Northern rock loan over £25,000

Bignosher13

Lippyx wrote: »

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!

After the good news today I originally took a cautious view of the ruling in light of a possible appeal. The signs beforehand and fact that they'd taken themselves smacked of confidence bordering on arrogance.

After having time to reflect I feel they won't appeal and if so it's pointless. They've had over 2 years to prepare and have obviously taken the FOS stance as a green light to proceed. What more can they add to the case? Talk now of appealing just smacks of petulance.

I've felt all along the paperwork is more flawed than the under £25k anomaly. Indeed it wouldn't have surprised me if the whole contract was deemed unenforceable with a total loan refund for all! Here's hoping!

I too was one of the 300 who took this to the FOS but have always felt with the right exposure something would come of it. That day seems a lot closer.

Bignosher13

peter3hg wrote: »

Not going to happen. Using that logic they would return all payments and cancel the loan and you would have to return the capital borrowed.
The best case scenario I imagine would be all interest on the loan is cancelled/refunded.

I was probably clutching at straws there peter3hg. I will say I'm quite surprised at the decision, the vibes beforehand were not filling me with hope.

I do feel there's a lot more to come out, particularly cases where NRAM have applied the CCA to people in the over 25k category. They are obviously aware they've done this which could result in further court rulings once it gets media attention.

I understand currently any redress would be interest plus fees.

Lippyx

Is that all Horton? I guess the problem is if you didn't know about it, then you wouldn't look for it.
I only found out because my ex told me it had been paid off and years later NR informed me the I had defaulted, and the rest is history.


I think NR have tried to keep it out of the media as the moment its released publicly then EVERYONE will start checking their agreements.


At the end of the day it shouldn't matter whether you complain or not, if you have been missold then you should be made aware of it.

Lippyx

Bignosher13 wrote: »

After the good news today I originally took a cautious view of the ruling in light of a possible appeal. The signs beforehand and fact that they'd taken themselves smacked of confidence bordering on arrogance.

After having time to reflect I feel they won't appeal and if so it's pointless. They've had over 2 years to prepare and have obviously taken the FOS stance as a green light to proceed. What more can they add to the case? Talk now of appealing just smacks of petulance.

I've felt all along the paperwork is more flawed than the under £25k anomaly. Indeed it wouldn't have surprised me if the whole contract was deemed unenforceable with a total loan refund for all! Here's hoping!

I too was one of the 300 who took this to the FOS but have always felt with the right exposure something would come of it. That day seems a lot closer.

I couldn't agree more!! I have fought NR for over 5 years about this loan, and have spent money of solicitors (who pretty much said I didn't have a case) I have lost money, faith, sleep and credit rating over this company, and I'm sure I'm not the only one!


We are all now one step closer to making this giant fall. It will be interesting if they do appeal, and I am still surprised they really thought they would win, considering they took themselves to court!?!


I am now waiting for my contact at NRAM to respond to my letter stating misrepresentation... be interesting to hear what he has to say now!!!

Lippyx

Bignosher13 wrote: »

I was probably clutching at straws there peter3hg. I will say I'm quite surprised at the decision, the vibes beforehand were not filling me with hope.

I do feel there's a lot more to come out, particularly cases where NRAM have applied the CCA to people in the over 25k category. They are obviously aware they've done this which could result in further court rulings once it gets media attention.

I understand currently any redress would be interest plus fees.

I know think I could have a case against them for taking me to court, putting a CCJ on me and an attachment of earnings.... I will add they done all this as according to them I wasn't paying enough each month to cover the monthly due. Turned out their system was actually wrong and I was paying £100 more than I needed to.


Now they are breach of contract, does that not mean they should have never been able to take me to court and rise a CCJ etc??

carlyberyl

I've just read that when we redeemed our together mortgage our outstanding loan interest rate was due to climb to 9% but in fact we were being charged 13%! Is anybody else aware of this? Found it on the BBC site

Lippyx

Carlyberyl... with this company's history, anything is possible!! Get your paperwork together that says you should be charged 9% and statements showing 13% and call them!!

Former_MSE_Andrea

Thanks so much for flagging up the news story link fermi, great stuff

NorthernRocknewbie, I've passed your post onto the News team. If they think it's needed someone will get in touch with you

carlyberyl

Lippyx wrote: »

Carlyberyl... with this company's history, anything is possible!! Get your paperwork together that says you should be charged 9% and statements showing 13% and call them!!

Perhaps others should do the same, this company should have been shut down altogether because they don't know their a*#ehole from their elbow:mad:

Lippyx

carlyberyl wrote: »

Perhaps others should do the same, this company should have been shut down altogether because they don't know their a*#ehole from their elbow:mad:

Couldn't agree more!! They have caused me so much stress. The latest c**k up was they screwed up my credit rating as they thought I should have been paying more than I was. Turned out their system was wrong and I should have been paying £100 less a month!!


Get your complaint in and registered!