Northern Rock - no record of me

Kipnae

Hi,

I had a secured loan with Northern Rock in 2006. - infact I'm still paying it back via a DAS scheme. I'm keen to establish if PPI was attached to that loan.

I tried calling NRAM but they have no record of me ever having a secured loan wiht them. I contact Virgin Money and they have no record of me either. I called the FSCS and they cant help and advised calling NRAM back and forcing the issue.

The DAS payment distributor I use to pay the loan advise they can't give me the contact details of who they are paying every month. - not sure why. maybe they actually don't have a phone number just a bank account they pay into every month.

Anyone have any idea of how I can move forward with this? - I still have the NR account number and neither NRAM nor Virgin money can find the account.

regards

Kipnae

[Deleted User]

If you defaulted on this loan then any redress (if you actually had PPI), would be offset against monies (interest etc) which was written off as part of that default.

Have you actually established whether you ever had PPI?

This is now several threads from you asking basically the same question, but about different providers...

antrobus

Well, NR was something like a £100 bn bank when it went pop in 2008.

Virgin Money only bought the 'good bank' bit in 2011. And about £16 bn of mortgages. Since then, other chunks have been disposed of; Cerebus bought a big chunk in 2016, and then offloaded some of them to TSB.

So it would be impossible to say where any particular loan ended up.

But it was a "secured loan", so the Land Registry should have a record of the charge, and presumably whose name it is in.

However, I was under the impression that NR sold a lot of its mortgages through intermediaries, who would have also sold any PPI. In which case the intermediary would be liable for any mis-sale.

Kipnae

Not sure what the etiquette is - are you advising I should have listed all providers in just one thread?

Establishing if there was any PPI is what I am trying to do.

and if any potential PPI payout is offset against the loan, is that a bad thing?

Nasqueron

Kipnae wrote: »

Not sure what the etiquette is - are you advising I should have listed all providers in just one thread?

It's easier to answer and for you to track yes. Just remember to keep your complaint reasons specific for each case, not a generic one

Kipnae wrote: »

Establishing if there was any PPI is what I am trying to do.

Ring banks and ask is the easiest way

Kipnae wrote: »

and if any potential PPI payout is offset against the loan, is that a bad thing?

No but we get many people on here crying foul of their PPI refund being offset against old debts they didn't pay back so it's easier to tell people up front, it's not a judgement on you personally

[Deleted User]

Kipnae wrote: »

Establishing if there was any PPI is what I am trying to do.

If the Bank are saying they can find no record of the loan, then you probably need to send them a Subject Access Request (SAR) letter to be sure that information is correct. However, it sounds as if the defaulted loan has been sold to Debt Collection and you may also have to send a SAR to the DAS Payment Distributor.

You need to weigh up whether it is worthwhile pursuing this. Even if you find that the loan had PPI, there is guarantee that it will be adjudged mis-sold. There is also the distinct possibility that there was no PPI at all.