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  • FIRST POST
    • Hotcakes Debbie
    • By Hotcakes Debbie 10th Sep 11, 2:57 PM
    • 14Posts
    • 73Thanks
    Hotcakes Debbie
    Cahoot flexi loan / Santander REFUND WOW
    • #1
    • 10th Sep 11, 2:57 PM
    Cahoot flexi loan / Santander REFUND WOW 10th Sep 11 at 2:57 PM
    Hi
    I'm new to all this but was so excited about a letter from Santander this morning offering me 4866.96 back.
    I too noticed recently that when they took over the Cahoot loan they increased the interest rate to 21.94% from about 8%.
    So thought i would write a letter to get the ball rolling etc... how I felt this was excessive and didn't have any correspondence from them about the take over, it was only a few lines 3 weeks ago!!!!
    They did state they are NOT at fault and this was a good will gesture! hey but if I wasn't guilty of wrong doing I wouldn't pay up!

    Just waiting for them to credit my account, so watch this space....
    Deb
Page 1
  • DON79
    • #2
    • 10th Sep 11, 3:07 PM
    • #2
    • 10th Sep 11, 3:07 PM
    congratulations
    BSC #215/No.1 Jan 09 Club
    • InsertWittyName
    • By InsertWittyName 10th Sep 11, 4:02 PM
    • 1,067 Posts
    • 4,921 Thanks
    InsertWittyName
    • #3
    • 10th Sep 11, 4:02 PM
    • #3
    • 10th Sep 11, 4:02 PM
    Interested in the content of the letter you sent, if you wouldn't mind sharing it?
    I was a DFW, now I'm a MFW
    • chanz4
    • By chanz4 10th Sep 11, 5:07 PM
    • 9,979 Posts
    • 2,970 Thanks
    chanz4
    • #4
    • 10th Sep 11, 5:07 PM
    • #4
    • 10th Sep 11, 5:07 PM
    you wont get any more than that back, green eyed monster
    • Hotcakes Debbie
    • By Hotcakes Debbie 10th Sep 11, 7:30 PM
    • 14 Posts
    • 73 Thanks
    Hotcakes Debbie
    • #5
    • 10th Sep 11, 7:30 PM
    • #5
    • 10th Sep 11, 7:30 PM
    What do you mean chanz4 ?
    • Hotcakes Debbie
    • By Hotcakes Debbie 10th Sep 11, 7:39 PM
    • 14 Posts
    • 73 Thanks
    Hotcakes Debbie
    • #6
    • 10th Sep 11, 7:39 PM
    • #6
    • 10th Sep 11, 7:39 PM
    Will post letter and all info once i receive refund ( don't want to count my chickens....)
  • patfla
    • #7
    • 14th Nov 11, 10:49 AM
    cahoot
    • #7
    • 14th Nov 11, 10:49 AM
    For the past 3 months they have reduced my interet to zero from the sky high rate.
    I asked them why via telephone and they stated that they looked at the account and decided to reduce the rate to zero per cent.
    Again accepting no responsibility for my complaint.
    I have now written TWICE to them to explain why they have reduced the rate,from what date does the zero per cent interest rate commence,and am I due a refund of funds after paying the high rate for so long.Needless to say they have not answered as yet,will keep all informed
    • arbroath lass
    • By arbroath lass 14th Nov 11, 1:24 PM
    • 1,571 Posts
    • 3,848 Thanks
    arbroath lass
    • #8
    • 14th Nov 11, 1:24 PM
    • #8
    • 14th Nov 11, 1:24 PM
    I received over 3000 from Santander on Friday. Good to hear others are getting theirs too. I was a bit it concerned something odd was going on.
    • Kira000
    • By Kira000 14th Nov 11, 4:52 PM
    • 1,979 Posts
    • 8,037 Thanks
    Kira000
    • #9
    • 14th Nov 11, 4:52 PM
    • #9
    • 14th Nov 11, 4:52 PM
    I sent a complaint about my cahoot flexi yesterday, following another post on here from Harry, and have had a preliminary response acknowledging the complaint today, and assuring me they would be investigating.
    I will be interested to see what they say, as i think my account was opened in 2000, and finally closed (with help from a cheaper loan) last year. Off on mat leave soon, so anything i got offered back would be a super bonus!

    Well done you!
    Married 13/03/10 #1 DD born 13/01/12!!

    Newborn Thread Founder
    • Cell
    • By Cell 14th Nov 11, 9:54 PM
    • 524 Posts
    • 200 Thanks
    Cell
    This was referred to in this thread yesterday

    http://forums.moneysavingexpert.com/showthread.php?t=3578349

    I can't pretend that I fully understand why the refunds are being given and as such don't quite know what to write.

    I paid mine off a couple of months ago, but the interest rate certainly changed over time.

    Any template that people have used would be greatly appreciated, thank you.
    • arbroath lass
    • By arbroath lass 14th Nov 11, 10:05 PM
    • 1,571 Posts
    • 3,848 Thanks
    arbroath lass
    All I wrote was -

    Account : XXX

    I write to raise a formal complaint on the above account. The account was taken out on XX/XX/XXXX with the company Cahoot. I understand Cahoot was taken over in the 2009/2010 period by Santander who had bought the parent company Abbey.

    The account was excellent until October 2006 when the company imposed massive interest rate hikes. These interest rate rises continued until the account was settled in XXX XXXX.

    I wish to complain that these rate rises were unfair and the rate rises and final rate were unreasonable.

    This was based on advice from Harry6854 (the OP on the other thread).
    • Cell
    • By Cell 14th Nov 11, 10:49 PM
    • 524 Posts
    • 200 Thanks
    Cell
    Thanks for that.

    I don't know the interest rate history unfortunately because it was all on line before Santander took the facility offline.

    Clearly this is working for people, but my recollection is that the rate was variable. Essentially it acted as a revolving credit card type account without the actual card.

    Did you write, or e-mail? In either case I'd really appreciate it if you could give me the relevant address.

    Many thanks once again :-)
    • arbroath lass
    • By arbroath lass 14th Nov 11, 11:16 PM
    • 1,571 Posts
    • 3,848 Thanks
    arbroath lass
    Hi Cell,

    I emailed th the CEO email on the other thread. You don't really need any interest details as most rates seem to have started rising around the same time.

    Yes, the agreement was a variable interest rate but some people have complained to the FOS who said although it was in the T&Cs it still had to be fair.

    Santander told me the didn't think they had done anything wrong but were refunding as a gesture of goodwill. I haven't had any paperwork yet but Santander had all the details and worked everything out.
  • Im78
    Glad to here people's success with this. I've had a refund of ppi from Santander, they are still investigating the interest issue so hoping to be successful on that front as well :-)
  • morgymoo
    I have also received 3082 refund of interest It does pay to complain
    • Cell
    • By Cell 6th Jan 12, 1:22 PM
    • 524 Posts
    • 200 Thanks
    Cell
    I'd completely forgotten about this!

    Thanks for the reminder :-)
    • Nicky321
    • By Nicky321 6th Jan 12, 7:40 PM
    • 1,423 Posts
    • 610 Thanks
    Nicky321
    My loan was cleared and the extra money sent by cheque, but they said they couldn't find anything to suggest they where at fault but had refunded as a gesture of goodwill, certainly worthwhile complaining.
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