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Black Horse extended term

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Hi new here so be gentle!!

I took out a Loan in August 1999 with then Cedar Holdings over 180 months.

This was later transferred to Black Horse. The Loan was secured on my home and I have never had a late payment or missed any payments.

This weekend I remembered I was still paying the Loan and dug out the paperwork and with my minimal maths skills I worked out it should have finished last July.

I have just got off the phone with Black Horse and although they tried to fob me off they were scrambling for an explanation.

There explanation is that on our original documents we signed the forms agreeing to them being able to vary the term, but this agreement was with Cedar Holdings and I have the original paperwork and there is no mention of being able to extend the term only the interest rate. I explained that I had the original paperwork and this stopped them in there tracks. They then said that they had a letter signed by me in 2008 saying I had agreed to the change in term (I have not signed any form) They said the term had increased because of an interest rate change, which yes my payments went up from that date, but are they implying that they have back dated the rate back to 1999? even then it only works out 3 extra months and how would they be allowed to do that without my written consent.

When I said I had not had any correspondence to that effect they again started mumbling. Now they are saying they can do it as it is in my terms and conditions.

I explained that I am not happy and wanted a full explanation from them. they replied that the loan ended next month, but being the wag that I am I said yes but not if you decide to increase the term again!!

Finally they asked what I wanted to happen to resolve this issue and they will call me back later today.


This is where I need help. Have I got any basis to ask for compensation or are they entitled to at will alter my term without informing me.

Edited by citizenB

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You are going to need to send BlackHorse a Subject Access Request (SAR) for a full and detailed history of the account.

Template SAR Letter is in the Library section above on the top toolbar, the SAR will cost you £10 Postal Order but you get back all information including letters, agreements, internal notes & statements.

It can take up to 40 calender days.


You said that you have your original documentation, BlackHorse cannot change the terms unless informing you first in writing, also the Loan book was transferred to BlackHorse with existing rights attached so your repayment should have been unchanged unless you wrote and asked for the payments to be amended.

Also, calculate all of the repayments with your bank statements, this should match your paperwork from Cedar Holdings.



NEVER telephone a DCA

If a DCA rings you, refuse to go through the security questions & hang up!


If I have helped you, click on the star & say thank you

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