Important information about NRAM CCA regulated loans
Please note - in respect of loans taken out before 6 April 2008, the CCA regulations only apply where the amount we agreed to lend you (the amount of credit) was £25,000 or less.
In 2012 we reviewed the communications that had been sent to customers holding secured and unsecured loans that are regulated under the Consumer Credit Act (CCA).
Our review highlighted that some of these communications did not comply with all the requirements prescribed by the CCA. Certain paragraphs of mandatory wording were written incorrectly in a range of documentation that was sent to customers, and information about the amount of credit was not included in account statements.
We have written to all affected NRAM customers, providing specific details about the impact on their loan account which may include the amount of redress, revised monthly payments and revised term end date if applicable.
You can find more important information in the following sections: