My daughters took out a together mortgage. They have since sold the property but still have part of the loan outstanding. The original loan was for £30k and they paid it off but for 9k. They are now penalised with high interest for the balance. I would like to know if this loan was arranged according to the law as it also states it is covered by the 1974 CCA which it clearly was not as it was for more than £25k.

I was really interested to find this thread as my 2 daughters have a similar problem. They took out a Northern Rock Together Mortgage. The mortgage was for £92,000 and the personal loan part was for £28,000 although it was presented to them as a 'Fixed Sum loan agreement regulated by the CCA 1974' This was take out on the 17th November 2006 so clearly was not regulated by the 1974 CCA. I am trying to find out if the agreement has any validity?

They borrowed £92,000 on mortgage and £28,000 on the Loan. They did not take any insurances. I dont understand how the loan can come under the 1974cca if it was over £25,000? Thanks for the reply.

Any advice would be appreciated. My daughters took out a together mortgage with Northern Rock in November 2006. They took a £93,000 mortgage and then a £28,000 unsecured loan. The loan document says ‘Fixed loan agreement regulated by the consumer credit act 1974′ on the front of it. also inside it says ‘this credit agreement is regulated by the consumer credit act 1974. sign it only if you want to be legally bound by its terms’ and ‘ The consumer credit act 1974 lays down certain requirements for your protection, which should have been complied with when this agreement was made. If they were not, we cannot enforce the agreement against you without a court order’ The loan was taken out in Nov 2006 and at this time loans above £25,000 were not covered by this act. Only loans after April 08 were covered if over £25,000. They are not protected by the CCA 1974 and yet they were told they were, therefore is this loan written incorrectly ? Can it be claimed that it was mis sold ?

Any advice would be appreciated.. My daughters took out a together mortgage with Northern Rock in November 2006. They took a £93,000 mortgage and then a £28,000 unsecured loan. The loan document says ‘Fixed loan agreement regulated by the consumer credit act 1974′ on the front of it. also inside it says ‘this credit agreement is regulated by the consumer credit act 1974. sign it only if you want to be legally bound by its terms’ and ‘ The consumer credit act 1974 lays down certain requirements for your protection, which should have been complied with when this agreement was made. If they were not, we cannot enforce the agreement against you without a court order’ The loan was taken out in Nov 2006 and at this time loans above £25,000 were not covered by this act. Only loans after April 08 were covered if over £25,000. They are not protected by the CCA 1974 and yet they were told they were, therefore is this loan written incorrectly ? Can it be claimed that it was mis sold ?

My daughters took out a together mortgage with Northern Rock in November 2006. They took a £93,000 mortgage and then a £28,000 unsecured loan. The loan document says ‘Fixed loan agreement regulated by the consumer credit act 1974′ on the front of it. also inside it says ‘this credit agreement is regulated by the consumer credit act 1974. sign it only if you want to be legally bound by its terms’ and ‘ The consumer credit act 1974 lays down certain requirements for your protection, which should have been complied with when this agreement was made. If they were not, we cannot enforce the agreement against you without a court order’ The loan was taken out in Nov 2006 and at this time loans above £25,000 were not covered by this act. Only loans after April 08 were covered if over £25,000. They are not protected by the CCA 1974 and yet they were told they were, therefore is this loan written incorrectly ? Can it be claimed that it was mis sold ?

My daughters took out a together mortgage with Northern Rock in November 2006. They took a £93,000 mortgage and then a £28,000 unsecured loan. The loan document says ‘Fixed loan agreement regulated by the consumer credit act 1974′ on the front of it. also inside it says ‘this credit agreement is regulated by the consumer credit act 1974. sign it only if you want to be legally bound by its terms’ and ‘ The consumer credit act 1974 lays down certain requirements for your protection, which should have been complied with when this agreement was made. If they were not, we cannot enforce the agreement against you without a court order’ The loan was taken out in Nov 2006 and at this time loans above £25,000 were not covered by this act. Only loans after April 08 were covered if over £25,000. They are not protected by the CCA 1974 and yet they were told they were, therefore is this loan written incorrectly ? Can it be claimed that it was mis sold ?