Before December 2015 Swift Sterling, Pounds Till Payday and My Money Partner were trading names of Northway Financial Corporation Limited, a Maltese company.
In 2016 these brand names were bought by a UK company called MMP which went into administration in December 2019.
When were your loans? This affects who to complain to
If your loans were before December 2015
Then you need to complain to Northway about them. If that doesn’t resolve your complaint you can’t go to the UK Financial Ombudsman, you have to go to the Maltese authorities.
The Financial Ombudsman won’t look at complaints about loans from the Maltese lender
The comments below show how other people have got on. SoO far as I am aware, these complaints are now being rejected as too old (“time-barred”) in Malta.
No-one has received a refund or a write off since mid 2019.
If your loans were after December 2015
This is NOT the right page for you, it only covers complaints about the earlier Maltese lender.
Your complaint is a normal payday loan affordability complaint in the UK.
You would have been able to go to the UK Financial Ombudsman, but now MMP is in administration, all claims have to be sent to the administrators using the Claims Portal.
All questions about the administration and these later loans should be asked on the main payday loan refund page.
Why can’t you take these complaints to the Financial Ombudsman?
Both Swift Sterling’s and Pounds Till Payday’s websites said in 2015 in their Complaints Procedures:
“At this stage, if you are dissatisfied with the delay or we have not been able to sort out your complaint to your satisfaction, you can escalate your complaint to an external body (see below).
Step 3 – If you remain dissatisfied
It is important that you give us the opportunity of addressing your concerns first before escalating your complaint as they will only consider your complaint after we have had the opportunity to sort out the matter under our internal complaints process.
You may ask the Financial Ombudsman Service to review your complaint. You should contact the Financial Ombudsman Service within 6 months of receiving our final response letter. Their details are below: [full address and email details for the UK Financial Ombudsman]”
One reader has received the following reply from the Financial Ombudsman:
“Unfortunately Pounds till Payday don’t have offices in the UK and as a result we are still unable to look at complaints about them. As you said below, their offices are based in Malta and they are regulated by the Malta Financial Services Authority. I’m sorry their website seems to suggest otherwise… I agree this is misleading borrowers.“
So if you wanted to complain that one of these lenders gave you a loan that was unaffordable, you have to go through the Maltese regulators, not UK processes. But in 2019 these complaints were being rejected as too old – the legal term is “time-barred”.
Was your debt been sold to Lantern (was called MotorMile Finance)?
Swift Sterling and Pounds Till Payday have sold many defaulted debts to the UK debt collector MotorMile Finance (MMF), which changed its name in 2018 to Lantern. In November 2016 the FCA has made MMF offer a redress package to many customers because of poor way it has handled debt recovery.
Claims against Lantern can only relate to the defaulted debts sold to them.
Comments on this page are now closed.
Tim says
Having had a read through the European CCD
Article 24 Out-of-court dispute resolution
1. Member States shall ensure that adequate and effective outof-court dispute resolution procedures for the settlement of consumer disputes concerning credit agreements are put in place, using existing bodies where appropriate.
2. Member States shall encourage those bodies to cooperate in order to also resolve cross-border disputes concerning credit agreements.
Thoughts? Obviously this is not the case in Malta!
Louise says
Hi All,
Just to update “Northway are current discussing my counter offer and should have a reply in the next few days” I am still trying to find out if there is anyway else I can take my complaint and the credit agreement states that it’s governed by English Law so I’m hoping if they say no then there are other options. I will keep you all updated
Tim says
Hi Louise,
I actually emailed the FSA about this, how Northway stated English Law in the credit agreements but are now disregarding this with no repercussions. I asked who would be accountable for the failings in this country by issuing a credit license to a company who can be so unaccountable. They pointed me to the FOS to speak to since the OFT issued the license but no longer exist. I am actually going to look at whether the FOS can look into it due to the English Law part, if they can rule and i can then go to court and have it applied to Northway through the Brussels Regime. Either way i have now referred to the FOS.
Also I have contacted the Financial Arbiter in Malta regarding this. Firstly explaining what Northway are doing when the Credit was governed by English Law which allows the 6+3 complaint period. I then pointed out the failings of Malta as a member state regarding the European Credit Directive, the lack of supervision of Northway or sanctions in place. Lastly I pointed out Article 24- out of court dispute resolution-
1. Member States shall ensure that adequate and effective outof-court dispute resolution procedures for the settlement of consumer disputes concerning credit agreements are put in place, using existing bodies where appropriate.
2. Member States shall encourage those bodies to cooperate in order to also resolve cross-border disputes concerning credit agreements.
To me this is the ultimate failure of Malta, I asked how effective it is that the MFSA has now power regarding its decisions and Northway can, and are disregarding their advice. I then asked that why was my complaint rejected by the Arbiter when they do have the power to enforce decisions. The Arbiter do meet the requirements of article 24 but in denying my access to it they are entirely failing it.
I asked the Arbiter what their views were on this and how they intend to handle the situation, will they be allowing us to take the complaint to them? And I stated I will be highlighting to the European Parliament through my local MEP the failings by Malta to implement the correct supervision and availability to cross border out of court resolution.
SO when i receive a reply i will let you know. I know it is a bit disjointed but i think this will need pushing and escalting and exposing as high as possible.
cheers
Tim
DDownie says
I received an initial acknowledgement back on the 18th of October from Northway, but since then nothing. I have emailed complaints@northwayfinancial and info@northwayfinancial and am getting nowhere, not even an automated response. Does anyone have any suggestions?
Duane says
They have either blocked my email or just disappeared as I’m not getting anything from them. I’m not giving in though and gonna fight it as far as I can
Tim says
Hi Duane,
Do you have a complaint in with the MFSA currently? This may be one reason. That said i only ever got two emails over 4 months in comparison to 15-20 sent.
I emailed them also today, advised them that i am aware of the actions that they are taking re time barring and that Im highlighting/escalating this with the Financial Arbiter, Maltese Parliament and the European Parliament along with the the Maltese small claims court. Basically told them i wont be accepting any of the antics and should they wish I will be willing to settle for 65% of my total claim now.
I highly doubt that they will reply or accept my proposal so ive already started the ball rolling and emailed all of the above last week.
In it for the long haul now. Their behaviour and the failings of the MFSA to protect consumers from Northway’s practices will be escalated and escalated and chased and chased until action is taken.
Keep at it.
Tim
john says
Hi.
I took out a loan with cash genie and swift sterling two years ago. I got into more debt and eventually got a debt company to help, valour. They have since finished trading and left me to sort this out. I found out that mmf have Taken over my cash genie debt and that swift sterling has sold my debt to northway. I have not heard from eithier of these company’s. I have set up an arrangement with mmf for cash genie but not heard from northway despite e mails. Have I done the right thing. I am worried I am going to get scammed ready all this!? Kind regards
Sara (Debt Camel) says
oh what an unfortunate list of companies to pick…
Swift Sterling is a brand name of Northway as the above article says. If you have a balance outstanding, I do suggest putting in a complaint to Northway, it may not be fast to resolve (to put it mildly) but they may well write it off even if you can’t get a refund.
Cash Genie are in administration but it is worth making a complaint. Any problems ask the Ombudsman what you can do.
Valour … your debt plan with them must have ended a couple of months two ago? Have you “transferred” to Clever Law? If you have, read this https://debtcamel.co.uk/debt-clever-law/ and think of cancelling your agreement with them and switching to someone like StepChange that won’t charge you and is authorised by the regulator.
john says
Hi. Thanks for your reply. I cancelled clever law and paid a final fee of 39.99 as I thought I can do all they can myself. I have called my list of creditors, pra group; wage day advance and to be fair they were reasonable in accepting a monthly offer . I will now e mail north way again and try and find out if they have my swift sterling account. Also I will contact mmf with regards cash genie. If companies swap these accounts without the clients knowledge is this fair? Never recieved notice through the door, by e mail nor did valour/clever law tell me.
Sara (Debt Camel) says
You should have received notification from Cash Genie that your account was being sold to MMF. You can ask Cash Genie to supply this.
john says
Hi again.
If it is possible to ask for a refund or cancelling the debt about being missold additional loans in the past is there any direction I should take?
Sara (Debt Camel) says
There are template letters here: https://debtcamel.co.uk/payday-loan-refunds/. Adapt those and send them to Northway. Then go to the Maltese regulator after 8 weeks if you don’t get a reply from Northway. Don’t expect speedy results!
Tim says
Hi Sara
I wondered if I could pick your brain.
I contacted the FSA about Northway regarding the fact they were were issued a consumer credit license (turns out by the OFT) in this country but we consumers have been exposed to a situation where we have no real course of complaint or recompense. I wanted to discuss how they could be licensed to issue loans in this country, stating that they are governed by English Law and subject to the CCA however when it comes to complaints there is nothing that these bodies in this country can do. They exposed us to a bunch of crooks and then effectively have said, you’re on your own. I stated how the MFSA are trying their best but are effectively powerless since Northway can and are ignoring their recommendations.
Anyway the FSA stated that they were licensed by the OFT (no longer operating) and that any complaint should be directed to the FOS.
I contacted the FOS about this, more for a discussion and hopefully some advice. The FOS stated the below:
‘At this stage we are able to progress your complaint forwards for an adjudicator to review this issue, but I would like to manage your expectation by confirming that after investigation, they may reach a similar outcome that the business does not comply with our guidelines because they are outside of the United Kingdom.’
In effect, the FOS are saying I can complain to them but that Northway may ignore them.
I am just wondering, could i go through the whole Ombudsman process here, get a final decision by an Ombudsman and then look to get that enforced in a foreign court? Im fully prepared to go to court over this, if I can get rulings from the MFSA and FOS in my favour then surely this can only help my case.
Many Thanks
Tim
Sara (Debt Camel) says
I can’t give any info I am afraid on how you would enforce a FOS decision in Malta. Most things are possible in theory in the EU (if we are still in the EU by that point!) but just because something is theoretically possible doesn’t mean that it is practical or cost effective for you to do this.
Tim says
Thank you for the reply Sara, I was thinking this too but one can hope.
I have however just sent an email to the Finance Minister raising my concerns regarding the practices in Malta and Northway Financial. Stating I am disappointed that the new Arbiter would not take my complaint on nor answer me when questioned on this. Also stated some of the underhanded practices that Northway are taking and the lack of respect being shown by them to the MFSA…..
Also copied in the CEO of Northway and the Chairman of the Board for the Arbiter, just so they are aware of my distress at this situation and how far I am having to escalate it.
Cheers for your time
Tim
Duane says
Guys keep perseveringly. I had a unexpected email from Northway after my persistent emails. I offered a settlement of 60% of interest that I paid and they have accepted in full and final settlement of my dispute. They were in reciept of the MFSA conclusion although that was never disclosed to me. In my bank within 2 days according to them. Nice Xmas surprise.
Louise says
I got the same email yesterday. I got all interest paid for my loans younger than 6years. Not the full amount the MFSA said but way more than £139 that they offered at first. I offered them that amount with the 6year rule in mind.
Duane says
I think they are coming to their senses and our constant pressuring them with a valid argument. I’m happy with what I’ve got and great to get it now just in time for Xmas
John C says
Well done guys, really pleased for you all. Bit gutted I accepted their offer, when clearly what they told the MFSA was a pack of lies, but I couldn’t take the hassle of the investigation anymore. That extra £5k would have been lovely. However I’m really excited for you all to get what you deserve back, and there is now a place that people can get advice to go after Northway in the same way
Jon says
Hi Duane, well done on the refund, your persistence has paid off! Apologies if I have missed it, but at what stage was your complaint when Northway made the offer, if you don’t mind me asking? Had the MFSA made their ruling on your case already like many others? Mine has been with them for a couple of months now and I’m awaiting their decision. Just trying to gauge if it’s worth going straight back to Northway now on the back of some positive results?
Tim says
Ah, I havent had an email from them yet : ( However I am really pleased for all of you on here, gives me some renewed hope.
Duane, Louise- out of curiosity, had you had a final response from Northway prior to this?
Well done guys. Hopefully this will see a change in the times.
Cheers
Tim
Louise says
Northway rejected my complaint then I took it to the MFSA and they upheld it but Northway refused to pay out. I sent them a counter offer based on what my CCA said and they accepted. Northway will try and wriggle out of it all the time but you’ve just got to be forceful and keep at it. Our credit agreements said they were covered by the CCA 1974 and English Law so I went in with that. Good luck hopefully u don’t get as much trouble as we did.
Tim says
Cheers Louise. My complaint has been going on since April but was referred back to the MFSA from the the Arbiter in September, I think similar to Duane. So pretty much the same process. I emailed Pauline for an update and she said that Northway have until Friday to reply to her findings (hasn’t told me what these are).
I emailed Northway a settlement amount about 10 days ago to which i had no response so i have chased up again today. Hopefully I will hear something positive in the next week then : )
Cheers
Tim
Duane says
Very similar. Didn’t want to speak too much until they paid which I’ve just checked my bank and they paid it today so at least they keep to their word on payment and terms – 1 or 2 days.
The MFSA had sent their findings to them and how to correct them things (their words) so I knew it was in my favour. That was Tuesday last week to which I sent them an email asking for 60 % of the interest paid. They emailed on Friday and said although they still dispute it they would be willing to pay in full and final receipt of the complaint.
Email below I sent them: ( I sent loads others before this stating why the 2 year rule would not stand up and the credit agreement argument)
Hi
As you will now be aware the Maltese regulator
has now concluded its recommendations regarding my complaint and been issued to you.
Several EU bodies are monitoring this situation and will act if Northway come back mentioning the 2 year claim period.
The total claim through the Maltese regulator should stand at over !!!! pounds, as I said however I am willing accept in full and final settlement of !!!! providing the transaction takes place inside 4 days from today.
Tim says
Ah that is interesting,
Pauline stated to me ‘The Unit’s feedback on your complaint has been sent to Northway on 25th and we gave them until the 9th December 2016 to come back to us with their views.’
She then states ‘Once investigation into your complaint is completed I will send you a detailed written report with the outcome. In line with our procedures, I am not able to provide you with a copy of our feedback at this stage.’
To me I read this that the MFSA have come to some sort of decision and are waiting to see what Northway respond with. No doubt the 2 year rule, i think I will continue to chase Northway for a settlement prior to this. I was quite happy to just wait but now there seems to be some movement i want it resolved and gone asap.
Well done though Duane, pleased you got a result.
Murph says
Hi Tim.
Northway are supposed to respond to the MFSA by today in my case as well. Did you email them again and have you heard anything from them?
James D says
Hi all,
Similar to comment on other thread I got email today stating the MFSA have concluded their investigation and sent findings to Northway and now are awaiting their response. My claim will be for c. £8.5k interest although only £2k of that was in the last two years from complaint date (May-16), fingers crossed but I suspect I will have to make a counter offer if they follow recent behaviour.
Regards
James
James D says
Hi all,
I got my final response from MFSA this morning – they agreed with my complaint and said I was due just under £12k, Northway have rejected the findings but as a goodwill gesture have offered £1.8k. I have replied with a counter offer (c.60% of the claim) and await their response – fingers crossed.
James
sarah l says
Hi ive just looked at the swift sterling website and it says to complain to the Financial Ombudsman in London still??
Sara (Debt Camel) says
That is because the website has been bought by a UK lender – I have no idea why they would want to buy this toxic brand but they have. But it is just the brand and the website they bought, so if you complain to them they will say you need to complain to Northway in Malta.
NickC says
They bought the database of customers as well I discovered after a subject access request.
Murph says
Tim did you hear from Pauline Tonna on Friday?
Tim says
Hi Murph,
I emailed her and got an out of office until this Wednesday so no chance of a reply. I highly doubt Northway will have replied to her.
Im emailing Northway almost daily now regarding the complaint and settlement and Ive escalated to as many different powers as possible in Malta but have not had a reply to anything. For whatever reason I reckon it is going to drag on now which is a shame since i was really hoping i would get this turned around by Xmas. As confident as I am in my claim, i still dont know what the MFSA have concluded so I might be being overly optimistic.
have you heard anything from anyone?
Cheers
Tim
Murph says
Hi Tim
I also got the out of office and I’ve also been emailing Northway. I’m also hoping to try and get this concluded by Christmas.
After Duane and Louise getting this resolved last week after emailing Northway I’d hoped they might be prepared to listen to offers to settle.
Cheers
Neil
Tim says
I hoped the same but I have had no response, even though it seems Northway had my information from the MFSA at the same time as when they made those settlements.
I’m hoping hoping hoping that tomorrow i will see some sort of movement when Pauline is back in.
Cheers
Tim
Murph says
Hi Tim
I take it you haven’t heard from Pauline today? I’ve heard nothing. After the experiences John C, Duane and Louise wrote of on here I’d kind of hoped the MFSA might have got their act together and at least communicated a bit better.
Murph
Matt S says
Well I’ve finally got an outcome I’m happy with. I was one of the group of us who all basically got fobbed off with this 2 year limitation rule last month. I’d paid around £1850 in interest to Swift Sterling and had an outstanding balance of £840. The MFSA suggested I receive a full refund minus the outstanding balance. Northway disagreed due to the 2 year rule however offered as a gesture of goodwill to write off the outstanding balance. I contacted Northway to tell them I didn’t believe that these loans were taken out under Maltese Law and so the 2 year limitation wouldn’t apply, and put a counter proposal to them that they write off the balance and refund me £500. They have today emailed me accepting this and told me I should have the money within 4 working days. Could have maybe pushed to get a full refund but to be honest I’m just happy that this will finally be at an end.
Tim says
HI Matt,
Out of curiosity, when did you raise your complaint with the MFSA?
Cheers
Tmi
Murph says
Matt
When did you email Northway with your counter offer and how long did it take them to acknowledge it.
I emailed them on Monday but have not heard anything from them.
Murph
Tim says
Hi Murph
I heard from Pauline today, after 3 emails. She advised Northway havent responded to her yet and she has given them until COP tomorrow.
I asked her if she could let me know what her provisional findings had been. At least I would have a figure to take to Northway and negotiate with, i doubt she will tell me. I think that is the frustrating part, we are kept so out of the loop.
Have you heard anything from her?
PS Matt, well done getting something back
Cheers
Tim
Karen says
No one has replied to my emails asking for statements of accounts or anything , what should I do ?
Tim says
Hi Karen
Have you made a complaint yet?
cheers
Tim
Karen says
Hi Tim ,
I asked for a statement etc but no reply whatsoever what do I do now ? I went over old bank statements and worked out 1800 is owed to me .
Tim says
Hi Karen,
If you have not made a complaint yet, get one in to Northway. You need to go through the same process as you would in the UK first- make a complaint then you can only escalate to the MFSA after 8 weeks or if a final response has been received.
Best of luck
Tim
Matt S says
Complaint was originally raised with MFSA back in April (I think). It went back and forth so many times that I didn’t think it was ever going to get anywhere. Then last month got the MFSA’s findings which were in my favour but Northway disagreed with and so that was pretty much the end of the MFSA’s involvement. I emailed Northway looking for a copy of the Credit Agreement on 16th November but had no response so emailed again last Wednesday (7th December) with my counter offer based on my thoughts that it was signed under British Law and they responded today accepting what I proposed. I emailed them straight away with my bank details and within 20 minutes they came back and advised it had been processed and should be in my bank no later than Monday 19th.
Murph says
Hi Matt
Has the money been paid into your account as promised?
I’ve tried to email Northway a couple of times, firstly on 9th Dec, but I’ve heard nothing yet. Did you use the complaints@northwayfinancial.com email address?
Murph
Martin says
Hi
I would like to make a complaint against pounds til payday I utilised their loans for 3 years 2011-14.
Please could someone recommend the best course of action.
Many thanks in advance.
DDownie says
I emailed Northway Finance as Pounds till Payday are no longer part of the same company. I did this both via the Northway Finance website and by their email address, I got an initial acknowledgement but then nothing for about 5 weeks to which they sent a reply regarding 1 of my payday loans saying they found that they were not at fault. I had taken out 19 loans which I re-loaned consecutively every month for 18 months of £400.00 a time so I think they are trying to pull a fast one! I emailed them back and also copied the email into the contact us form on their website with the date of each loan and when I repaid including amounts, that was 2 weeks ago and I have not had a reply since so I have emailed them again to advise I have contacted MFSA (which again I have emailed on their contact us form) with all the details. Just waiting to hear back from both and see where we are at.
Tim says
Another deadline ignored by Northway!!
Pauline at the MFSA has advised me that they now have until COP tomorrow to reply or she will issue me her findings on the complaint as final. No doubt they will now issue some holding message. Keep emailing them offering a 70% settlement of the amount claimed but have had no reply, probably 10 emails ignored in the last month!
Doubt it will be resolved this year which is a shame. Anyone else heard anything?
Cheers
Tim
Murph says
Hi Tim
Pauline emailed me with the same message.
I’ve also emailed Northway a number of times offering to settle for around 70% but I’ve had no response. I can’t understand why they responded to Duane, Matt and Louise but seem to be ignoring us.
Murphy
Tim says
I have no idea. Once I have Pauline’s email tomorrow with a definitive amount i will contact them once more regarding a settlement. I hope once there is a final response they will play ball in some way.
If not I am going to pursue the entire amount through the courts and contact as many people within the EU Parliament highlighting Malta’s failings regarding complaints handling, Northway’s disregard of the Consumer Credit Directive, the Arbiter’s refusal to take on my complaint among other things. I will kick up enough noise that someone will have to listen. I am sure there is some sort of discriminatory basis we can claim also if they have settled other complaints made on identical grounds.
Hope you hear something soon.
Cheers
Tim
Tim says
Northway have contacted me, they have made a settlement offer which was 40% of my claim and £2000 short of my original proposal.
I rejected this and offered to settle in between the two amounts, £1000 more than theirs and £1000 less then mine. There counter offer was an increase of £350 which is still far lower than i hoped.
I have gone back with an offer of 60% of the total claim- which is slightly less than my original compromise. This is in line with all of the settlements they have made so far so I hope they see this as fair.
If not im not sure what to do as im not happy at all with their offer, im thinking i may pursue it through the courts if i am honest and European Parliament for their clear breaches of policy.
Cheers
Tim
Murph says
Hi Tim
Good luck. Hopefully they see sense and agree to settle.
Murph
Murph says
Tim
When did you first email them with an offer to settle?
Murph
Tim says
Hi Murph,
Sorry for the late reply. I think i first started to pursue a settlement at the start of November.
Havent heard anything today which doesnt surprise me. Would really like this done with this week if possible, im hoping they see sense.
cheers
Tim
Murph says
Hi Tim
Did the 40% of your original claim equal the interest for the 2 year limit or was it more than that?
Murph
Tim says
None of my loans fell in the 2 year period. All were 4-6 years old.
I dont really know how they approached it to be honest but they dont seem to want to talk to me now. To this end I have emailed the MFSA, and asked if they see my compromise as fair and if so can they please speak to Northway. After all their role is to mediate.
As a small heads up, what was interesting is that after they finally did reply it showed through the subject line that my emails had been being marked as spam! This would explain the huge lack of communication from them as they simply are ignoring emails.
I was really optimistic last night this might still get resolved before xmas but am not so now.
Good luck
Tim
Joseph says
Good afternoon all,
I got an email from the MFSA today saying that they had upheld my complaint and that I was due £2,300 but Northway have rejected this and without admitting fault have offered a goodwill payment of £500 as a Final offer o settlement.
I assume the MFSA cannot force their Northway into accepting their findings? As such, i am thinking of reluctantly accepting this as it seems that Northway are free to reject any ruling from the MFSA, unless anyone thinks a counter offer is the way to go?
Cheers,
Joseph
Rebecca says
Hi
I am in a similar position, I don’t know whether to accept or not
Joseph says
Thanks Rebecca.
Does anyone have any thoughts on how to proceed? Disappointed with the very low goodwill gesture in relation to the refund indicated by MFSA but equally don’t want to ask for more and end up with nothing.
Any advice would be greatly appreciated.
Cheers
Murph says
Hi Joseph
Did you have any joy with Northway or did you have to settle for the £500 they offered?
Murph
Joseph says
Hi Murph,
I went back and said I would settle for £1000 as a final settlement but predictably heard nothing back. Will keep emailing them daily until they accept or tell me it’s £500 or nothing. Given the experiences of others I stated that it was a negotiation and not a rejection of their offer.
Thanks,
Joseph
Murph says
Hi Rebecca
What email address did you send your offer to as I cannot get them to reply to me?
Murph
Rebecca says
complaints@northwayfinancial.com
Murph says
Thanks Rebecca.
I emailed them several days ago on that address and have had nothing back as far as I’m aware. I did get an email from ‘Support’ titled ‘Consideration’ but I don’t know if it’s from Northway or not.
Murph
tim says
Hi All
Here is my position at present.
The MFSA found in my favour for over £5000. Northway originally offered £1500 and then £1850, I stated that I would accept 2400 trying to negotiate. They have since contacted the MFSA and stated I have rejected their offer, entirely not the case I might add.
So now Northway will not communicate with me over this, despite my attempts to agree to the £1850 which I am so loathe to do, the only other option is legal advice which I’m looking into.
Anyway I don’t know if I am going to get anything now, Northway have lied about my actions. Negotiation is hugely different to rejection. But I’m wondering if they are trying to use this to get out of paying.
Make your own choices with what you decide to accept but they are being off hand.
I have contacted the financial arbiter also and made a huge complaint to them that their refusal to take my complaint (their decision being legally binding) has cost me over £3000. I will be complaining to the Maltese parliament and European parliament about this.
Cheers
Tim
Murph says
Hi Tim
Sorry to hear Northway are carrying on like this but it seems to be happening to everyone.
I’ve been offered less than 25% of what MFSA has said should be refunded and my loans were all from 2012 to 2014. Even using the 2 year rule they’ve only offered 50% of what would be due and yet last month the likes of John C was at least offered a refund for all of the 2 year period.
Not sure what is going on.
Murph
Murph says
Hi Tim
Did you hear any more from Northway. They are totally ignoring my emails even after Pauline Tonna emailed them with my counter offer?
Murph
Murph says
Hi Tim
Did you hear back from the Arbiter?
Murph
James D says
Hi both,
Similar to you I had goodwill offer of £1.8k against a £12k MFSA calculation – I’ve rejected it and asked for a certain amount, no idea if that will work but due to the amount involved will try and pursue it anyway I can
Rebecca says
Hi,
They have just increased my offer by £175, I have gone back again asking for more but am now concerned by Tim’s comments below.
Rebecca says
I think I might accept, on their letter it does say its their final settlement offer, did anyone else get more after receiving this letter from them? The letter was an attachement on an e mail rather than in the body of the e mail itself.
James D says
Hi all,
I have not had any response to any email sent to Northway, other than an out of office over the Xmas break. I emailed the MFSA who would only confirm the email address to use was complaints@northwayfinancial.com. I don’t know what to do next – in response to MFSA Northway offers £1.8k as a gesture as they didn’t accept MFSA findings who said I should £11.9k.
Any advise welcome on how I can even get some contact with Northway.
Thanks
James
James says
Hi all,
I got a counter proposal of £3.6k against my claim of £11.9k – I’ve decided to take it as I can’t see them increasing it further.
Good luck to everyone else with their claims.
James
Matt says
Hi All,
Whilst I’m waiting for my other case’s currently on hold due to the 6 year ruling I’m going to start my process against PoundstilPayday (Northway Financial). They have sent me my statement of accounts and I can see that I’ve paid over £8k in interest alone and I’ve now lodged a complaint against Northway, obviously reading the above comments I’m in for a long wait but I need to know what my next steps are after the 8 weeks is up.
I’ve looked at the Maltese website but can’t find where I would lodge my complaint (http://www.mfsa.com.mt/), could someone tell me under which section I would do this or provide an email address?
Secondly I found “Northway Broker Limited” as a registered company on the website with a status of “Licence Surrendered Voluntarily”???….does anyone know what this means and if Northway Broker Limited is actually Northway Financial?
Thanks
Michellew says
I contacted Northway 10 weeks ago and only received an acknowledgement and nothing since. How do I go about complaining to the Maltese FO.
Thank you
DDownie says
I emailed the MFSA and they are now closed until 6th Jan… They have sent me a form to fill in but say they will not accept it by email it has to be posted. Seems like this may take some time!!!!
Murph says
Hi
Has anyone heard anything in the last few days with regards to counter offers you’ve made?
I made one before Christmas but have heard nothing.
Murph
Joseph says
Hi Murph,
Have you heard anything yet in relation to your counter offer? I’m the same as you in that I made one before Christmas bit heard nothing. They really are a disgrace the way they just ignore people.
Cheers,
Joseph
Murph says
Hi Joseph
I’ve not heard anything yet either.
I can’t believe they are able to carry on like this and also how toothless the MFSA appear to be. I’m being offered less than 25% of what the MFSA have told Northway to refund and yet they are able to get away with this.
Murph
Jon says
Hi Tim/Murph/Joseph,
Just wondering where you guys are up to with your complaints/counter offers now? I’ve just had a full and final settlement goodwill offer of 20% of the MFSA’s recommendation and am wondering what to do next? I know you were all in a similar position around Christmas time and i wondered if you had had any resolution or further correspondence since?
Jon
Simon Quinn says
Got this through today from the MFSA any one care to comment please feel free
“Good morning Mr Quinn
Reference to your email below.
I am still awaiting feedback and documentation – please refrain from liaising with Northway for the time being, once Northway come forward to provide responses, we shall analyse same, formulate our comments and pass on again for their position.
May I remind you that our Office cannot enforce any recommendation since we are neither a Court of Law or Arbiter.
Please be guided accordingly.
Thank you.
Kind regards,
Anna
Anna Cutajar Paris
Analyst
Malta Financial Services Authority
Notabile Road
Attard BKR 3000
Malta
Mark says
Hi guys, this morning I got an email from MFSA saying they had advised Northway to pay me £2600 in compensation. Northway have countered and offered me £1,000. For peace of mind, I have accepted. I have provided my bank details, anyone have experience of how long their payouts take? Thanks
Mark says
Unbelievably Northway have actually emailed me back to say its been transferred today (same day as decision!)
Db says
Hi everyone, I just had this back from MFSA, please can you give your views?
Reference is made to your complaint against Northway Financial and the trail hereunder.
May we remind you from the outset that, in the case of a consumer complaint, the MFSA’s recommendation is neither binding on the financial entity nor on the consumer. This means that the financial entity or the consumer, or both, may choose not to accept the MFSA’s recommendation. It is not the function of the Consumer Complaints Manager to act as an arbitrator in disputes arising between licensed entities and their clients. In the event that the parties do not reach an amicable and satisfactory arrangement, we recommend that they seek professional advice regarding their rights at law if they wish to pursue the matter further.
A brief outline of your complaint
You lodged a complaint against Northway referring to the numerous loans advanced during period 2012 to 2016, borrowing to the extent that you were trapped into a debt spiral, with the loan repayment taking a huge chunk out of your wages, borrowing again from Northway and other payday loan lenders such as “quick quid, pounds to pocket, lending stream, payday uk, payday express, my jar, THL, peachy and uncal Buck” to cover next month’s living expenses.
Our Investigation
We initiated communication with Ms Lyn Farrugia Gaskell, Chief Financial Officer at Northway, the parent company of Pounds till Payday. As is our procedure, we requested copies of documentation and communication directly from the firm as part of our investigation. Scrutiny of all documentation inclusive of the loan history sheet elicited our following observations
1. You were claiming having placed a complaint with Northway which had not been responded. He wrote in April 2016, June 2016, July 2016 and August 2016. The FOS highlighted this to Northway on 27 July 2016.
2. MFSA had mailed Northway bringing the complaint to their attention on 30 September 2016. Northway triggered correspondence with you presumably following intervention from the FOS. Northway reverted with you on 7 October 2016, apologising for the absence of a reply on their part of the complaint.
3. You were in default in August 2010, September 2010 and most significantly in February 2014. Indeed you were advanced a loan in March 2014 which appears to have been rolled over and which wiped away more than half the stated net income on 14 March 2014 when it was settled. However the last featuring loan found you incapable to sustain – you were featuring in arrears with other lenders in February, September 2012 and January 2014.
4. It is amply evident that you relied so much on short-term loans during the period under evaluation. Indeed loans had been advanced from 14 institutions including Northway. In 2013 you were also liaising with Experto Credite – a debt collection agency.
5. Information supplied from Northway is evidence that you advised them of your financial difficulty in April 2014 and in May 2014. At that point Northway reverted by removing default fee and suspending activity. Indeed you were deemed a default in February 2014 by Pounds to Pocket.
The outcome of our investigation
In the first instance you had claimed to have placed a complaint with Northway in writing in April 2016 and chasers thereto in June, July and August 2016. This complaint remained unanswered on the part of Northway and indeed the Financial Ombudsman Service (FOS) highlighted this to Northway on 27 July 2016.
We drew attention to the submission date by this Unit of the complaint on 30 September which transpires to have prompted a reply by Northway on 7 October 2016 as evidenced in correspondence provided. We deemed this approach not to be in line with clause 15.1.1 within the General Code of Practice wherein it is stated that:
“Members shall deal promptly and at an appropriate management level with complaints. Members shall establish a complaints procedure and furnish information on request about their complaints procedure. Customers shall be told what further steps are available if they believe that their complaint has not been dealt with satisfactorily by the member, including ultimate resort to the Financial Ombudsman Service”.
The loan history furnished was ample proof that during the period April 2012 until March 2014 you were relying incessantly on payday loans, with bank statements indicating that you were being advanced short-term loans from no less than 14 institutions (including Northway). Bank statements show that during some particular instances you were struggling financially to the extent of looking to pay off existing debt by seeking recourse to other payday lenders and to seek some comfort on his overdraft facilities with Lloyds.
Further to the loan history data, total amounts repaid on Swift Sterling loans given in August 2012, September 2012, April 2013, December 2013 and March 2014 are evidence of hefty sums that amounted to more than half of the stated net income, almost wiping it away.
It was disconcerting that a total eleven (11) loans were granted to you over a stretch of two years on the basis that your application was acquired as a lead and that only identity verification checks were done with no further credit searches.
Indeed had a credit search been conducted, this would have elicited that you were in default in August 2010, September 2010 and most significantly in February 2014 prior to his availing himself of a further two loans from Northway which ensued in March 2014 (one of which transpires to be a roll-over loan). Indeed you were incapable to sustain the last featuring loan of STG875 which was advanced on 15 March 2014.
You were also in arrears in February 2012, September 2012 and January 2014 and in 2013 liaising with Experto Credite which is a debt collection agency. These instances sustain the premise that the loan applications for the 11 loans did not go through a sound, proper and appropriate affordability assessment and credit vetting that ensured capability to repay the loans in a sustainable manner.
We also examined Northway’s licence conditions, specifically clause number 10 on page 7 of the attached document encompassing the licensing obligations of 2 September 2005, In terms of which Northway was duty bound to “… disclose and fully explain to the borrower the risks and potential implications of short-term borrowing and the consequences of the long-term use of such borrowing.” The loan agreement is not inclusive of such critical warning.
We were also aware that in three instances (15 August 2012, 15 September 2012 and 14 March 2014) no cooling off was afforded, infringing clause number 5 of Northway’s licence conditions. You were afforded further loans in breach of the relative clause imposing the duty that “once total indebtedness is paid in full on or after the due date, a one day ‘cooling off’ period shall be applied by the institution before it grants another loan to the same borrower.”
The loan agreement provided was lacking when it comes to delineating clearly the complaints procedure. Further it failed to provide reference to free and independent debt counselling organisations with debtors being encouraged to come forward if they were experiencing financial difficulties.
On the basis of the above and in the absence of proof from Northway that it had warned you of the risks of short-term borrowing and the consequences of the long-term use of such borrowing, compounded with the aspect of no allowing for cooling off and the absence of a prompt response to his complaint, we recommended a full refund of all the loan fees (amounting to STG2032.95) less the amount forgiven of STG782.33 which leaves a balance of STG1250.62.
Conclusion
In regard to the promptness of responses to complaints, Northway admitted a backlog had developed and apologised for the length of time taken for a response to be formulated.
In regard to the absence of provision for a cooling off period Northway sustained that it had acted in accordance with its licence conditions.
Northway iterated its position in regard to the prominent displaying of complaints procedure and credit counselling on its lending websites. Further the reply inferred to Northway’s lending policies and procedures that met the requirements of UK law with respect to credit assessments. Northway made us therefore aware that it disagrees with claims that it has acted improperly.
As a goodwill gesture and on a strictly confidential basis without admission of any fault or responsibility, Northway is willing- besides the previously forgiven balance of £782.33 (see attached loan history sheet) to issue a refund for a portion of loan fees incurred by you for an amount of STG275. Northway maintains that this represents a full and final settlement for this complaint. Should you be in agreement to this, a cheque for the above sum will be posted to you within twenty days of receipt of acceptance at the address
24 Cedar Hill, Ballynahinch, DOW, BT24 8XQ.
Alternatively, you may provide up-to-date bank account details and Northway will be transferring the funds directly into your bank account.
As a final note Northway confirms that there is no outstanding balance on your account.
Matt says
Just to update people. I’ve had a complaint on with Northway since June and have had time to get anywhere in terms of going to the MFSA.
I had some contact in December apologising for the delay and that they would repond soon.
Today had an email saying they’d taken back the unpaid loan that was with MMF and were willing to write it off.
I recon it’s about 25% of what I’ve worked out they prob would be made to pay.
Will think about it over the weekend.
VT says
I received an offer from Northway for £500 as a gesture (no accountability for error on their part). My interest plus statutory etc was well over £2k but like everyone else on here I have found them to do be one of the worst companies for correspondence plus the Maltese FOS added to the mix means this is a long process! I emailed back straight away to say that, i am keen to resolve this and would consider an offer close to my original valuation if they could up the offer etc. They have yet to reply, but am now feeling I should just have accepted as this is one i virtually wrote off as they have sent 2 emails in 8 weeks, one was the statements, the other the offer (today). When people have asked them to up the offer, how long does it normally take them to come back and either up it or say ‘final offer £500’? I am in 2 minds about this now and not sure whether i should have just accepted there an then!
B says
Morning all, had a bit of a result with northway today. They were told to issue refund of full charges of about £1300 but they disagreed and offered £275 as a good will. I went back and told them I wanted £500 and they agreed and the money has been paid the very next day. Please see there reply below.
I am informed today by our Northway’s liaison person that
QUOTE
Although we continue to disagree with the claims made, as a goodwill gesture and on a strictly confidential basis without admission of any fault or responsibility whatsoever, besides the previously forgiven balance of £782.33 on Mr B account, we are willing to increase the refund for loan fees incurred by Mr B to an amount of £500. This represents a full and final settlement for this complaint. Should the customer be in agreement, a cheque for the above amount will be posted to Mr B at the following address within twenty days of receipt of their
Alternatively, should Mr B prefer, he can provide up-to-date bank account details and we shall transfer the funds directly into his bank account.
We can confirm that there is no outstanding balance on Mr B account.
Jon says
Hi Sara/All,
I had the below response from Northway today – the MFSA advised they should refund me £3188 (all interest paid). Their offer represents approx 20% of this. I was initially turned down flat by Northway with no goodwill gesture in response to the MFSA findings and this is their full and final settlement response to my subsequent direct attempt to counter offer. ( i asked for 60%) Would appreciate any thoughts/advice on whether to stick or twist as i know some have had success in renegotiating and others have not, but i’m not sure at what stage successful counters have occurred?!
We acknowledge receipt of your email dated 23 January 2017.
We wish to clarify a couple of points.
Firstly, the two year limitation period relates to Malta regulatory orders and not to UK Court proceedings. As you have
noted, all credit agreements entered into with UK residents were expressly made subject to UK law. Therefore, if you
chose to bring an action in a UK Court, the claim would be subject to relevant UK limitation periods. Northway has never
disputed this point nor has it attempted to mislead anyone into believing otherwise. Any reference to a two year limitation
period by us or by the MFSA, on our behalf, would have been made in the context of your pursuit of a regulatory remedy in
Malta which is, as noted above, subject to a two year limitation.
Secondly, irrespective of limitation period, Northway has always maintained and continues to maintain that its lending
policies and procedures met the requirements of UK law, including the Consumer Credit Act 1974 and its associated
regulations. This point has been made by us numerous times but, in case it bears further repetition, Northway does not
agree that it did anything wrong under UK law and, in fact, it specifically denies that it was legally obligated to make any
refund to you whatsoever.
Although we disagree with the claims made as per the above statement, as a goodwill gesture and on a strictly
confidential basis without admission of any fault or responsibility whatsoever, we are willing to offer a refund for a
portion of the loaning fees amounting to £638.00. This represents a full and final settlement for this complaint.
Should you be in agreement, a cheque for the above amount will be posted to the following address within twenty
days of receipt of your acceptance:
linda says
Submitted complaint to Northway Financial 14/11 reply received today stating that loans were affordable and they have done nothing wrong. However due to my current financial position they will write off the balance I owe them of nearly £900.
sw says
I have today accepted 21% of the recommended refund from the MFSA and Northway have made the payment. Northway offered 16% and I made a counter offer of 40%. It’s not as much as I wanted but felt that dragging it out any further they may have withdrawn their offer of any refund. Glad to say it’s done and dusted now.
Murph says
I’ve also accepted a payment but I’ve written to them explaining I do not view it as a Full and Final Settlement and that I will contact the Maltese Finance Minister to find out how Northway can get away with ignoring every recommendation from the MFSA. I’m also thinking of bringing this to the attention of my MEP to see if they can be put out of business.
Jon says
Hi Murph,
Very frustrating isn’t it. Can i ask if you managed to receive any form of increased offer from them, or is the offer you accepted their first offer (full and final)?
Murph says
Hi Jon
They increased it by £50 which is a joke. Ended up getting around 25% of what MFSA recommended.
Murph
Pete Horgan says
Hi all,
Newbie to the stream, but have taken action against Northway and have today received a response. This has taken nearly 9 months to bring to fruition.
All told, MFSA told Northway to repay £1516. They have made me a goodwill gesture of £230 (some goodwill hey!!!). This equates to just over 15% of what they were instructed to repay. I think it’s quite clear from this stream that I’m unlikely to get anywhere near the £1,516 back, but does anyone have any advice as to what % level they think is a good level to counter with? I don’t want to send a level which is going to get rejected, but equally want to recoup as much from them as possible. I’ve seen a few people have a variety of success between 30-50% here so wondered if I should counter the offer with somewhere around 35-40%??
Thanks guys, keep up the good fight!
Pete
Pete Horgan says
Also, does anyone have any contact email addresses for Northway? I sent it to complaints@northwayfinancial.com and attached a delivered receipt to it – this is what I got back from their server :-
Your message has been delivered to the following recipients:
complaints@northwayfinancial.com (complaints@northwayfinancial.com)
Subject: ***SPAM*** MFSA Case Ref : 1**/2**6 – Mr Peter Horgan
Quite clear that they have a poor spam filter there!
Thanks
John C says
Pete, I think that have an excellent spam filter, it means they can ignore everything. It wouldn’t surprise me if they only had a junk box rather than an inbox. Unfortunately that is the complaints address
Danni says
I contacted them using my work email address (was previously using my personal email) and got a very prompt reply!!! Now awaiting a further response.
Danni says
I have now recieved an offer (which is ridiculous) from Northway so it might be worth contacting them from an alternative email.
Kev says
Hi. I’ve replied to northway to come to a compromise offer following there 20% offer to me which was way to low to close complaint but getting nothing from them. Does anyone have another contact e.mail other than complaint@northway i can try to get this complaint finished.(tried two of my e.mail addresses incase they had blocked my main contact one i was using to contact them)
Plus were the msfa off last week as i never got a reply from them either and when i rang them on friday it said office was closed.
Keep going guys and good luck to you all.
Hunki says
Can anyone advise me on the next step? All I got was the following then total silence;
“Dear Hunki,
We are in receipt of your email dated 30 January 2017 regarding your account with SwiftSterling.co.uk. We have attached a detailed loan history as requested.
Please be advised that Northway Financial Corporation Limited no longer owns SwiftSterling.co.uk. We are responding as we were the creditor for these loans.
Thanks and Best Regards,
Customer Support Department
Sent: 30 January 2017 23:59
To: Northway Financial
Subject: Fwd: Re: Statement of my Account
Please read the following I have been asked to forward to you.
Dear Hunki,
We have received your correspondence of 29 January 2017. Our records do not
indicate we have a file under your name in our database.
We wish to confirm that MMP Financial Limited purchased the brand Swift Sterling
and commenced lending in December 2015. As such, we are unable to refer to any
previous loan(s) you may have received from another lender. Requests for
information regarding any loans taken out prior to December 2015 should be
referred to Northway Financial Corporation Limited at the email address of
complaints@northwayfinancial.com.”
Who do I complain to next?
Hunki
MattB says
Hi All,
I’ve now settled my complaint with Northway Financial.
I emailed them yesterday from my WORK email address (as per an earlier post) and they acknowledgement my complaint and stated they had 8 weeks (they didn’t even acknowledge my complaint when i sent it from gmail or Hotmail email addresses a few months ago). This morning I received my final response and an offer of £1,250 for the loans going back to 2012 (which totaled 2), I accepted this at 11.09am and the money was in my bank account within the hour.
I had loans from 2009 to 2012 and don’t think i would have gotten very fair whith the loans older than 6 years so that was my basis of accepting.
julie egerton says
Hi Matt, I borrowed continuously with swift sterling from jan 2011 until may 2015 paying in full each month (which often was more than my salary). I often borrowed from other lenders to meet the re-payments. I believe I was mis-sold these loans. I emailed Northway asking for a statement and received it today. I was so shocked when I added up how much in interest and charges that I had paid 13,287, a heck of alot its no wonder I was in such a mess. Did you just deal directly with Nortway or did you have to go through the Maltese FSA. I would appreciate any advice you could offer, thanks Julie
MattB says
Hi Julie,
My loans went all they way back to 2009, I read somewhere on this post that the Maltese FSA don’t look at loans older than 6 years, so gave up on those loans and concentrated on the 2012 loans instead. thankfully I didn’t have to deal with the Maltese FSA. After I received my statements I lodged my complaint to Northway directly and they didn’t respond at all. I then read (further up this page) about there spam filter so sent the complaint from my work email address (not gmail or hotmail) and they replied straightaway confirming receipt my email. The next day I had an offer and they paid out. I was more than happy for this one to be written off looking at other peoples horror stories so was quite surprised by yesterdays outcome. Hope this helps
sw says
My total claim was for over £16,000, from 2010 to 2015, I ended up with £3,500 after a battle with Northway. Mine did go via the Maltese FSA and they agreed with the refund of over £16,000. Northway do not have to take this and can offer what they want. They offered me £2500, I went back with a counter offer of £7500 and they then offered £3500. I didn’t want to push my luck. I could have ended up with nothing. And all of this money is a bonus…..I paid it back at the time and thought nothing of it…I was glad to put this one to bed and forget all about it. It took me close to a year to get this resolution.
julie egerton says
Thankyou for replying , I have emailed my complaint to Northway today asking for a response witin 8 weeks. Fingers crossed
julie egerton says
Hi, I just wondered if anyone can offer me any advice as to where to go next. I borrowed continuously with swift sterling from jan 2011 until may 2015 paying in full each month which often was more than my salary. I often borrowed from other lenders to meet the re-payments. I believe I was mis-sold these loans. I have emailed Northway asking for a statement and received it today. I was so shocked when I added up how much in interest and charges that I had paid 13,287, a heck of alot its no wonder I was in such a mess. Does anyone think I have a case against them? and who do I contact about it? Do I just email Norway and if so what do I say? I would really appreciate any help you could give
Eddie says
Send them complaint email Julie but be ready for a long fight and don’t raise your hopes.
I complained in December last year they sent me a response yesterday offering £675 goodwill payment , I paid a £2700 in total in fees and interest, I went back and proposed they offer me 50%. I don’t have high hopes but you never know. Loophole here is that there is no government institution such as FOS in U.K. that can order companies to repay its customers if loans were unaffordable. MFSA can rule in your favour but it doesn’t mean Northway has to comply.
Send an email to addresses mentioned above and explain your complaint and circumstances and good luck.
julie egerton says
I emailed Northway yesterday to lodge my complaint giving them 8 weeks to respond before going to the MFSA. i receied the following email receipt from quarantine –
To: Quarantine
Subject: FW: PREVIOUS LOANS
Sent: Tuesday, February 21, 2017 3:49:51 PM (UTC-06:00) Central Time (US & Canada)
was read on Friday, February 24, 2017 10:33:25 AM (UTC-06:00) Central Time (US & Canada)
I had 2 of these emails just saying the same without my email address on them but sent to me. Has anyone else had read receipts from Northway saying QUARANTINE on them?
Karen field says
Hi I have sent several emails to northeast and have heard nothing back at all . I do have a new email now to the one they had when I took out the loans but have told them this . Please help as don’t know what to do now ?
alan says
looking for some direction
Northway Financial that have took over Swiftsterling have offered me today £625 after 10 weeks ago I complained. My complaint was also sent to the Maltese FOS who have all my statements and credit report etc but I feel that paying them £4000 in interest over 30 loans and in a period of 20mths is a good case to continue on and reject this offer but was wondering about the fact they are not in the UK
Greg says
After reading through this I have just checked back on my email that I sent to and I sent it to Swiftsterling complaints. I was wondering why I have had no response but I might have a lot to with me not having any loans with them but having several with Northway. I have now resent the email to the Northway complaints email that people were posting above, Asking them to just wipe my current debt with them that is in a DMP as it works out around a similar amount to what they would pay in a refund.
Lets hope they agree and it gets settled pretty quickly.
PM says
Hi,
After making several complaints direct to Northway since last May re loans I had with Swift Sterling, I still to date have yet to receive any acknowledgement of my complaint.
The matter is now with the MFSA, who have all statements, credit reports, and their complaint form duly returned.
Does anyone know how long it takes fro the MFSA to revert with their findings?
I had multiple loans with them from March 2014 – Dec 2014
Thanks
PM
Robert says
Dear PM & Bloggers
If I do not receive a reply from the Northway email complaint address, what do you advise?
Should I approach the MFSA?
If so where would I get their email contact address?
Many Thanks
PM says
Hi Robert
I sent my complaint to the MFSA at consumerinfo@mfsa.com.mt
They are quick to respond with the initial enquiry and what information they require.
What happens with their investigation can take 3 months or more depending on Northway’s response
To date, since my initial complaint last May, I have not had any acknowledgement form Northway
Like I said above the Northway email complaints address is bouncing back
Other than my agreed refund from Cash Genie which I have yet to receive, Swift Sterling are the only one I have yet to receive some form of refund from
Regards
PM
alan says
I have been battling with Northway for long enough now and have got them to increase their offer twice to £830 which is way short of the £3000 interest I paid but this is a different fight as they are in Malta and reading back I think i shall take this offer and be thankful
CC says
Hi I emailed Northway Complaints on 24/2/17 it didn’t bounce back, I have asked them for a Statement of my account that I had with them, not received a reply as yet, does anyone know how long I should wait before I contact MFSA?
Sara (Debt Camel) says
Have you actually complained? Asling for a Statement of Account is not the same as a complaint. If you have not made a complaint yet, get one in to Northway. You need to go through the same process as you would in the UK first- make a complaint then you can only escalate to the MFSA after 8 weeks or if a final response has been received.
Chris Williams says
I mailed northway about 6 times, between jan 17 and match 17, using different email addresses. Had no reply from hotmail and Google mail. But did from my bt one (eventually).
I used your proforma letter (thanks debt camel) and they offered me approx £1400.
Which I was happy with. But just to be cheeky I thought I’d make a counter offer of £1800. And to my surprised they increased their offer to £1600. Which I accepted.
Pretty happy now, considering I never thought I would get anything.
Just persevere people, it may take a while, but what have you got to lose.
Jon says
Hi Chris,
Well done! Can i ask what sort of percentage of your total claim that was please? Northway originally offered me nothing and then when i suggested i’d accept 60% of what the MFSA recommended they refund, they returned with a goodwill gesture of approx 20%. They have now upped that slightly to 25% after a subsequent counter offer. Now i don’t know whether to stick or twist as something is better than nothing. It’s niggling me that if they don’t have to abide by the MFSA’s recommendations, then why are they making any offers at all?
I too have had problems getting my emails to them even from my work address and have had to get the MFSA to forward on emails latterly.
HedKandiGuy says
Just had a response from the MFSA saying Northway have come back with an offer… MFSA found that I was due a refund of £3265.00, as a gesture of goodwill they will settle with a refund of £185.00 plus forgive apparently £423.50 that I still owe from 2010 (news to me)! As you can imagine I have emailed straight back saying its an insult and laugable, I will settle for £1400.00 and should they not be happy with this I will seek legal advise to recoup the full amount and I would also like to see when, how and where I still owe £423.50 as they have NEVER contacted me to say money was owing to them… Watch this space!
PM says
Hi HedKandiGuy,
How long the MFSA take to adjudicate – I sent my info to them last Monday so would be interested to know how long they took?
Thanks
PM
HedKandiGuy says
This has been on going since Dec, I had to send bank statements from Natwest ect… will give it another week to see if they have had a reply from the person dealing with the complaint at Northway.
PM says
Thanks HedKandiGuy,
I first complained to them last May!
I’ve had no acknowledgement form them whatsoever, and the emails are bouncing back
the MFSA have been pretty prompt.
like you I owed them nothing but probably to out c10k in loans over a 9 month period
CC says
I have just received an email today saying “We are in receipt of your email dated 24 February 2017 regarding your account with PoundsTillPayday.co.uk. We have attached a detailed loan history as requested.
Please be advised that Northway Financial Corporation Limited no longer owns PoundsTillPayday.co.uk. We are responding as we were the creditor for these loans.
Sarah – have you what is my next step please??
peter b says
Hi – I`ve had similar
We are in receipt of your email dated 24 February 2017 regarding your account with PoundsTillPayday.co.uk. We have attached a detailed loan history as requested.
Please be advised that Northway Financial Corporation Limited no longer owns PoundsTillPayday.co.uk. We are responding as we were the creditor for these loans.
Basically, I paid over £1600 in loan fees in total, over 1 year….
What is the process of involving the MFSA? Is there a template letter I send to them etc
Thankyou
CC says
Hi I have just gone on to MFSA website and used their online contact form to advise that Northway say they no longer own Pounds til Payday and I want to complain about unaffordable payday loans I took out with them. When I completed the message it said I would receive a reply in 3 days, so watch this space lol
Sara (Debt Camel) says
Northway are sending out a technically correct but not very helpful message to many people. It is correct they no longer own pounds Till Payday. But assuming your complain isn’t about very recent loans, Northway will still handle it.
Nigel says
I have had the Response from Northway Financial. They offered £385 as a goodwill gesture. I was laughing out loud. So I have been back to them Told them what I want in no uncertain terms. I have used a lot of the language that the UK FOS use along the lines of for ALL the loans my income was far less than my outgoings. Its all pretty black and white with them as they never did allow rollovers, so I have asked them for at least 6 x the goodwill gesture for me to settle. It will interesting to see if they respond or if I need to carry on with MFA. I had already been in touch with them as I never had an acknowledgement or response until now. I have the six years of Bank statements (courtesy of my UK adjudicator) and the Credit file and the form to filled in all ready to go now. Lets see what happens over the next few days.
SillyS says
Hi, help needed pls.
I borrowed from swift sterling back in 2014, I am unaware if this was a one off or multiple as I was in such a mess at the time.
SS did register a default on my credit file but this has since disappeared. I have now received a court claim form from Moriarty Law on behalf of MMF.
I have no idea what to do for the best.
I naively didn’t bother registering an affordability compliant with Northway as the default had disappeared. Any advise at this stage would be much appreciated . Panicking!
Sara (Debt Camel) says
Oh dear – how much is the claim for? Have a look at https://debtcamel.co.uk/court-payday-loan-debt/ and see the bit at the bottom about getting some legal help.
SillyS says
The original loan was £200, it the. Went to £318 and MMF began chasing. It is now £420 approx.
My partner hit the roof and made me contact Moriarty.
I do not dispute that the original loan existed but in hindsight I should have submitted an affordability compliant. I told Moriarty that I will be disputing, they agreed to request the CCA from MMF but they have also offered a discount to settle now I don’t really know what to do for the best.
Anyone else had this?
Nigel says
Update from Friday. Surprise surprise Northway financial came back with an improved offer this time its £450 as stated above still nowhere near and I have forwarded that offer on to the MFSA toadd to all the other info they have on this compliant. They are obviously worried otherwise why even offer a supposed goodwill gesture!
Garry says
How does it stand if Northway make an offer thru the mfsa?
mfsa have ruled in my favour for a refund of over 2k but northway have offered a goodwill gesture of £400.
Is it worthwhile to ask for an increased offer?
Garry says
I have emailed anyway to try and make contact with them but had no response at all.
I take it this is standard or does anyone have an email address that may engage Northway into some kind of contact?
Allison says
Hi ya, have you had any luck? How did you complain to the MFSA? Thanks. Allison
Garry says
Hi Allison,
No reply as yet to my email. Hopefully hear something today.
I complained to the mfsa by emailing them explaining i was looking to make a complaint. They sent me a form by post which I sent back to start the complaint.
Thanks
PM says
Hi,
Has anybody any idea how long the MFSA take to adjudicate, I’ve given up trying to contact Northway – being sending emails since last May, not one response. Have sent my completed documents to the MFSA over a month ago.
Regards
PM
Garry says
Think msfa took approx 3 months for mine.
It was them that advised me email direct regarding Northway’s goodwill gesture.
Seems a bit of a catch 22 now if Northway simply dont respond to any emails.
Damian says
Hi,
My case was reviewed and concluded in 7 weeks.
I complained to Northway on 23rd November 2016, regardless of few chasing emails they failed to respond and after 8 weeks I started putting together package for MFSA.
I sent my compliant with supportive information on 9th of Feb 2017.
On 14th of Feb i got email from MFSA confirming receipt of the complaint.
On 10th of March MFSA emailed me that Northway are willing to forgive my outstanding balance of £994.86.
Replied same day willing to accept £750 (some 75% of what I believed is due ) and write off of the balance.
30th of March got response from MFSA with conclusion in my favour – £1959.24 minus balance of £994.86 = £1023.38 should be refunded by Northway.
David says
I have had an offer of balance write -off and refund within 6 days of me agreeing to their final response, which I have, but refund hasnt been forthcoming yet.
They seem to be a very difficult company to get in touch with, but as well as the complaints@northwayfinancial.com there is also a web page contact here
All I can suggest is repeatedly trying them all.
PM says
Hi,
I’ve bombarded them with the same email for the last 3 days and have told them that I will stop until they respond.
Must have sent over 50 at this stage.
Regards
PM
David says
I’ve done the same. Same emails to info@northwayfinancial.com and enquiries@northwayfinancial.com, given to me by the MFSA. Have tried ringing Northway and cant get through (but that might be my fault, not used to ringing overseas!). Also wrote to them at their registered address in Malta, so will give them a few days and see if I get a response.
Failing that, I’ll start pestering the MFSA because its ridiculous that a company under their regulation cant be contactable, or so it seems.
Keep us posted if you get any success!
Damian says
Hi,
Has anyone tried to employ Maltese lawyer to take ignored MFSA decision?
I spoke with couple of law firms and now I’m exploring legal options with one of them.
I’ll post an update once I have more specific information from lawyers, including associated cost.
Allison says
Hi,has anybody had any luck with actually getting any money back? Damien did you get yours? Thanks.Allison
Damian says
Hi Allison,
Answering your questions:
I filed my complaint by post (cost me £5 to send it) after requesting copy of the compliant form via email above.
I haven’t received any money. Regardless of MFSA decision awarding me over £1k, Northway offered only write-off of the outstanding balance.
I now have some more information from a Maltese law firm and next step is to refer my case to the Office of the Arbiter for Financial Services, which will cost 25 Euros. According to the lawyer ‘The cases are heard relatively quickly’ and outcome is legally binding for both parties.
Allison says
Hi, thank you your reply, did you have a final response from Northway ? I’m not sure whether to go straight to the MFSA , I hope you have a good outcome. I will probably be going down the same route as yourself, they don’t make it easy do they! Keep me updated ☺ Allison
Damian says
Hi Alison,
MFSA will not review your case unless you have final response or Northway fail to replay to your complaint within 8 weeks (that was my case).
Now I do have Northway final response – passed to me by MFSA in their conclusion of my case.
Mandy says
I’m really confused on this particular lender. I sent a complaint email to swift sterling on 10.2.17 and I got am seer saying they had been bought by another company in Dec 2015 and I should send my email to complaints@northwayfinancial.com I did the same day at the beginning of Feb 2017 and I have never had a word back – nothing not even an acknowledgement. Who are Northway Financial? It’s been 8 weeks so should I just send to FOS?
David says
No, as it says on this page they are based and regulated in Malta and many of us are in the same boat. Try Northway’s contact page here
Also bombard them with emails to complaints@northwayfinancial.com and also info@northwayfinancial.com and enquiries@northwayfinancial.com.
Additionally, email the MFSA (Maltese regulator) here https://www.mfsa.com.mt/pages/contact.aspx and tell them you cant get a response from Northway and ask them to help. They forwarded on a message from me, and hopefully will spur them into action if they get sick of us lot pestering them!
melly says
Hi
Can anyone please help me with this. I have been in contact with the Maltese Fo for the past 6 months regarding my complaint with Northway. They found in my favour but informed me as Northway disagreed there was nothing further they could do as their findings are not legally binding.
I know people have had success with this company so i just wondered if anyone had any advice on how to proceed from here?
Damian says
Hi,
I’m similar situation with Northway. MFSA ruled in my favor and Northway totally disregarded MFSA conclusion.
I got in touch with with the lawyer in Malta and got following advise:
1. Lawyer can vet the MFSA decision and draft legal letter demanding payment. This would cost 150 Euro +VAT. Unfortunately lawyer could not guarantee positive outcome.
2. Lawyer also suggested logging compliant with Office of the Arbiter of Financial Services. After some digging you can do that yourself in similar way to compliant to MFSA and it cost 25 Euros. According to Arbiter of Financial Services Act decision reached by them will legally binding.
I contacted Office of the Arbiter of Financial Services on 4th of April 2017 and was advised in return:
“We may be able to assist you with your complaint but not at this stage due to changes in administrative procedures. We kindly ask you to contact us again within 3 to 4 weeks regarding compliant against Northway Financial Corporation Limited.”
I will be contacting them again in early May.
David says
I finally received my ‘goodwill gesture’ refund of £337 from Northway today, months after my original complaint (although I gave up and forgot about it for a while) and about three weeks after they got back to me with that offer, the amount to be paid within 6 working days (!) of me agreeing to it.
There is lots of good advice on this page for anyone dealing with Northway, although as they’re based in Malta I’m not sure how successful anyone will be if they have to take their complaints further – however for the communication issues, just keep using those email addresses and contacting the MFSA to tell them of the lack of response. Good luck to everyone!
Allison says
Hi, I can’t believe how quickly they got back to me when I asked if I owed them anything! Which I do! But since I put in complaint
. Nothing! !! Grrrrr
Nigel says
Looks alike all the compliants will now have to go through the Financial Arbiter
I have received the following. All existing cases are closed and you will have to re-complain. This is really annoying. But will just have to persevere.
Reference is made to our correspondence hereunder and to your e-mail of today addressed to our Communications Department.
We would like to inform you that the role of the Consumer Complaints Manager has now been phased out and consumer complaints against financial institutions licensed by the Authority may be lodged by residents and non-residents at the Office of the Arbiter for Financial Services in terms of Act XVI of 2016 – The Arbiter of the Financial Services Act, 2016.
The Office of the Arbiter for Financial Services is an autonomous and independent body. It has the power to mediate, investigate and adjudicate complaints filed by customers against financial services providers. The Office of the Arbiter for Financial Services can issue binding rulings in relation to complaints filed therewith.
Damian says
That is actually a good news. According to Arbiter of Financial Services Act a decision reached by them will legally binding and hopefully Northway won’t ignore them as we have seen so far with decisions from MFSA.
Allison says
Thanks for this information, I’m not sure I quite understand. I haven’t had a final response from Northway so should I wait for one then do you go straight to the Arbiter rather than the MFSA? Thanks. Allison
Ben says
It would seem so Alison. Wait until either you have received a final response from Northway (unlikely) or until 8 weeks from your written complaint (via email). – more likely. Then escalate your complaint to the new Arbiter service, it seems this body will operate in a similar way to the Ombudsman in the UK. As Damien said this seems that the result will be legally binding, rather than just a suggestion which Northway could previously ignore.
I would think that Northway will now respond appropriately, both in terms of time and a settlement offer.
It seems unfortunate for those that have already accepted a full and final offer for a fraction of their claim.
Personally, I’ll be escalating my complaint to the Arbiter at the beginning of May if Northway do not respond and I am more optimistic about getting a full refund.
Has anyone submitted a complaint to the new arbiter service? What has your initial response been from them?
Greg says
Hi all,
I am currently waiting for a response from northway about my complaint the 8 weeks are due on 2nd may. For reading here I shouldn’t be expecting any response. So I will be then taking it further. I have basically just asked them to wipe my current amount I owe them as it is roughly around the same I paid interest.
However, I have just noticed after going through my email that my debt with them has been passed on to CRS which is a debt collection agency. My question is, would this be the same process as listed above for MotorMile Finance as CRS are a UK based company?
Any help on this would be greatful.
Thanks
Sara (Debt Camel) says
Yes, same process.
FourMenHadADream says
The following document sets out when the Maltese Office of the Arbiter for Financial Services can investigate complaints. From what I’ve read, if you haven’t heard back from Northway within 15 days of sending your complaint to them, you can pass to the Arbiter.
Complaints must be sent by post or in person, and you’ll be charged a fee of €25.
https://financialarbiter.org.mt/en/the-complaint-process/Documents/The_process_of_a%20_complaint%20v2-%203%20July%202016.pdf
Ben says
I contacted the financial arbiter to request bank transfer information for the 25 EUR fee, which they provided promptly. I also questioned the time period of when to escalate the complaint, 8 weeks, 15 days or 30 days. The 8 weeks comes from the Financial Ombudsman requirements, the 15 days from the financial arbiter document: https://financialarbiter.org.mt/en/thecomplaintprocess/Documents/The_process_of_a%20_complaint%20v2-%203%20July%202016.pdf
and the 30 days comes from the 15-30 days that was detailed in the response alongside the response for the bank information for the 25 EUR fee transfer.
I asked the financial arbiter the time needed before my complaint could be escalated to them and they suggested writing to Northway again detailing with a second reminder.
This was done today (day 20) I have given them 10 more days and will escalated the complaint to the financial arbiter after 30 days. I do not expect to hear anything from Northway in this time period, but if I do I will post here.
Nigel says
I am a bit annoyed with this. I would have hoped existing investigations could have been transferred over. But no they have just been closed and I have to start the process all over again, mine is six weeks into investigation. But Just have to persevere.