to be looked tabu the FOS it may open up a new line of attack / different approach which if successful would mean you could still get compensation of some kind.

Thanks in advance if you can do this.

It's quite a long letter so I wouldn't be able to type it out I'm afraid (sorry!), however what i did discover is that they need to publish all responses so you will find it on the FOS website. I found ones going back to July for the same thing. What i also found is that, although the ombudsman did acknowledge a couple of our points that were absolutely individual to us, the majority of the letter was identical to the others.

HTH!

saveupthesmiles · 18 January 2014 at 8:23PM

Sorry if you already know this about the FOS, I didn't realise they published these!

tinystar2001 · 3 February 2014 at 11:44AM

We have just received our response from the ombudsman saying our complaint will not be upheld. A few specific points have been addressed, but they are all based on assumptions on whether we would have taken out the loan had we been properly informed (they imagine we would, but I can't say either way as we were never given the chance to make a fully informed decision!), which makes me so so angry!!! We will of course be rejecting this decision, but as for where we go from here, I have no idea! We certainly can't afford a court case against a massive corporation, but clearly this is what they are banking on! It's a total conspiracy as far as I'm concerned but one day I believe we will get justice! I just don't know how!

carlyberyl · 20 February 2014 at 5:28PM

Hi all...has anyone had any joy yet? Ours was thrown out the window by the ombudsman which is really frustrating! What can we do?
My other half tried to make an appointment with our local mp Gloria de piero but they never even bothered to contact us!

1972Lou · 21 February 2014 at 11:06AM

So I have been following this thread since it began and even though I redeemed my mortgage and sub loan back in Oct 2013 [over 25000]. Today, I received a cheque in the post from NRAM with a very brief explanation/reason - 'it appears we made an administrative error when your account was originally set up'. I called to clarify, they said that it would take 40mins to explain over the phone so someone will be writing to explain in detail within the next 10 days. I pressed for more info, they said the error was to do with incorrect charges of interest on sub loan. They found this out after doing a review [a review, on a redeemed mortgage - really?].
The thing is, they have sent a cheque for 14.37 to 'rectify the error. Included in this amount is 0.36 representing 8% simple interest on the amount charged in error.'
I am a little suspicious about this so will wait for the detailed explanation before accepting the cheque.....and try not to get too excited about such a huge windfall.
My reason for posting here is, could NRAM be getting themselves out of the initial CCA paperwork error with this cheque and letter, is it normal for redeemed mortgages to go through a review and if they have admitted to a mistake, can they skirt over it in such a mild manner?
Or should I bank the 14.37 and think about my next holiday destination?
Lou

NorthernRockVictim · 4 March 2014 at 11:43PM

Or should an organised protest be planned outside/near to Downing Street?

downhiller · 5 March 2014 at 4:02PM

I'd say it's dead. If it was winnable I suspect the mis-sold mortgage/ loan lawyers would have been jumping all over it.

Lippyx · 7 March 2014 at 2:03PM

I say don't give up on this!! They are trying to drag it out on the hope we will all give up and go away!!

Call them up and ask for a copy of your agreement (which will no doubt state at the top it is covered by the CCA), and also their credit license number... technically, if they have loaned out more than they are regulated for, then they have breached their credit license and could be forced to pay back all customers and be fined by FCA!!

I have made a complaint to NRAM about this regulation, and waiting for an answer to my simple question... is it regulated? They have a "team" looking into it, and I wait further info... the fact they cannot give me a straight yes or no, speaks volumes to me!!

Keep asking them people, and keep badgering them!!

My MP was rubbish, told me to "embrace the loan and pay it off!!"

We need to stick together and keep at them, when this goes bang, it will go bang in a big way I think!!!!

IainHL · 7 March 2014 at 5:51PM

Interesting points Lippy. I certainly have never had my "revised paperwork" that they did initially promise on their website for those of us with over £25k loans.