NRAM refunding again on loans under £25000

PAUL67

Hi,

I received a letter yesterday from NRAM stating that although they had refunded me previously on my unsecured loan under £25000 they are now sending me a further refund because they have now discovered that the mistakes actually went back further than first thought. There is a link on there website about this so I was just wondering if others had received same letter.

They have advised that I will receive amended statements within 30 Days with full details of refund.

https://www.n-ram.co.uk/loans/cca-loans

tsugi

I had the same letter - with an added bonus letter... Letter 1 says they have overcharged me, and have knocked £940 off the unsecured part of the Together Loan. Letter 2 says I have underpaid the unsecured part of my Together Loan, and they want £153.15. 1) I have never missed a payment. 2) !!!!!!?

marksta

tsugi wrote: »

I had the same letter - with an added bonus letter... Letter 1 says they have overcharged me, and have knocked £940 off the unsecured part of the Together Loan. Letter 2 says I have underpaid the unsecured part of my Together Loan, and they want £153.15. 1) I have never missed a payment. 2) !!!!!!?

We received the same letters - the first saying we've had about £2000 knocked off the unsecured bit of the mortgage and a second saying we owe them £160 odd quid. I called them up and they explained. If you look at the second page, check the date of the letter. Ours was dated 2009. It is simply the page that they should have sent out back then (hence the error and the refund) The letter is a bit vague but the guy explained that they'd received loads of calls about it.

In short, don't worry, it's all sorted

MikeMouse

Hi,

I have received the same two letters today and also received one a couple of years ago saying that I had about £2k knocked off my unsecured loan.

Whats strange about these letters are.

I also have a 2008 date on the letter saying they are issuing a default as I owe them £136 and have not paid it despite their reminders. So I assume I can ignore this one.

However the one saying I am to receive a further redress of £740 is dated November 2014 and in the letter constantly says November 2014 on several occasions.

Finally I have a third letter which gives me the past 5 years of statements for my CCA loan. I have checked it three times and can not see the £2k redress they said they had applied to it 2 years ago.

Very confused!!!

Is there more redress or is it all nonsense? And has anyone else checked to see that the redress for a couple of years ago was applied and found it is not there?

I guess this means a long call with them tomorrow and I hate speaking to them as they are not a very nice company to deal with and get a straight answer from.

dinododger

Hi
I took out a secured £20k loan in Dec 06 yet nram say I'm not affected by the error..do I have to just take their word for it, as we obviously dont have any documents going back so far?
Any advice appreciated
thanks

mcowan77

I took out a together mortgage in Oct 2005. £55 k mortgage and £10k unsecured loan. I thereafter took out 2 further secured loan in £ 3.5K in June 2006 & £4k in March 2007.

Last year i received £ 2324 redress on the £10k unsecured loan for the period of non-compliance covering 01/10/2009 - 28/02/2013

I have since queried the other 2 loans and received the following reply

Having reviewed your query, I confirm our records have shown the purpose of your loan(s)were for home improvements.

As loans for home improvements are specifically exempt from CCA regulations, you are not entitled to the refund of any interest as a consequence of having received non-compliant documentation.


is this correct?

mcowan77

Anyone...........?

MikeMouse

mcowan77 wrote: »

Anyone...........?

I wrote to them 6 weeks ago about this. They wrote back after 4 weeks saying they needed more time .........

I still don't get it and the fact that they are unwilling or unable to put the redress figures from both the past and now in the statement really confuses things. They say that you have to use the letters in conjunction with your statement to work it out - utter nonsense.

duck_egg_2

Having reviewed your query, I confirm our records have shown the purpose of your loan(s)were for home improvements.

As loans for home improvements are specifically exempt from CCA regulations, you are not entitled to the refund of any interest as a consequence of having received non-compliant documentation.


is this correct?

I can't find anything in the reg's about this can anyone else?

mcowan77

Just received copies of my loan paperwork and there is no mention of the mains being for home improvements??

croyland87

Hi have read on hear that many people have had money refunded to them already. I took out a mortgage with Northern Rock in 2006 £172000 was a mortgage and £8000 unsecured loan come together mortgage. Phoned NRAM today to make a inquiry about whats happening and was told that we are still looking into it. Which I fined very strange because some people have been paid already. Thank you