Northern Rock excess mortgage interest claim?

Northern Rock excess mortgage interest claim?

11:17 AM, 30th January 2023, About 2 years ago 5

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I have come across a Northern Rock excess mortgage interest claim being started by Harcus Parker. Although they have not yet had High Court permission to pursue the claim, if it proceeds they say it will be on a No Win No Fee basis.

Their fee will be 35% plus VAT (although their paperwork also says that their fee cannot exceed 50% inc VAT – which is not clear), with disbursements being additional. Whilst this sounds high to me it`s something I wasn`t expecting anyway so it`s still a bonus.

Has anyone any knowledge of this or of Harkus Parker, or knows of another firm doing the same for a lower fee etc?

I had a residential mortgage with NR but didn`t know whether they were also offering BTL mortgages?

https://claim.mortgageprisonersclaims.com/

Grahame

 


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NewYorkie

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11:35 AM, 31st January 2023, About 2 years ago

Check that Harcus Parker has at least one UK registered solicitor who will 'own' the litigation throughout. It will be years!

Lynne

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13:21 PM, 31st January 2023, About 2 years ago

I have also received same Northern Rock excess mortgage interest claim being started by Harcus Parker.

I have signed the papers as it is worth is the claim goes through.
I had a mortgage with northrock and today on very high rate and struggling to move the mortgage to another lender as the administrator who are heliodor are charging over 6%

JB

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16:22 PM, 31st January 2023, About 2 years ago

What is the 'Northern Rock Excess Interest Claim'?
I am having a bit of a dispute over interest payments from one of my mortgage providers. When switching from one fixed rate to another, with a bit of SVR in between, they don't seem to be able to explain their calculation, which I think is incorrect.
They have admitted their calculation for the DD on the new fixed rate was incorrect 'after running some system checks an error had occured resulting in higher payments'.
Hands up who's examined their mortgage statments thoroughly and understood what their mortgage provider is up to?

Gary BTLowner

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9:35 AM, 5th February 2023, About 2 years ago

Reply to the comment left by Lynne at 31/01/2023 - 13:21
Hi Lynne
I also thought that something is better than nothing when I first read it. But on reading the small print it seems I will also have to pay disbursements ABOVE the commission, and I am concerned this could mean me paying out more than I get back. Beware. Have a read.

NewYorkie

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10:21 AM, 5th February 2023, About 2 years ago

Reply to the comment left by Gary BTLowner at 05/02/2023 - 09:35
In any significant group litigation, disbursements will be covered in the fee. The lead law firm(s) will obtain ATE insurance to cover costs other than disbursements. This will be contingent on the insurer's view the chances of success. Disbursements in a case if this nature will be large!

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