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    • Hi dx, thanks. Yes actually, that is the case with this one! I've taken tomorrow off work, I need to review the whole binder for each of these and I'll refrain from further questions until I do just that. Just on hold for court ref Claim #2
    • 1. who knows... 2. not the whole A/C vanishes from your file on the DN's 6th b'day ...already carefully explain this. 3.yes 4.already carefully explain this.
    • if i remember rightly, long ago in one of the first drafts of the old proposed gov't overhauls, there was a listing of recommended 'charges' that inc wrong reg = £20. some PPC's implemented such changes in advance. then later as it looked increasing likely the new code was never going to be implemented after it's 1st review and another set of codes was to be debated they all quietly revert back .......... dx
    • Potentially it may not even get sold on? Just the default left for 6 years then gone? but if it is sold on ill get a letter from the DCA which is the notice of assignment? Sorry what is the different between a default notice and a default cal marker? yes, i may try and work arrangements out with the OCs after the breathing space but I'll see my circumstances then thank you again for all your help and patience, I really appreciate it and apologies If i am too fast or repeating myself.
    • receiving a default NOTICE (forget simple default cal markers) does not mean it will get sold on... OC's very very rarely do court themselves.  if it does you would receive a Notice of Assignment from the debt buyer/DCA.  as for reduced payment if it remains with the OC and they issue a DN, no harm in trying but lets get all your ducks inline first. dx  
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Norwich Union Equity Release product


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Does anyone in this forum have any experience of dealing with the above product? Can anyone explain ( perhaps from NU) why they continue to charge a huge compound interest charge even after the borrower has died? How can this be legal, or ethical, or reasonable? I am now apparantly responsible for interest charges without having had the benefit of the equity release product......although Im happy to say that my relative did and good for her too!! Norwich Union seem to be profiteering from my loss to the tune of 7.6% compound interest.

No where in the agreements for this loan did they clarify that interest will continue to be charged after the death of the borrower and the implication is that all you have to do is sell the house to repay the debt.

The house has to be sold to repay the debt and Im sure that it is right to repay the original loan and interest up to the point my relative died, but afterwards????

Surely this is just a gross attempt to make more money out of the beneificiaries of the Estate.

 

NU have made little attempt to explain themselves so far although I have instigated a complaints procedure to little affect. In fact they are perfunctory in the way in which they speak to you citing only that they have a claim on the house, ( ie first claim) by way of threatening us to settle.

 

Another bank to whom the estate owe money have waived all the interest charges for 6 months, have allowed us to make payments as and when we can and have been expemplary in the way in which they have treated us. This loan was tiny in comparison and was lent based on the value of the property although there appears to be no direct claim on the property itself.

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