Old Northern Rock Mistake - owned up to...

akki007

Ok, 8 years ago when I re-mortgaged, Northern Rock made a mistake with the redemption figure and told me a few months later that I owed them 2 grand. Because this was their error I said I would pay them a tenner a month. Which I've been doing for 8 years (ha ha)

Over the years, NRAM have been trying to get me to complete a "finance review" and I kept saying NO. So, fast forward to 2015 and again, a few weeks ago NRAM tried again to get me to complete a finance review and I told them this was their fault etc - they logged my complaint formally (which is odd after 8 years) and they sent me a letter saying my complaint is being upheld and they will give me £100 and let me pay £10 a month if I agree to accept the outcome of the complaint review and the £10 a month agreement

What I want to know is- if I have no formal repayment arrangement in place with NRAM - which I don't. Do I actually need to pay them anything at all?!?! I suspect that I don't actually need to pay anything and this is them trying to get me tied into a formal repayment agreement with the £100 as a carrot on the stick.

Help??

ACG

You owe them the money, companies are allowed to make mistakes. Providing they put it right to a point you are no worse off had the mistake not happened that is their only requirement.

Technically you have had £2k (decreasing) on an interest only loan for 8 years...does that sound like you are in a worse/same/better position than you would be had the mistake not happened?

I think you should be counting yourself lucky. Try and push it and you may find you end up worse off than you currently are.

amnblog

Have you checked if this issue is manifesting itself on your credit file?

akki007

akki007 wrote: »

Ok, 8 years ago when I re-mortgaged, Northern Rock made a mistake with the redemption figure and told me a few months later that I owed them 2 grand. Because this was their error I said I would pay them a tenner a month. Which I've been doing for 8 years (ha ha)

Over the years, NRAM have been trying to get me to complete a "finance review" and I kept saying NO. So, fast forward to 2015 and again, a few weeks ago NRAM tried again to get me to complete a finance review and I told them this was their fault etc - they logged my complaint formally (which is odd after 8 years) and they sent me a letter saying my complaint is being upheld and they will give me £100 and let me pay £10 a month if I agree to accept the outcome of the complaint review and the £10 a month agreement

What I want to know is- if I have no formal repayment arrangement in place with NRAM - which I don't. Do I actually need to pay them anything at all?!?! I suspect that I don't actually need to pay anything and this is them trying to get me tied into a formal repayment agreement with the £100 as a carrot on the stick.

Help??

amnblog wrote: »

Have you checked if this issue is manifesting itself on your credit file?

How do I check that?

Thrugelmir

How much do you now owe?

akki007

Thrugelmir wrote: »

How much do you now owe?

A grand-ish