Help! NRAM Mortgage problems

josiew

I have an interest-only mortgage with NRAM (formerly Northern Rock) following the insolvency of a company I worked for a few years ago. I have been making over-payments whenever I could over the past few years but NRAM haven't been crediting these to my mortgage account and won't recalculate the compound interest. Help! Does anyone else have problems with mortgage over-payments or with NRAM?

IainHL

There are a couple of rather large threads on here with quite a few people having problems with NRAM, but that is to do with their redress of interest for NRAM's statements not being compliant with the amendments introduced by CCA2006.

You say NRAM haven't been crediting your overpayments to your mortgage account. How have you been making those overpayments (for instance if by online banking have you ensured the correct reference number has been in place)? What have NRAM being doing with those overpayments? Have they now found them? Why won't they recalculate the compound interest? How have you been communicating with them up to now?

I would suggest you need to write and send recorded delivery a letter headed "Formal Complaint" stating your case. The address is on their website, something like Mortgage Operations with a Durham (DH) postcode. They then have 8 weeks to respond to your complaint, and if you don't like their response, or they don't respond within 8 weeks, you can take your complaint to the FOS.