Santander are now refunding interest payments on Cahoot flexible loan's

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  • teddyclown
    teddyclown Posts: 24 Forumite
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    That's very interesting, Harry6854. I have one of these Cahoot flexible loans which was switched to Santander. Originally at 8%, now 20%. I have emailed as suggested and will see what happens. For some odd reason they have stopped sending me statements - the last one I have on file is March this year - then nothing. Have rung them several times and each 'bod' promises me a statement will be put in the post - but still nothing to date.
    Thanks again....
  • happy_bunny_2
    happy_bunny_2 Posts: 4,488 Forumite
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    You can also email to the complaints address on here:
    http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&cid=1210607166846&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateA2

    You will get a reply from here.
    :beer:
  • teddyclown
    teddyclown Posts: 24 Forumite
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    Thanks for the link happy_bunny. I'll give it a few days and see if I get any response. If not, I'll forward my email to their complaints department. Harry6854, how long did the process take you - did they respond fairly quickly?
  • Im78
    Im78 Posts: 4 Newbie
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    Hi all

    Thanks for the tip about this.

    I emailed using the CEO email address on Monday no reply as yet.

    My cahoot flexible loan opened in 2003.

    What specific reasons are people putting for submitting these complaints/claims ?

    TIA
  • happy_bunny_2
    happy_bunny_2 Posts: 4,488 Forumite
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    As I mentioned in a post above, based on the following. PM me if you want a copy of my complaint letter:

    "jacking up the interest by that much on a existing loan is pretty unfair (hence the refunds on complaint). Bit harder when you also spend at the higher rate.

    I had around 12k that got rate rises from 9 to 23%, I spent a little on it but most was already there when they rate jacked me.

    I said it was unfair to lend me 12k at 9% then just keep saying 'we've put up your rate' with no reason given'.

    In the terms and conditions it said the interest rate was variable, but the handling of the account still has to be fair."
    Im78 wrote: »
    Hi all

    Thanks for the tip about this.

    I emailed using the CEO email address on Monday no reply as yet.

    My cahoot flexible loan opened in 2003.

    What specific reasons are people putting for submitting these complaints/claims ?

    TIA
    :beer:
  • arbroath_lass
    arbroath_lass Posts: 1,607 Forumite
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    I sent an email and got an email response within a couple of days. Within a week I'd a phone call from someone called Richard, saying, as a gesture of goodwill, they would refund the difference between the original interest rate and any increases.

    I was advised it would take about a week to do the calculations and, sure enough, I got another call about a week later with a figure. I was told the amount was over what Richard could authorise and he would pass it to his supervisor for authorisation and they would be in touch again next week.

    I must admit it seems to easy. I can't help but think it is too good to be true. Has anyone other than the OP received any money?
  • teddyclown
    teddyclown Posts: 24 Forumite
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    I emailed on 8th November (Tuesday of this week) and nothing as yet. I'll give it a week, and then copy my email to their complaints section - link kindly supplied by happy_bunny. It would be great to get something back. I am really struggling with finances at the moment. I am self employed and have a shop - and business is just dire at the moment.
  • XXSCOTSLASSXX
    XXSCOTSLASSXX Posts: 418 Forumite
    edited 11 November 2011 at 9:24PM
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    arbroath_lass wrote: »

    I must admit it seems to easy. I can't help but think it is too good to be true. Has anyone other than the OP received any money?


    I received letter a month ago with calculations etc, sent off the acceptance ...heard nothing since! called last week as payment due (refund will clear the outstanding balance) and was advised will be another 3-6 weeks before applied to account grrrr think they stalling a bit :(

    Just for info: my calculations letter came from Customer Retentions.... acceptance form was sent back in pre-paid envelope to Mortgage Operations (very odd i thot lol)
    On the road to financial freedom.... one MSE penny at a time....:T
  • happy_bunny_2
    happy_bunny_2 Posts: 4,488 Forumite
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    I got £5k+ back but had to go via the FOS.

    My wife just got a letter as well from the FOS, as for some reason Santander just rejected her complaint (probably as she's married to me :)) and will be getting back quite a bit of cash, amount TBD but will pay off most of the outstanding balance.
    :beer:
  • arbroath_lass
    arbroath_lass Posts: 1,607 Forumite
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    I've just checked my current account and £3k has been deposited today as an "account adjustment"! My current account is with Santander. I haven't been sent any details or signed anything. Is this not a bit weird?
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