Northern Rock exist?

emilygreatorex

My parents are currently fighting an ongoing battle with Aviva where they say Northern Rock (now NRAM) have an interest. But virgin money took over from Northern Rock when they went bust? So now Aviva will not release funds? Anybody experienced this? 

Thrugelmir

Virgin Money did not takeover Northern Rock. VM only took over the branch network and saving deposits when NR went under. Your mortgage would have been transfered to NRAM originally. Will have remained there unless it's been sold on subsequently. If the mortgage has been sold on you would have been informed. 
Does NRAM still hold a charge on the property? Is there still an outstanding mortgage? 

RelievedSheff

The Northern Rock mortgages went to NRAM and subsequently Landmark.

Have you checked the land registry to see what charges are applied to the property?

dunstonh

My parents are currently fighting an ongoing battle with Aviva where they say Northern Rock (now NRAM) have an interest.

This should not be a battle.    Many lenders originally required endowments to be signed to them so any maturity or surrender proceeds would be paid direct to the lender.    So, it needs the lender to say that they have no financial interest in the policy.

But virgin money took over from Northern Rock when they went bust? So now Aviva will not release funds? Anybody experienced this? 

Your parents need Landmark to write a letter confirming there is no financial interest in the endowment policy.  If Landmark refuse, then you write a complaint to Landmark.     As endowments have got fewer in number over the years and the later ones didn't need have the financial interest noted, there are not as many nowadays and younger staff with less experience may not be aware of this.  However, the complaints team will be.  And if they refuse then the FOS certainly would be aware.    Aviva may need to be told that Landmark now holds NR mortgages.  Don't assume their staff know the ownership chain.

Thrugelmir

RelievedSheff said:

The Northern Rock mortgages went to NRAM and subsequently Landmark.

NRAM still holds a rump of the old Northern Rock mortgage book. Far from being wound up. 

dunstonh

 

Thrugelmir said:

RelievedSheff said:

The Northern Rock mortgages went to NRAM and subsequently Landmark.

NRAM still holds a rump of the old Northern Rock mortgage book. Far from being wound up. 

Good point.    If the mortgage was repaid whilst it was still NRAM then NRAM should be the first point of call.  Not Landmark.  

davidmcn

As is often the case, the problem may be persuading a lender who can no longer find an account on their systems why they ought to be signing anything.

JoRogan

Hello - I found this helpful as in similar situation, did you get this sorted?

I contacted my Royal London today, who my Endowment is with, and got them to confirm who my policy is assigned to which is also Northern Rock, helpful lady said to contact Virgin Money. Contacting Virgin I explained my NR mortgage ended in December 2005, he had a quick check on his system (post code) to locate property and could not (which is good I guess!) he then took further contact details (Royal London and mine) along with my full name and DOB in order to get a Notice of No Financial Interest out to me as well. He said the request would be passed on to NRAM for their team to sort and if I don't hear back in a week or two to ring back.

(Background)
The main thing here is that he took my details and 'made a profile' so I am on file - what is interesting is that I wrote a letter to Virgin Money months ago and they replied back with a compliment slip saying they could not find my account and that if it was related to mortgage with Northern Rock PLC that I should contact NRAM. So I did, over the last 8 weeks or so I have written twice and phone them twice and still have not had any reply!! 

I feel like I am getting a little bit closer to wrapping this up now, 
C
(PS found another post helpful so will try posting this there too in case its of some help)

Thrugelmir

NRAM like everyone else will have been prioritising their limited staff resources to the critical activities first. 

JoRogan

** update **
I checked with Virgin Money this morning and after locating my profile my request was located and they could confirm that NRAM had sent notice to Royal London on the 12th June just two days later. No copy to me as I had asked but the operator took my address and said she would request copy sent to me. As I had not received a copy of letter I quickly rang Royal London and they confirmed they had received the notice of no interest from NRAM.
All in all, as someone else eluded to here or in another thread, half the battle is getting through to someone who knows the process but I have to say Virgin Money took just one phone call which was good (although an initial letter to them mid March only resulted in a compliment slip suggesting that I try NRAM as Virgin Money could not locate my account!). I sent NRAM 2 letters and made 2 phone calls and got no response, the Virgin Money route seemed instigate a better response!
Hope that helps
Cheers all
C.

Philippeville

DOES ANYONE HAVE A MORTGAGE WITH GRASMERE MORTGAGES LTD IF SO CAN YOU CONTACT ME.