Northern rock. Nram?

cazza2093

Hi first post
We had a mortgage with secured loan from Northern rock from approx 1998 to 2007
We got in touch regarding ppi on the secured loan part but they said they had no record..
We found a statement from 1 year with all the details on they have now replied offering us £538 for that year as a goodwill gesture but say they still can't find records...do we take the money or take it further not sure what to do??

dunstonh

If you can provide them more records, they are required to use them.

Its all about the evidence. It doesnt matter if it comes from you or them.

Bermonia

If that is their final offer then you could take it to the Financial Ombudsman Service - usually where records are not complete the FOS have agreed a average redress payout (based on average payout of similar claims) this cannot be less than what you can already evidence but may be more.

However be wary as firm have not upheld your complaint, merely offered goodwill - as such FOS would have recommend that your complaint be upheld which will be very difficult to do given the passage of time.

Therefore you may wanna take the offer and consider it a win as if you do go to the FOS they are able to withdraw their goodwill offer and take their chances.

Hope this helps.

Nasqueron

Bermonia wrote: »

If that is their final offer then you could take it to the Financial Ombudsman Service - usually where records are not complete the FOS have agreed a average redress payout (based on average payout of similar claims) this cannot be less than what you can already evidence but may be more.

However be wary as firm have not upheld your complaint, merely offered goodwill - as such FOS would have recommend that your complaint be upheld which will be very difficult to do given the passage of time.

Therefore you may wanna take the offer and consider it a win as if you do go to the FOS they are able to withdraw their goodwill offer and take their chances.

Hope this helps.

The average spend thing is more likely to be applied in the cases of CC, with a 1 year payout it could well have been cancelled after a year - if there are no records of when the plan was operating they won't give a payment for each year

Bermonia

Average redress is regularly applied across all lending formats where a bank no longer has records but it can be evidenced that a policy was at least in force - however as already stated FOS would only insist that be applied if there were evidence of a mid-sale which is unlikely given the passage of time.