Northern rock loan over £25,000

worriedindebt

Sorry to be a pain, but can someone clarify if I need to do anything?
I took out a Northern Rock together mortgage in Feb 2007. 98k & 26k unsecured element.

I sold my flat in 2013 but now a, paying off the unsecured bit at the higher interest rate.. Have not had any correspondence from NrAM since I sold.

Do I have to file a claim at all like I did with PPI, and if so how do I do this please?

Lippyx

Hi, just contact NRAM and ask them to confirm if your contract is regulated by CCA and get them to register your complaint. Its not regulated if its over £25k, but at least they'll know you have raised a complaint. Then its a case of waiting like most of us for the minute.

worriedindebt

Lippyx wrote: »

Hi, just contact NRAM and ask them to confirm if your contract is regulated by CCA and get them to register your complaint. Its not regulated if its over £25k, but at least they'll know you have raised a complaint. Then its a case of waiting like most of us for the minute.

Thank you Lippyx I'll let them know

NorthernRockVictim

Does anyone have paperwork for an INTERST ONLY secured loan taken out around 2005. I took out a 40k secured loan with them but can't find the agreement to see if it stated regulated by CCA etc. I've asked them for a copy, but been ignored!

Lippyx

NorthernRockVictim wrote: »

Does anyone have paperwork for an INTERST ONLY secured loan taken out around 2005. I took out a 40k secured loan with them but can't find the agreement to see if it stated regulated by CCA etc. I've asked them for a copy, but been ignored!

Keep hassling for a copy. Not sure if the secured loans were covered by CCA or not. If you keep asking for a copy of your agreement, then at least you can show you have been asking and being ignored.

Bigjazzy

NorthernRockVictim wrote: »

Does anyone have paperwork for an INTERST ONLY secured loan taken out around 2005. I took out a 40k secured loan with them but can't find the agreement to see if it stated regulated by CCA etc. I've asked them for a copy, but been ignored!

I have two secured personal loans and when I made a SAR's request that was not in the paperwork they sent me. I cannot remember if they got me to sign forms when this was taken out or not.

I did the switch to the together mortgage over the phone with Northern Rock (non advisory). Looking at the paperwork I initially had a conventional mortagage, and after doing up my property in 2 phases based on market valuations NR provided two secured loans. This then got swapped over into the together motgage.

I cannot recall signing anything (maybe I did and dont remember) but it is very strange that a SAR's request would not consist of agreements for these secured loans.

IainHL

PAUL67 wrote: »

The quote you have seen on the website is in relation to the loans under £25000 which redress have already been paid out on. Apparently the errors went back further than first thought so they are again paying redress. I was refunded in the first redress and last week received further redress.

Paul, I would be most interested if you felt you were able to provide a few more details on this.

• What was the revised period of non-compliance?
• What were the errors?
• How much redress did you get second time around compared to first (if you don't wish to give exact figure could you express it as a proportion)?
• Did they do this redress as before, refunding the interest to the account, leaving the monthly payment the same, and reducing the term?

NorthernRockVictim

Does anyone have an email address for the lovely people in NRAM. I can only find a contact form on their website, and I need to have evidence of requesting paperwork.

gwc1980

We took out a together mortgage for £140k and loan for £30k in 2007, we kept up to date with our payments on these but fell into financial difficulties and entered into an iva in jan 2014, Just wondering if anyone else is in the same situation as us, trying to get an idea what may happen to any refund from nram?

carlyberyl

gwc1980 wrote: »

We took out a together mortgage for £140k and loan for £30k in 2007, we kept up to date with our payments on these but fell into financial difficulties and entered into an iva in jan 2014, Just wondering if anyone else is in the same situation as us, trying to get an idea what may happen to any refund from nram?

We're in a sort of similar position...
We took out around £135k plus £30k together mortgage in 2005. In 2008 they rang to say our interest rate was ending and would become much higher. Payments were going from £900 to £1200 per month. We asked if we could remortgage on a better rate but they said they weren't allowing people to remortgage any more. Long story short, we had to sell our lovely home and move, then recession hit and turned out we would have been paying about £2-300 less a month. Devastated doesn't cover it
We then in 2009 fell into financial hardship and asked if they would either let us pay off the balance or interest only just until we got on our feet but they flatly refused. Ended up in an iva and marks on our credit files from northern rock.
After several months we came off the iva because we felt like we weren't getting anywhere, but it annoys me that it was only northern rock that put marks on our files, and it was only them that refused to help us out.
When we sold our property the original combined mortgage and loan was £900. Then it went onto a much higher rate and the loan payments were around £350-400 per month alone. Then they had the cheek to write to us saying they had made a mistake with the redemption figure and we owed another £1000 which we had to also pay back monthly! They're a bloody joke and should have been shut down years ago.
I'm not entirely sure what will happen but if this whole loan was never worth the paper it was written on we will be seeking advice regarding the mess they left on our credit file!
I also read somewhere that they were advised years ago to stop selling the together mortgages but continued anyway...!