Customers whose loans with NRAM have now ended

Information for customers who previously held a CCA regulated loan with NRAM.

What happens if my loan with NRAM has ended?

Our reviews of customer communications covered all loans which are CCA regulated, that were taken out with the former Northern Rock plc, or NRAM, at any time - including those which had been redeemed for any reason. We have now written to affected NRAM customers.

In the case of loans taken out before 6 April 2008, the CCA only applies where the amount we agreed to lend you (the amount of credit) was £25,000 or less.

What was the impact?

If we have found that you were sent any communications that did not comply with the requirements prescribed by the CCA you may be entitled to redress.

Because your account has redeemed (ended), any applicable redress reverses the consequences of charging you interest during the period of non-compliance - we do this by sending you a cheque for an amount equal to the interest that you were charged over this period or by reducing any shortfall amount still outstanding. If any default charges were applied to your account during this period, these will also be included in any such redress.

We are writing to all affected customers in May/June 2015 with full details

What should I do now?

There is no need for you to do anything at present as we are writing with full details to all affected customers in May/June 2015.

However, if your address has changed since your account with NRAM redeemed, please call us and we will update our records. Contact us on 0330 159 9626* Monday to Friday from 8:30am to 6pm.