As most people following this blog will know, im focused on NRAM at the minute. There has been an interesting development though which seems to suggest we are on the right lines with our approach.
I have been advised that NRAM via their lawyers have been in touch with this person advising them that they are willing to settle a complaint that had been raised a long time ago. The only issue is that the amount offered is woefully short of the amount that they should be offering. Certainly that’s how it seems based on the information provided.
Now its certainly a good tactic, to try and settle now before the consumer actually gets wind of what their claim is truly worth. The issue also is if the case is settled then the settlement is likely to give up all other rights to bring a complaint, and it is likely to be all that is recovered. So in short, the settlement could leave the customer out of pocket.
My view is that if anyone gets contacted with an offer of settlement of an old dispute, take a long hard look at the offer and if necessary get some advice, id rather sit down with a customer and go over their case to be sure that they are getting the right settlement, rather than have someone settle for say £5k when the true value of the Claim is actually £20k for example.
But none the less, its a good positive step, and if NRAM do the right thing then the customers will benefit.
Anyone with an NRAM Together mortgage feel free to get in touch either to firstname.lastname@example.org or to my email directly at email@example.com and id be happy to go over the case.