Jump to content

You can now change your notification sounds by going to this link https://www.consumeractiongroup.co.uk/index.php?/&app=soundboard&module=soundboard&controller=managesounds

 

You can find a library of free notification sounds in several places on the Internet. Here's one which has a very large selection https://notificationsounds.com/notification-sounds

 

 

BankFodder BankFodder

 

BankFodder BankFodder


cs1810

Natwest enforceable agreement

style="text-align:center;"> Please note that this topic has not had any new posts for the last 3989 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi all,

 

This is my first post so i'd like to say what a great resource this website is, and thanks everyone for taking part to share what you know.

 

I have an unsecured loan with Natwest that i took out to do a Masters degree. I actually signed the agreement in sept 2007, but from what i can make from the agreement it seems as though they are were still using the unammended CCA agreement.

 

I have been through this website and from what i can see, the agreement looks as though all the terms are there, and enforceable, however as i don't really know what to look for i'd like to offer it to some second opinions.

 

I've attached a photobucket link to the docs i have. These are the customer copy of the agreement that i had since signing.

Pictures by cs1810 - Photobucket

Thanks,

cs1810

Share this post


Link to post
Share on other sites

All the precribed terms are there - amount of loan, interest rate and repayment schdule - BUT - what they are not allowed to do is add a fee to the loan and on the paragraph on the amount of the loan it says Credit plus fee plus interest. If they have been charging interest on that fee then that could make the whole thing unenforceable (read the case on Wilson Vs First County Trust - you'll find it if you google). Also, they are supposed to show you the total charge for credit - the loan plus interest added together, not simply list them separately. You could argue that the delayed repayment was not sufficiently explained for you to know exactly what the total costs would be or to work out whether the monthly payments are correct. Also, under the new format for agreements, they were supposed to give you an illustration of what the costs would be if you made early repayment - so much if you paid at the one-third stage, so much at the 50% stage and so on - laid out in chart form so you could understand it.

 

In my view this agreement, the costs and how they were arrived at are a clear as mud.

Share this post


Link to post
Share on other sites

Thanks pinky69, you made some interesting points. Is the lack of the total cost of borrowing enough, along with the early settlement grid, to make it unenforceable? I see in section 3 they do speak about early settlement.

There seems to be a lot of rules and terms that basically reinforce how important it is that you pay them (unsurprisingly), but the actual details of the loan are pretty small. I presume that's normal?

Share this post


Link to post
Share on other sites

The details of the loan are a required prescribed term - they must be in the agreement. They have not given you the total charge for credit - the loan plus the interest (not the fee) added together. What a judge would look at would be is there enough in the agreement to say you borrowed the money to enforce it. He/she might say the presentation wasn't as it should have been but you still owed the money. That's as far as I can advise.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...