Northern Rock

Mumad

Thrugelmir wrote: »

Costs and Interest of £12k is not the unsecured loan.

You borrowed £53k initially and then a further £10k. Total debt around £63k.

yes... but that included an unsecured amount, which was later secured by way of a ccj / charge
but subsequently added to my mortgage account as an extra debt.

silvercar

Did they repossess or did you sell yourself?

Mumad

silvercar wrote: »

Did they repossess or did you sell yourself?

I sold it and my solicitor paid NR

davidmcn

If you defaulted on the loan and they ended up putting a charge on the property, then I'd expect a significant amount of default charges / interest / legal costs etc to have been incurred - do you have details of what those were and when they were settled?

As I said though, I think this is fruitless 15 years after the event, and long after Northern Rock ceased to exist.

Mumad

davidmcn wrote: »

If your solicitor really had overpaid by £12k (or by any amount), the overpayment would have come straight back to them. It's implausible that it wouldn't have been noticed (or have been brushed under the carpet). As above, I suspect it's the various charges and interest arrears.

That's probably the case if NR received an amount of money they wasn't expecting, however in this case they received the amount they requested.

davidmcn wrote: »

If you defaulted on the loan and they ended up putting a charge on the property, then I'd expect a significant amount of default charges / interest / legal costs etc to have been incurred - do you have details of what those were and when they were settled?

As I said though, I think this is fruitless 15 years after the event, and long after Northern Rock ceased to exist.

Ok to clarify...

I have a breakdown of my mortgage account it shows....

secured loan amount
unsecured loan amount
ccj amount

the original ccj and response pack show that it is for an unsecured loan of 12k it shows the amount i have paid back towards it and is deducted from their claim, they have obviously added and continued to add interest up until it was settled.

what NR have failed to do is apply this correctly to my mortgage account, or more importantly have failed to deduct the original unsecured loan from the account as it is now secured to the property by way of the charge/ccj

other than a discharge fee £195 and an admin fee £165 there were no early settlement penalties, it was the whole reason i picked that mortgage.

my original question still remains... and i'm aware that its a long shot considering they have ceased trading, but i'm also aware they are still paying out on ppi and miss-calculated payments . so someone must still be looking into their affairs?

is there any protection from FCA or similar?

davidmcn

Mumad wrote: »

my original question still remains... and i'm aware that its a long shot considering they have ceased trading, but i'm also aware they are still paying out on ppi and miss-calculated payments . so someone must still be looking into their affairs?

is there any protection from FCA or similar?

I'm not sure how any ongoing claims are being dealt with (others here will know more), but I don't see why the standard time limit of six years wouldn't apply in this case if you were sent all the information at the time.