Nationwide "We're returning some of the interest charged..."

sazkaz79

Apologies if this has been discussed elsewhere (I've had a look and can't find any threads), but I received a letter a few months ago from Nationwide to say they're "returning some of the interest charged on the Personal Loan hold with [them]". But according to the letter, they're going to get back in touch about the outcome before the end of the year (?!).


I currently have a DMP and I've paid back half the £7,500 that I've borrowed from them. Although in the early days of my DMP the monthly repayments have always been reduced, I have never missed a payment to Nationwide. Despite my financial difficulties, my honesty to them and my willingness to pay, they have always continued to charge interest on my debt (as have Halifax, but they're a different story altogether!!).


I'm just wondering if anyone else has received this letter, what does it mean in terms of "the interest they're returning to me" and does anyone know anything about what is happening / has happened.


If this has been answered elsewhere, please feel free to point me in the right direction.


Thanks for your help

[Deleted User]

Possibly the ongoing annual statement issues that have impacted a number of lenders. It's resulted in an inability to charge interest for the duration of the issue, hence a refund of interest paid.

You don't need to take any action.