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Blemain daylight robbery please help !!!!

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  • Blemain daylight robbery please help !!!!

    Where do I start !!!! I took a loan out with Blemain Finance in January 2008 the loan amount was £40k.
    This loan was secured on my property, this loan was arranged by a broker who no longer trades.
    This loan was taken out to help me finish a self build. I have now been paying this loan for six years
    and have now paid in the region of 32k. Recently I asked Blemain for a settlement figure and was mortified when they told me the settlement figure was 48k (SHOCK HORROR) ...I have refused to pay my last three payments and now Blemain are taking me to court for possession, I will pay the outstanding amount just before the hearing but I want to go to court to ask the Judge how can I have paid £32k but have not paid anything off the loan, that has now increased. Blemain have never sent me any statements concerning the loan, I asked Blemain for a breakdown of the loan that I paid £10 for That privilege, this took six months
    and when this information arrived they conveniently never sent a breakdown of any charges.
    Trying to get any information from Blemain is like trying to get blood from a stone.
    I feel my only option is to take Blemain to court but unlike Peter Bentley it is my intention to take
    this all the way to the high court someone has to stop these people. The solicitor acting for Blemain
    is Rosling King is this their own in house legal team ?
    To sum this thread up I would like to say that I think Blemain have acted inappropriately and unfairly
    in their conduct towards the agreement and towards me the said Client.
    Any HELP would be greatly appreciated and if anymore information is required I do have a limited amount
    of paper work that if helpful I will share. I am very determined to stop this company's practice from what I can see on the Net they have a very bad reputation and have made many peoples lives a misery.
    PLEASE HELP !!!!!!!!!!!!!!!!!!!!!!!!:tinysmile_cry_t::tinysmil e_cry_t::tinysmile_cry_t::tinysmile_cry_t::tinysmi le_cry_t::tinysmile_cry_t:
    Tags: None

  • #2
    Re: Blemain daylight robery please help !!!!

    What period was the original loan over, what was the interest percentage and how much were your payments ?

    Did you miss ANY payments or pay slightly less any month etc?
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

    Comment


    • #3
      Re: Blemain daylight robery please help !!!!

      The original loan was over a 20 year term, the interest was 13.11% and payments were £501.60 per month.
      yes i have missed payments but have always made Blemain aware that i am self employed so it made it difficult to always pay at regular monthly instalments especially during the recession sometimes i have missed payments but have caught up each time. i know this not good practice as payments should be made on time but this can still not explain how i have paid 32k off of an original loan of 40k, but still owe 48k +..

      Comment


      • #4
        Re: Blemain daylight robery please help !!!!

        Originally posted by Blemained OFF View Post
        The original loan was over a 20 year term, the interest was 13.11% and payments were £501.60 per month.
        yes i have missed payments but have always made Blemain aware that i am self employed so it made it difficult to always pay at regular monthly instalments especially during the recession sometimes i have missed payments but have caught up each time. i know this not good practice as payments should be made on time but this can still not explain how i have paid 32k off of an original loan of 40k, but still owe 48k +..
        Okay thank you. Yes, ridiculously, the missed payments will be where the issue is and how your redemption has ramped itself up.

        You need to ask them for a full statement of your account, and a breakdown of charges. You can ask them for it informally and you should also send them a Subject Access Request under the Data Protection Act to get all the information they hold about you.

        I was reading earlier a £5k loan where redemption was over £17k (after paying £8k ) because of ONE missed payment.

        They really are b*st*rds.

        Do you have a copy of your credit agreement and account terms and conditions ? Have a read through that and the terms on missed payments, late payment charges, interest etc.
        #staysafestayhome

        Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

        Received a Court Claim? Read >>>>> First Steps

        Comment


        • #5
          Re: Blemain daylight robery please help !!!!

          Basic calc on 20 years at 13.11%

          Results

          Monthly repayment:452


          Number of Repayments: 240


          Total amount paid:108,276


          Total interest paid: 68,276




          Did you have payment protection or anything added to the loan?

          Also look at early repayment terms
          #staysafestayhome

          Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

          Received a Court Claim? Read >>>>> First Steps

          Comment


          • #6
            Re: Blemain daylight robery please help !!!!

            They are charging e over 14k in late payments although my loan is paid up. I have a court case pending and will keep you informed, in the meantime its worth looking into the unfair contract terms, their interest rate goes up but never comes down, also how much was the loan application for iin relation to what you borrowed, and how much did u say u can afford on the income and declaration document. Who was the broker, did u buy ppi with the loan

            Comment


            • #7
              Re: Blemain daylight robery please help !!!!

              Originally posted by Blemained OFF View Post
              I asked Blemain for a breakdown of the loan that I paid £10 for That privilege, this took six months
              and when this information arrived they conveniently never sent a breakdown of any charges.
              Ahhhh was that a subject access request ?
              #staysafestayhome

              Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

              Received a Court Claim? Read >>>>> First Steps

              Comment


              • #8
                Re: Blemain daylight robery please help !!!!

                Originally posted by Amethyst View Post
                Ahhhh was that a subject access request ?
                Yes I did request an SAR basically I requested everything charges settlement figure
                after paying £10 for this information it took six months to arrive with only my payment information

                Comment


                • #9
                  Re: Blemain daylight robery please help !!!!

                  Originally posted by Blemained OFF View Post
                  Yes I did request an SAR basically I requested everything charges settlement figure
                  after paying £10 for this information it took six months to arrive with only my payment information
                  This in itself is a breach of the Data Protection Act.....you could add this as an argument in that this failure has seriously damaged you ablity to prepare a Defence and any Counterclaim wich you could claim as unfair under section 140 of the CCA Unfair relationship.

                  Another point about Blemain they have claimed to be a subsidiary of Lancashire Mortages Ltd......However according to the FSA whenthey fined Cheshire Mortgages the FSA were led to belive that it was the other way around and Cheshire Mortgages were part of the Blemain Group .......I would check up on his as this in iteslf is misleading and confusing.....wish I could spend more time assiting you ......but I will chip in with ideas when I can.
                  I would suggest you also check into the lending structure and if there is any link between Blemain and Barclays bank........I think thers is .....I'll check on this...........if there is it is very important that link is made.

                  Unfortunately Barclays are not involved in their funding.......BUT both RBS & Lloyds are.......both these Banks as we know had to ask for Govtbhelp to avoid collapse

                  Sparkie
                  Last edited by Sparkie1723; 19th January 2014, 22:03:PM. Reason: Adde info

                  Comment


                  • #10
                    Re: Blemain daylight robery please help !!!!

                    The broker got the loan but is no longer avaliable to answer any concerns. tried to look for ppi but was going
                    round in circles, something to do with City Loans UK and Blemain. Nowhere on my agreement does it say total
                    amount payable, original app was for 40k but then charges took that up to 42k i wasn't given an option of how much i could afford i was told the payments were £501.60 pm and agreed to them. I don't actually remember a income and declaration document the broker just gave me forms to sign and return. i am actually terrified to think that i could end up paying this for the next 14 years and still end up owing these thieves more money. I've got a court hearing for the end of this month and i wanted to attend to see whether the Judge could help me shine some light on the situation but BF have told me not to do that because the Judge will not be interested he only wants to hear about the arrears i have on the account LOL .

                    Comment


                    • #11
                      Re: Blemain daylight robery please help !!!!

                      Who was the broker?
                      #staysafestayhome

                      Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                      Received a Court Claim? Read >>>>> First Steps

                      Comment


                      • #12
                        Re: Blemain daylight robery please help !!!!

                        Originally posted by Amethyst View Post
                        Basic calc on 20 years at 13.11%

                        Results

                        Monthly repayment:452


                        Number of Repayments: 240


                        Total amount paid:108,276


                        Total interest paid: 68,276




                        Did you have payment protection or anything added to the loan?

                        Also look at early repayment terms
                        sorry but if 13.11% is payments of 452 then y am i paying 501
                        also they say that their rate now is 12.9% so payments should be less so where is that extra money going.
                        Brokers were Romford Mortgage Company in Essex

                        Comment


                        • #13
                          Re: Blemain daylight robery please help !!!!

                          The calculation was based on £40k ... have a look ... Google loan calculator I use the moneyadvice service one.

                          That's why I wondered if you had PPI , otherwise there could be a broker fee or something you are paying interest on.. we wont really know till you get copies of documents.

                          I'll try looking up that broker, see where their paperwork may be held now.
                          #staysafestayhome

                          Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                          Received a Court Claim? Read >>>>> First Steps

                          Comment


                          • #14
                            Re: Blemain daylight robery please help !!!!

                            Would you have an address or other info on broker? Nothing current or dissolved in that name on companies house or credit licence, just checking fca listings. Nope, nothing there either.

                            Closest is Yes Mortgages "
                            Yes Mortgage Centres Limited RM7 0YL
                            Mortgage Bureau (Uk) (Romford
                            )
                            Last edited by Amethyst; 19th January 2014, 23:44:PM.
                            #staysafestayhome

                            Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                            Received a Court Claim? Read >>>>> First Steps

                            Comment


                            • #15
                              Re: Blemain daylight robbery please help !!!!

                              1. Dont believe anything BF tell you. The judge will be interested.
                              2. You should be aware of irresponsible guidelines set my the OFT. Seems to me without the income and affordability document how would they know u could afford the loan.
                              3 You say Blemain were aware that your payments would vary as you were self employed. How would they know this

                              Comment

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