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Near end to my 108 month loan. Accept there's a £2529.18 in charges in fees!


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As I'm nearing to my last year of my loan.

I just thought I take a closer look at my statement this month.

OH MY WORD!

 

I took out a £20k,

108 month secured loan on my property in Oct 2007.

 

 

Up to now, I am up to date.

 

 

From 2007-2011, on 4 occasions I made late payments.

Some arranging from 4days-2 weeks late.

 

 

From Feb-Dec 2012 I lost my job, and fell into arrears.

But within that period, I managed to make 4 payments which covered 4 months.

And because I was able to find a new job, in December I paid off the remaining arrears.

 

Since then, I have never missed a payment and my account is up to date.

 

 

on checking my statement, and balance.

I was assuming my balance would be near the £3763.68 mark (12 x £313.64) as I have 12 months left.

But to my astonishment and disgust.

 

 

My balance is showing:

 

Balance Outstanding: £7954.99

Repayment Administration Fee: £195

Total Redemption Figure: £8149.99

 

Cost & Charges: £1570

Buildings Insurance Charge: 959.18

 

I rang them up, and told them to send me the breakdown of charges and fees.

 

They consist of:

 

Building Insurance - £959.18

Building Insurance Block Policy Charge - £130

Dishourned Reciept Charge - £35 x 5

Letter - £30 x 5

Collections Telephone - £35

Monthly Charge Arrears - £42 x 13

Visit Costs - £100

Land Registry Priority Search Legal Charge - £6

Land Registry Office Copies - £4 x 2 (on the same date?!?!)

Issue of Possession - £49

Online Issue Fee - £100

Court Preparation Fee - £57

Legal Costs - £162

 

Can someone please help me.

 

 

Is this even legal?

 

 

And what is this charge I have for Building Insurance/Block Policy Charge.

 

Even if I minus all the fees/charges.

 

 

The balance does not even add up to the 108 month loan agreement.

 

 

Any help would be great and much appreciated.

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As I'm nearing to my last year of my loan.

I just thought I take a closer look at my statement this month.

OH MY WORD!

 

I took out a £20k,

108 month secured loan on my property in Oct 200

 

Up to now, I am up to date.

 

From 2007-2011, on 4 occasions I made late payments.

Some arranging from 4days-2 weeks late.

 

From Feb-Dec 2012 I lost my job, and fell into arrears.

But within that period, I managed to make 4 payments which covered 4 months.

And because I was able to find a new job, in December I paid off the remaining arrears.

 

Since then, I have never missed a payment and my account is up to date.

 

on checking my statement, and balance.

I was assuming my balance would be near the £3763.68 mark (12 x £313.64) as I have 12 months left.

But to my astonishment and disgust.

 

My balance is showing:

 

Balance Outstanding: £7954.99

Repayment Administration Fee: £195

Total Redemption Figure: £8149.99

 

Cost & Charges: £1570

Buildings Insurance Charge: 959.18 - is this a second charge in addition to an existing mortgage?

if so do you already have building insurance running. if so reclaim the lot!

 

I rang them up, and told them to send me the breakdown of charges and fees.

 

They consist of:

 

Building Insurance - £959.18

Building Insurance Block Policy Charge - £130 - urm whats that .....

Dishourned Reciept Charge - £35 x 5 - reclaimable

Letter - £30 x 5 - - reclaimable

Collections Telephone - £35 - reclaimable

Monthly Charge Arrears - £42 x 13 - reclaimable

Visit Costs - £100 - reclaimable

Land Registry Priority Search Legal Charge - £6

Land Registry Office Copies - £4 x 2 (on the same date?!?!)

Issue of Possession - £49 - have they instigated repo via a court do you know - if not reclaimable

Online Issue Fee - £100

Court Preparation Fee - £57 - have they instigated repo via a court do you know - if not reclaimable

Legal Costs - £162 - have they instigated repo via a court do you know - if not reclaimable

 

Can someone please help me.

Is this even legal?

And what is this charge I have for Building Insurance/Block Policy Charge.

Even if I minus all the fees/charges.

 

The balance does not even add up to the 108 month loan agreement.

 

Any help would be great and much appreciated.

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 6 months later...

Can anyone shed a light to this please. I have now had my reply from the ombudsman, and like many have said. It will be a waste of time, which it was. So where do I go from here and who do I turn too now?

 

Any help would be great.

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Did you have your own buildings insurance during the time you had the loan ?

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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No, I wasn't told anything about the building insurance at the time. They told me to send it in recently, and I have, but are still standing by their fee.

 

Going through my complaint they have offered me a redress fee of £572.87. They are saying these are for payments made to my account within the same calendar month, but where a charge had been applied and to credit any arrears charges that have been applied more than once in the calendar month. Others are incorrect administrative fees.

 

I still think its abysmal that after my 20k loan finishes. I will still have a balance of 5k!

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Who is the loan with?

Do you have all the statements? And if not

Have you sent a SAR for all the info and statements?

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

Click Here To Make A Donation

I am not legally trained or qualified, any advice i offer is gleaned from experience and general knowledge, if you are still unsure after receiving advice please seek legal advice.

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why did you not comeback in November and get more advice

before running to the FOS?

 

 

did you do a spreadsheet

and covering letter

and send it off to Blemmy?

 

 

what was their reply?

what did you complain about?

 

 

what did you send the FOS?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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The SAR is a Subject Access Request, for a fee of £10, the organisation must send any and all information they hold about you and your dealings with them, within a 40 day timescale, as per s7 of the data protection act

 

The following link gives more information

 

https://ico.org.uk/for-organisations/guide-to-data-protection/principle-6-rights/subject-access-request/

 

 

Blemain are by far one of the worst offenders out there, once you have all the info, you then compile a CISheet, (compound interest spreadsheet) and start reclaiming all the charges as noted by dx above plus interest in restitution

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

Click Here To Make A Donation

I am not legally trained or qualified, any advice i offer is gleaned from experience and general knowledge, if you are still unsure after receiving advice please seek legal advice.

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Found this from Moneysavingexpert.com forum (May 2011)

 

'Similar thing happended to my mum.

We ended up getting a eviction notice, but mum had been to the CAB, whom inturn got her some legal eagel to go over all the paperwork with a finetooth comb.

 

 

Turns out Blamain had been very naughty, added loads of charges etc that they weren't allowed to,

and the loan got thrown out in court

(think she owed around £60,000, all from an original loan of £10,000)

They were also made to repay her around £7,000.

 

It was about 10 years ago, and I was only 18ish so don't know the in's and out's of her arrangements with Blamain,

or what these charges etc were.

But in a nutshell, they are crooks!'

 

So might try the Citizens Advice Bureau.

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Hi dx100uk. didn't get an answer so thought I give FOS a go. I complained how the fees were unfair and the charges were unclear to me. I will send over tonight their response with their redress figure.

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stop skirting around and passing the buck hoping other org's will sort this for you..

 

 

they wont, its YOUR LOAN.

you need ALL THE INFORMATION FIRST

 

 

go follow post 8&9

 

 

do it properly as I suspect you've already somewhat shot yourself in the foot

by playing your cards too early with blemmy

and certain stuff that could help you has already hit the shredder

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thank you dx.

 

 

I hope I haven't damaged my case too much.

 

 

I just have no idea what I'm doing.

 

 

But yes I will follow the advice you guys have given me.

 

 

Thanks again and I will update you guys later.

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well you came here in nov then never cameback,

we cant guide you if you don't ASK for advise.

on what you are proposing to do..

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

  • 1 month later...

Hi Wungus

 

They consist of:

 

Building Insurance - £959.18

Building Insurance Block Policy Charge - £130

Dishourned Reciept Charge - £35 x 5

Letter - £30 x 5

Collections Telephone - £35

Monthly Charge Arrears - £42 x 13

Visit Costs - £100

Land Registry Priority Search Legal Charge - £6

Land Registry Office Copies - £4 x 2 (on the same date?!?!)

Issue of Possession - £49

Online Issue Fee - £100

Court Preparation Fee - £57

Legal Costs - £162

 

The block building insurance is a payment they take from you for them to insure your building for the loan per year, its called block because they dont actually have insurance for your home just one insurance to cover all customers. They used to demand their name be put on the insurance policy but have since changed that.

 

Letter and collections telephone charges where what they used to charge customers till they swapped them for monthly fees as you have both then i suggest your loan period covered both time scales.

 

Visit cost of £100 are when they claim all communication has failed and they send collectors to your door apparently after mailing you and you werent home so they take a picture of your home for proof. (nice earner)

 

Legal costs well think of a number and thats what you pay basically.

 

Yes these amounts do not add up to the balance you apparently owe that is because that balance they claim you owe includes compound interest on all those charges you mentioned. Even after all the payments agreed are made and the contract is paid the outstanding balance made up of charges and interest still accrues at the contractual rate.

 

I would like to challenge them on many things but the one that really annoys me is how they can still charge contractual interest on the charges even after the contract has been paid in full and terminated.

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