OneSavings Bank transfer - FAQs

Important Facts and Frequently Asked Questions about the transfer of your loan account.

Who owns my loan now?

On 10 February 2014 your loan was sold and transferred to OneSavings Bank plc (under the trading name Kent Reliance). From the date of transfer OneSavings Bank plc became responsible for the servicing of your loan.

Who are OneSavings Bank plc?

OneSavings Bank plc is a fast growing UK bank with a balance sheet of over £3bn. They make loans and provide savings and bonds through their Kent Reliance, Interbay, Prestige Finance and Reliance Property Loan brands. They deliver consistently high satisfaction scores and enjoy long term relationships with their customers. You can find more about OneSavings Bank at osb.co.uk and Kent Reliance at KRBS.com.

So how does that affect me?

On 10 February 2014, your loan was transferred to OneSavings Bank plc and they are now responsible for the ongoing management and administration of your loan, including any communication relating to your loan. They have full entitlement to receive the repayments you make to your loan.

If your loan has been repaid in full, you need take no further action.

Why did NRAM sell my loan to OneSavings Bank plc?

In accordance with NRAM's long-term strategy to manage its closed mortgage and loan portfolios, NRAM will consider selling parts of the mortgage and loan portfolios if it is in the best interests of the taxpayer. NRAM sold part of its unsecured personal loans portfolio to OneSavings Bank plc and the proceeds of this sale have been used to directly repay the NRAM Government loan.

What if I have more than one loan with NRAM?

You will have received a separate letter for each NRAM loan that was transferred to OneSavings Bank.

Please note: not all your NRAM loans will necessarily be affected - if you did not receive a letter for any of your other loans, they were not transferred to OneSavings Bank plc.

Will I receive any other communications from NRAM?

From 10 February 2014, all future communications regarding your loan, including your loan statements, will come directly from OneSavings Bank plc instead of NRAM.

Will my Terms and Conditions change as a result of this transfer?

There will be no change to the current terms and conditions of your loan as a result of this transfer to OneSavings Bank plc.

Will I need to change my payment details?

In your welcome letter from OneSavings Bank, you will have been advised what changes are required for you to make your payments to them.

Will my current Arrangement To Pay (ATP) be maintained?

Yes. There will be no immediate change to your currently agreed ATP as a result of this transfer.

Please note: however, that from 10 February 2014 OneSavings Bank plc will be responsible for all administration and communication relating to your loan and may want to discuss your current ATP to ensure that it is appropriate and affordable for you.

Do I need to contact my Debt Management Company (DMC) or Insolvency Practitioner / Trustee in Bankruptcy?

Yes. NRAM no longer have an interest in your loan as a result of the transfer to OneSavings Bank plc. Your current DMC or Insolvency Practitioner / Trustee in Bankruptcy will need to know this to ensure your details are accurate and up to date. Please advise them of the sale and transfer of your loan and subsequent change in interest to OneSavings Bank plc.

Do I need to contact my Payment Protection Insurers (PPI)?

You may need to because NRAM no longer have an interest in your loan as a result of the transfer of your loan to OneSavings Bank plc. Your current PPI company will need to know this to ensure your details are accurate and up to date.

Please note: if your PPI policy is with Pinnacle and was arranged by NRAM, OneSavings Bank plc will inform them of this transfer. If however your PPI policy is with another provider then please advise them of the sale and transfer of your loan and subsequent change in interest to OneSavings Bank plc.

Do I need to contact anyone regarding the charging order on my loan?

No, you do not need to take any action. OneSavings Bank plc will be responsible for the ongoing administration of your loan.

Who should I contact for Customer Service?

With effect from 10 February 2014 Kent Reliance will deal with all enquiries regarding your loan. Please direct all enquiries to their Customer Service Team as follows:

Kent Reliance
PO Box 581
Rotherham
S63 3FS

Tel: 0333 003 7220* (lines are open from 9am-5pm Monday to Friday)

* Calls may be monitored or recorded. 0844 & 0845 numbers may be charged at a higher rate than local and national calls and will vary between different providers. Check with your provider.

How do I make a complaint to NRAM (including PPI)?

You can make a complaint in several ways:

In writing to:
Customer Relations
NRAM Mortgage Operations
PO Box 625
Durham
DH1 9JJ

By calling our Customer Relations team on 0330 159 9610*. We are available Monday to Friday from 8:30am to 6pm.

By e-mailing: customerrelations@n-ram.co.uk

If you need our response in another format such as Braille, large print, audio or interpreter services, please contact our Dedicated Team in the following ways:

Telephone: 0330 159 9610* (8:30am to 6pm Monday to Friday)

In writing:
Disability Awareness Team
PO Box 625
Durham
DH1 9JJ

By e-mail: disability.awareness@n-ram.co.uk

* Calls may be monitored or recorded. Charges for calling 03 numbers are the same as for calls made to standard UK landline phone numbers starting 01 or 02. Calls to 03 numbers are also included in bundled minutes and unlimited call packages in exactly the same way as regular landline numbers.