Northern rock loan over £25,000

e.scrooge

I first complained at the start of 2003 and had my claim rejected by NRAM and then the FOS. It now looks (at least on the face of it) that NRAM have been proven wrong and we have been proven right! At least that's what the judgement looks like to me.

e.scrooge

Macroeconomic News

Ex-Northern Rock customers could get windfall after test case ruling
Wed, 10th Dec 2014 11:46

LONDON, Dec 10 (Reuters) - More than 40,000 British borrowers are in line to get thousands of pounds in compensation after London's High Court ruled against former bank Northern Rock in a test case over how past loan documents were phrased.

The High Court judgment said the ruling could cost Northern Rock Asset Management about 258 million pounds ($405 million) in compensation to 41,000 customers.

NRAM is the former "bad bank" of Northern Rock that was nationalised in 2008 and is now part of UK Asset Resolution (UKAR), a state-run 'zombie bank' that does not take on new business.

NRAM brought the case against itself to get legal clarification over whether documents issued to customers under previous "Together" mortgages were incorrect. NRAM is considering whether to appeal the ruling, however, people familiar with the matter said. ($1 = 0.6377 pounds) (Reporting by Steve Slater and Matt Scuffham)

Lippyx

Looking good!!


My only concern is this loan was with an ex, who still lives in the house. I don't speak to him. I have done all the hard work, been taken to court and been paying this debt off (have statements to prove he hasn't paid anything in the last 4 years at least). How do I know he isn't going to get a nice hefty cheque land on his door mat and I end up with nothing (if that indeed happens!)

mattmc77

Hoping for good news here.

We have been trapped in a together mortgage now for 8 years with an unsecured £30,000 loan.
We have an aggressive plan which will finally let us pay off the unsecured part and move the mortgage 'safely' away from NRAM - but that's going to take another 2.5 years.

We've never taken NRAM to court though.
Would this ruling only apply to those who have complained?

Lippyx

No, it will be for all who have a loan over 25k.

NorthernRockNewbie

ITN NEWS COVERAGE: Together Mortgage Borrower Required for TV Appearance today.

Hi all, for those following this thread you'll know I've been quite active and spent a lot of time trying to get some light on this issue.

My contact at ITV has asked whether I would go on TV to answer a few questions on this and I unfortunately have to decline because I am currently unwell.

Is there anyone on here that would be prepared to go on TV an answer some questions on this?

Lippyx

I can't now as I am at work.

NorthernRockNewbie

Thanks Lippx

fermi

http://news.sky.com/story/1389393/thousands-to-get-northern-rock-refunds

Lippyx

I know its still early days, as they could appeal, but finally I can see a light at the end of this very long and dark tunnel!