Do you have a Northern Rock Together Mortgage? Read This.

[GothBoy]

I don't think there's any group action as yet, people are waiting to see what happens. It's all very 'cloak and dagger'.

 

Daniel

[GothBoy]

Find your link GothBoy interesting when your allowed please post links

Pecky1

 

I think I can now post links so here goes:

 

Industry look at 2006 CCA changes - http://www.wragge.com/alert_1294.asp

Solicitor's opinions on the 2006/2008 changes - http://www.morton-fraser.com/publications/articles/262_the_consumer_credit_act_2006_and_the_new_regulations

The CCA 2010 Regs re: Modification - http://www.legislation.gov.uk/uksi/2010/1014/regulation/5/made

 

They all point to any changes automatically quash the earlier agreement and create a new one. Even taking a month's payment holiday should do this as it changes the monthly payment amount.

[Robbo2716]

If Nram aren't paying redress by way of cash, does anyone know what would happen if I didn't pay my mortgage for say 2 months? I.e would the redress automatically correct the balance? Surely if you take a contract and the redress means you've paid off more of the loan than you should have / wanted to at this time then you should be able to get the money back?

[GothBoy]

If Nram aren't paying redress by way of cash, does anyone know what would happen if I didn't pay my mortgage for say 2 months? I.e would the redress automatically correct the balance? Surely if you take a contract and the redress means you've paid off more of the loan than you should have / wanted to at this time then you should be able to get the money back?

 

It won't, I went into arrears because the DWP forgot to put some cash in. Once it was sorted I phoned them and even though I'm over £2k ahead on the secured part I couldn't transfer any to the unsecured or draw it down. You need express permission not to pay, even when in credit.

[ScottK]

I have a together mortgage and have been out of work for around 14 months. I am now back in work and paying my bills

 

This morning I have been for my second Court appointment re: repossession with this arm of the Government.

 

Firstly the papers were served after I had discussed an arrears repayment plan and made my CMI payment in December, the papers were issued in January.

 

They have sent me the CCA letters through for both the secured sections of my mortgage but one is due to take 'up to 12 weeks' the judge this morning advised me to take advice on the CCA section of the complaint, and that the procedures had 'possibly' not been followed. My case has been suspended for 12 weeks to 'enable NRAM to calculate 'whether I will have a mortgage, let alone arrears to repay' I have since been advised to look at the case of Wilson V 1st county trust.

 

After looking at this I think I seriously need to go and seek some further legal advice as the free hour told me enough to give me the confidence to take these scumbags on, I have the bit between my teeth and nothing to lose. 12 weeks is a large suspension and I hope I have now enough time to do the following.

 

a/ get my arrears paid off by the NRAM refund

b/ seek legal advice, get my mortgage agreement scrutinised and verified and bring a case them using their existing case for repossesion to screw them into the ground like they tried to do to me.

 

This also opens up the question of what does it mean for others and how will it affect everybody who has the CCA error.

 

I appear to have taken on the tiger and I am but a man, a man with no money for big legal battles nor the patience where do I go from here?

[ceiralennon]

I have a together mortgage and have been out of work for around 14 months. I am now back in work and paying my bills

 

This morning I have been for my second Court appointment re: repossession with this arm of the Government.

 

Firstly the papers were served after I had discussed an arrears repayment plan and made my CMI payment in December, the papers were issued in January.

 

They have sent me the CCA letters through for both the secured sections of my mortgage but one is due to take 'up to 12 weeks' the judge this morning advised me to take advice on the CCA section of the complaint, and that the procedures had 'possibly' not been followed. My case has been suspended for 12 weeks to 'enable NRAM to calculate 'whether I will have a mortgage, let alone arrears to repay' I have since been advised to look at the case of Wilson V 1st county trust.

 

After looking at this I think I seriously need to go and seek some further legal advice as the free hour told me enough to give me the confidence to take these scumbags on, I have the bit between my teeth and nothing to lose. 12 weeks is a large suspension and I hope I have now enough time to do the following.

 

a/ get my arrears paid off by the NRAM refund

b/ seek legal advice, get my mortgage agreement scrutinised and verified and bring a case them using their existing case for repossesion to screw them into the ground like they tried to do to me.

 

This also opens up the question of what does it mean for others and how will it affect everybody who has the CCA error.

 

I appear to have taken on the tiger and I am but a man, a man with no money for big legal battles nor the patience where do I go from here?

 

I am affected by this cca problem, I have an unsecured loan and due redress, I spoke with lawyer yesterday as I would like the cash and not redress and change terms of loan. He said as they are non compliant they are in breach of regulations and have to repay any interest charged during period of non compliance. They cannot just apply redress without our consent. In another thread with money saving expert on same topic some customers as of yesterday have had redress applied so I will check today if this has been done with my account and tell them to take it off again ad start complaints procedure.

Lawyer also said they cannot act on arrears with this as it is unenforcable and court will agree with this.

[ceiralennon]

ScottK - if u have arrears on the affected loan they cannot act on it as the loan has been non compliant from 2008 so I would seriously look into this and speak with nram to see if ur account has been redressed now! They are sneaky so an so's makes me quite suspicious how they have sorted it do fast, hoping customers won't question the fact, can they ask for the cash instead!!!!!

[Slaw55]

From what I understand they haven't contacted everyone yet, especially those who have closed loans. I would write to them if you're under the £25k though as this should have already been dealt with.

 

Hi,

 

I hope somone can help or advise me these posts have been reallt helpful so far and it is only by chance i found this forum as i have had no corspondance from NRAM.

 

I borrowed about 18K back in 2007 when i got a together mortgage. I settled the loan last year in November so only have my regular mortgage to pay.

 

As i said i recieved nothing from NR so called them yesterday, a guy to my details and said he would pass it on for someone to investigate. As i have paid of the loan, i did it by making over payments etc through the years and additional one of payments will this effect me, do you think i will be entitled to a cash payout or will any monies due (if lucky enough) be refunded into my mortgage balance outstanding.

 

Thanks for your help in advance

[ceiralennon]

Hi,

 

I hope somone can help or advise me these posts have been reallt helpful so far and it is only by chance i found this forum as i have had no corspondance from NRAM.

 

I borrowed about 18K back in 2007 when i got a together mortgage. I settled the loan last year in November so only have my regular mortgage to pay.

 

As i said i recieved nothing from NR so called them yesterday, a guy to my details and said he would pass it on for someone to investigate. As i have paid of the loan, i did it by making over payments etc through the years and additional one of payments will this effect me, do you think i will be entitled to a cash payout or will any monies due (if lucky enough) be refunded into my mortgage balance outstanding.

 

Thanks for your help in advance

 

If you have paid off loan you will receive a cheque for refund of all interest payments made from oct 2009 to present.

I am challenging my redress by asking for the option to have a direct payment.

[ScottK]

And so it begins, no redress applied to my account yet. No sign of how much or when. Looking into this more now and the more I dig the more holes appear.

 

Don't know what the best course of action is now, I am going to submit a SAR and a request for my original agreement under the Civil Procedure Rules ( Pre action protocols and Part 31.16) as I want the signed copy that states I'm covered under the CCA for all parts of my 'Loans'

 

 

Any and all advice appreciated as I am flying solo now, finances mean I can't afford a solicitor but not entitled to legal aid.

[Parareg]

Hi everyone, i have been looking everywhere for advice, Or somewhere to vent some anger.lol, I'm not a financial king pin, so please bare with me.lol.

 

I had a NORTHERN ROCK mortgage which i got back in Nov 2007, with a unsecured loan of £21.200

I got the mortgage from a broker who has since gone out of business.

I didn't understand the mortgage then, and no further to understanding it now. All i wanted to do was get back on the mortgage ladder after my divorce. As i remember it was sold to me as a 100% mortgage. The total amount i lent was £124.732. over 20years.

 

As I remember the house price was £109.000, i got a mortgage for £103.500, and a loan for £21.200, £5.450, ish of the loan went towards to mortgage . The loan figure never seems to move.

 

I have been paying both the loan and the mortgage since 2007 and i am fully up to date with all my payments , though i must say its been very hard, and i have come close to giving up on this mortgage deal and losing the house. It's a constant worry that i will be left homeless or in debt.

 

I have tried to sell the property on two occasions but i am going to get nothing like what i paid for it.

I have looked at a remortgage with another company, but can't get one, and if i did, N-ram, would as i understand will hike up the interest rates of the loan. ( is that correct?)

 

In 2013 I asked N-ram if i could rent the property out, as i have moved in with my partner. WE NEED A LARGER HOUSE DUE TO OUR CHILDREN.

What an ordeal that was, but eventually i was granted a whole 12 months rental agreement. I didn't want to do it behind their backs as i know what would have happened if they had found out..... I was charged £100 by Nram for the privilege of allowing me to rent it out. Grrrrr

 

In 2012 I received a letter from Nram stating that my loan is a CCA regulated loan and that i will be entitled to possible redress.

In Feb 2013 I received a second letter, saying that any redress will be paid off to reduce my account balance, which i wasn't happy about, and that i will hear more from them in 12 weeks.

 

I e mailed Nram saying i didn't want any redress paid back to me in this way, and wanted the cash, ( which incidentally i will use to mend the roof of the Nram mortgaged house)

 

They have replied back on 22/02/13;

Thanks for your enquiry. The interest will be credited back to your account.

WE HAVE TAKEN LEGAL ADVICE ON THE ISSUE, AND BELIEVE THAT OUR PROPOSAL METHOD OF REMEDIATION IS THAT MOST APPROPRIATE COURSE OF ACTION.

Nram then go on to explain why they think that this is the best course of action.

 

So now what do you think i should do?

I want to know what this legal advice they have taken stated. Surely any redress should go back to me to use as i desire?

I am also going to pen a lengthy email to my M.P about this and the shenanigans of Nram, because after reading this site, i'm appalled by it all.

Maybe someone could do one via here and we can cut an paste it?

 

I feel trapped with the mortgage, though some might says its my own fault.

 

Its quite obvious Nram don't want all this bad debt.

So here's a suggestion; why don't Nram get their customers to make an legitimate offer on their homes, obviously lower then what they paid for it.

This will allow us to break free of this company, and them us, even if they lose out.

How many customers do Nram have?

Nram seem very quick at repossession of peoples homes and selling them off at a loss.

 

In the long term its got to be better than what they have at the moment,They then also keep the Loans at the interest rates that they are currently at.

 

Anyhow enough fantasy world. Now what is my/our next course of action?

thanks in advance. S.

[Eric40]

Hi there, see post below re my other half and his together mortgage. He sold his property and now left with the unsecured loan which he will be paying off for the next 20 years.

He too received a letter re the redress and of course not a cheque. I don't understand how they can take money from you but not return it in the same way?

I am considering a complaint on his behalf to the FOS re this together mortgage it's nothing short if daylight robbery. Now recovering from a brain tumour I am looking into all of this for him and would appreciate any help.

This is a great thread and I'd love to see people see justice for this the same way people were ripped off re PPI.

Keep the updates coming.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?t=359454&goto=newpost

[Jools58]

Hello Everyone,

 

I'm new to this site, although having just 'dipped in' to this thread, I reckon I should have been on it years ago, given the amount of debt I have!

 

Just having read a few of the enties on this thread, please could someone briefly summarise what the possible CCA issue is with these NR/NRAM 'Together Loans'?

 

I have TWO(!) of these - one in respect of a previous mortgage, and one relating to the current mortgage. Although these were taken out in joint name with my former wife, she has subsequently declared herself bankrupt, leaving me responsible for the total debt (mortgage+'Together Loan 2', plus 'Together Loan 1' from the earlier mortgage). Although I now intend to sell the property, there is very little equity in the property and, anyway, there is another charge on the property in respect of a Lombard Direct Loan (although I am ust about to start a new thread on this subject).

 

Any information regarding these 'Together Loans' would be gratefully received.

 

Many thanks.

 

Jools

[MrZ]

So when they decided to try to repossess my home over the xmas holidays a few years ago, I found CAG and started fighting back.

 

In a nutshell this is what my fighting has revealed.

 

NRAM have ZERO agreements for any of my 4 loans with them.

 

1-Mortgage

3 other loans; both secured and unsecured.

 

They have agreements for none of them. I am current in my payments with no arrears. Any ideas on my options now?

 

Oh yes, last year got a letter saying my account was likely due redress. Got a second letter stating that the investigation is taking longer than expected (that's because there are no agreements i reckon), and that they would be in touch with updates.

 

I want to take them on. I know the options for the CCA regulated loans, but the mortgage and at least one other loan isn't regulated...not sure what the options are for those.

[pecky1]

Scottk

Please keep updated on how this is going might be usefull

 

Pecky1

[spamheed]

well I got my redress statements through on Friday and what a shambles it is.

 

Provides me with all of the annual statements from 2006 to date, gives me everything re: the mortgage which of course isn't covered by the cca and so unaffected by the NRAM statement issue, however the pile of paper they sent doesn't give any actual figures re: the amount my CCA loan has been redressed by, what was the amount of interest applied whilst they were non compliant, nor any other detail which might enlighten me as to my redress.

 

So I called them: atr first I got FOBBED, told that he had no idea and that he would pass it onto a colleague for investigation.

 

Called again a little later and got the one who was in possession of the on duty brain cell, after a lot of too-ing and fro-ing in answer to my question of why can't I just have my money back, the guy on the other end of the phone stated that I should be grateful because they weren't legally compelled to pay me anything - (I requested that he send me this in writing)

 

Apparently the actual redress made by NRAM is that the term of my loan has been reduced by 4 years or so, removing almost £3k from my loan balance, would rather have the £3k in my pocket

[ceiralennon]

well I got my redress statements through on Friday and what a shambles it is.

 

Provides me with all of the annual statements from 2006 to date, gives me everything re: the mortgage which of course isn't covered by the cca and so unaffected by the NRAM statement issue, however the pile of paper they sent doesn't give any actual figures re: the amount my CCA loan has been redressed by, what was the amount of interest applied whilst they were non compliant, nor any other detail which might enlighten me as to my redress.

 

So I called them: atr first I got FOBBED, told that he had no idea and that he would pass it onto a colleague for investigation.

 

Called again a little later and got the one who was in possession of the on duty brain cell, after a lot of too-ing and fro-ing in answer to my question of why can't I just have my money back, the guy on the other end of the phone stated that I should be grateful because they weren't legally compelled to pay me anything - (I requested that he send me this in writing)

 

Apparently the actual redress made by NRAM is that the term of my loan has been reduced by 4 years or so, removing almost £3k from my loan balance, would rather have the £3k in my pocket

 

I am exactly the same, I have officially complained about method of redress so I know what answer will be, simple no, the of the fos I go, I have had advice and only way is for a Judge to decide if they pay u directly. Lots of us on money saving expert forum in thread Mse news northern rock gaffe pay 270 million - check that out, it ha has over 100,000 views and my user Id is lennonc1 join the crusade. Where in country are you as class action seems a good idea!!!

[pecky1]

had my statement knocked off nearly £4K couldnt even understand the statement.

Pecky 1

[davyatsea]

Hi there, Skimming through all this has highlighted some issues that I have had with NRAM. Last year, I applied to port my mortgage and move to a larger property. I was agreed in principle on the basis that my overall debt would reduce. The intention was to relocate from the south coast to a cheaper area, thus enabling me to buy a larger house, and reduce the mortgage debt. NRAM stated that there would still be a shortfall of approx £1K (work that one out - property purchased in 2006 for 119K, now worth 130K. Original Mortgage 104K+unsecured of 30K). NRAM said that maximum property value I could port mortgage to would be 100K, with me providing the shortfall of 1K, plus the application costs. Without the unsecured loan, I would actually have some equity, but the noose around my neck stops me from remortgaging (along with an IVA due to finish Sept this year, but thats another story.

 

Relocation has gone belly up, so we're looking at another option - renting to housing association and we rent another property for ourselves (thus staying on the swaying property ladder). However, NRAM say we cannot let to housing assoc, and are VERY unhelpful in advising us on way ahead. We've heard nothing about any redress from unsecured loan. We def think we have been missold by financial adviser, but not sure of way ahead. I'll definetely keep an eye on this one, and would welcome any class action against NRAM.

[ceiralennon]

I would urge you to check out this thread from the beginning, unsecured loans over 25k are not affected but say are covered by cca, I also have another thread from class action. The more we sign up for a super complaint then fsa and fos have to do something about it.

 

http://forums.moneysavingexpert.com/showthread.php?t=4339593&page=55

[GothBoy]

I would urge you to check out this thread from the beginning, unsecured loans over 25k are not affected but say are covered by cca, I also have another thread from class action. The more we sign up for a super complaint then fsa and fos have to do something about it.

 

http://forums.moneysavingexpert.com/showthread.php?t=4339593&page=55

 

I have to view MSE in small doses I'm afraid, my blood pressure can't cope with the amount of self righteous morons it attracts

[ceiralennon]

I know lol, has some good info tho!!

I will post more when I have it but I am passing my complaint to fos today so now have to wait I suppose! But one thing is for sure, I will not be dictated to by Nram!!

[GothBoy]

I haven't put a complaint into NRAM yet because I'm trying to sort out an issue with the DWP underpaying my interest so want to wait until that's sorted then I'm going at them both guns!

[ceiralennon]

Yes do that!! I have spoken with head of legal at ukar and advised to put in email to him, he seemed ok, didn't really know his ass from his elbow tho, he didn't understand it was part of mortgage deal 'together' mortgage. But explained that it was far better to accept redress on loan as it benefits us much better. I wanted to know where in law does it state company decides redress method, he couldn't answer and asked for it in email!!

[jhill]

Hi, we have a NR Together Mortgage with £30k unsecured loan which states it is regulated but NRAM say is not. I have lodged my complaint with the fos and so waiting for someone there to call me.

 

Question: Has anyone hear heard back from the fos regarding how these "regulated" loans are infact "unregualted"?