Santander

[holley]

I used to have a loan with Cahoot but I assume it has been transferred to Santander not that I have had any notification regarding this but I think they have changed the terms of the loan ie I used to be able to withdraw money from the loan but now I cant can they do this without letting me know. I would have thought they should have advised me they have taken over the loan and what my terms and conditions are

[holley]

Anyone please

[holley]

Have just tried to view my loan through Cahoot and it is no longer available also Cahoot have put a fixed rate charge through my account of £60 no idea what this is as there was enough money in the account to cover direct debits etc but no direct debit has been taken for Santander so I am wondering if they tried to take more than they said they would which would have put me overdrawn but how do I get to the botom of this?

[cerberusalert]

You could send a SAR http://www.consumerforums.com/resources/templates-library/86-debt-collectors/576-subject-access-request-debt-a-dca which will cost £10. From this you'll get copies of your agreement, statements etc, then it should throw up any unfair charges or PPI you can reclaim + whether the agreement is enforceable or not.

[holley]

Thanks for that

[jondavis30]

Hi Holley,

 

Santander are due to take over the flexible loans and you can no longer withdraw from the loan, this facility has now been withdrawn.

 

I left cahoot on 14th Jan and so i don't have the most up to date info on this, however, it is my understanding that Santander are taking over the flexi loan product to ease the debt base from cahoot (which was too heavy).

 

Prior to leaving the business, cahoot notified all customers that the flexi loan limits were being reduced and limit increases were no longer available.

 

Ensure that your email address is always up to date with cahoot, otherwise you wont get the T&C variation notices. (Cahoot will use the line "were an online bank and our main form of comms is email").

 

I do believe that the a/c at cahoot has now terminated and Santander have now took control of the flexi loan base.

 

You can call cahoot on 0844 9000 900 and ask to speak to a manager. if they tell you no one is available, insist that you will stay on the line until someone is available and you will get a manager within around 2-3 mins.

 

Good luck with it all

cahoot ex employee

[BelstarBomb]

Hi Jon,

 

if that's the case, as the account has changed from a flexible loan in which you can pay the balance down and your payments change accordingly to a fixed loan with fixed payments, shouldn't cahoot have done more as in get permission or swapped it over to Santander on the same basis allowing you payments to be flexible as you pay off your balance.

 

As with all people here, even though I got an email saying it was being transferred, I was also informed I would get something in writing, which I never did.

 

I then didn't hear anything for months, then started getting statements but no official documentation supporting the change or giving me an option to do anything about it.

 

Not impressed!

 

Bel

[BelstarBomb]

Also, aren't the T&C's/CCA different for flexible/revolving credit agreement and fixed credit?

 

Should cahoot got us to sign a new agreement when it was transferred to Santander?

[BelstarBomb]

Also, aren't the T&C's/CCA different for flexible/revolving credit agreement and fixed credit?

 

Should cahoot got us to sign a new agreement when it was transferred to Santander?

[jondavis30]

As for communications, cahoot would have issued out an email to all users giving them the contractual 30 days notice of changing the account over, and giving customers the opportunity to seek other ways of settling the debt.

 

Unfortunately, the transfer that cahoot made is airtight in terms of its ability to move the account over to santander, it used the term that changes can be made to the account at any time, provided x days notice is given to the customer.

 

If you've changed your email address and not updated it with cahoot, you won't have recieved any T and C notice's of variation.

 

I no longer work for cahoot, as you can gather from previous posts, however, the fact that it stated in the terms re: changes to the account (can't remember the clause) gave them the right to make the adjustments.

 

You probably get statements because as santander is not an online account provider, it issues it's statements by post, unless you opt out of paper statements, although without looking at individual cases i won't be able to tell what the reason for this is.

 

As for Santander now running the accounts, i'd find another lender. Chances are that the interest rate (depending on the balance of the ex flexi loan account), will be beneficial by going elsewhere.

 

Good examples of reasonable interest lenders are : Barclays, Royal Bank of Scotland and Natwest, oh and Nationwide.

 

Hope this helps

[jondavis30]

In addition, if you have £10 to spare, it will be worth writing to cahoot, with a cheque, asking them for what is known as a subject access request.

 

They are obliged to provide every piece of info ever sent out to you, ever held about you and ever communicated with you. Albeit via email, post, etc. Whatever was sent and whenever it was sent, they have a legal obligation to provide the information, if they do not provide this within 40 days, you can escalate a complaint to the information commissioner.

 

Cahoot will probably ask why you want a subject access request, if they ask such questions, advise them that you do not wish to discuss the reasons behind the request and that you want them to stick to the 40 days from your ORIGINAL communication, as the clock starts ticking from when they receive your letter of request, it's advisable to send it by recorded delivery, so you know exactly when it was received by cahoot and so that you have evidence in the event of non reply.

 

The best address to write to is :

 

Cahoot

3rd Floor

Friars House

Coventry

CV1 2TE

 

Address your letter for the attention of the Service Relationship Team (SRT).

[BelstarBomb]

Hi Jon,

 

Thanks for your detailed response!

 

How's life at the Nationwide?

 

I have actually sent of my letter and SARs today as it happens.

 

I am querying the rate of interest as there is a huge differnce between what the Flexible Loan and the now fixed loan that I am on. There have been people of CAG that have had this refunded/credited to their account when they have taken this up.

 

I have also queried the fact that I did not get anything via email or in writing giving me the exact T&C's of the fixed loan as it is vastly different to the flexible loan in that my payments are fixed and do not come down whereas with the FL they did.

 

I was also not sent a copy of the new T&C's or a new credit agreement either.

 

Finally, I had asked for my PPI to be cancelled via the account manager and was told that I couldn't. I subsequently put it in writing but have still been charged it. I didn't need it any more as I had taken out another policy that gave me better protection.

 

I did send it special delivery so we will see what comes out of the wash.

 

I loved cahoot but Santander are ripping the soul from it!

 

Bel

[jondavis30]

I don't work for nationwide, never have done.

 

I went over to work for a local government service provider and now i'm a professional healthcare provider.

 

I've always had my accounts with santander, and they've been spot on with their service and products, i think its just the transition of the felxi loan to santander and the way in which they need to continue a profit on a black hole in cahoots accounts.

[patfla]

On this months statement from santander re flexiloan i have been charged 0% interest instead of the 20%

anyone else got something similar?

i e mailed them to advise me why but no response as yet

thnx