Blemain finance

[greedfighter]

Thanks midge, just waiting now for an answer from Blemain.

[dax]

Isnt it amazing how they have managed to take everyone for a ride and are still unanswerable to any of us!

[dax]

Did you get any further forward Midge..ive been struggling with other matters since we spoke last

[midge61]

hi

 

Cheshire Mortgage Corporation Head office: Bracken House, Charles Street, Manchester, M1 7BD Type of membership: Member

The above are the parent company of Blemain and they are members of the the council of mortgage lenders. Ths means they agree to the motgage code. This also means complaints can be made to

The Mortgage Code Compliance Board

University Court

Stafford

ST18 0GN

Tel: 01785 218200

Complaints concerning the general operation of

the Code can be made to them.

 

or try

The Mortgage Code Arbitration Scheme

International Arbitration Centre

12 Bloomsbury Square

London WC1A 2LP

Tel: 020 7421 7444

 

and you can download a copy of the mortgage code off of the cml website.

 

Hope this may be of use

[midge61]

Hi dax

 

I haven't got further due to serious family problems taking over at the moment.

 

I have read your thread with Halifax. I do hope someone hhas finally offered you a proper answer as it seems you were getting no where with it. I can't offer any help on that one as I don't know much about it. I do feel though as you do that as it was their mistake and the amounts credited were not overly large that you were quite justified in assuming them to be correct and I am sure there must be some way of stopping them insisting on ou repaying such a large amount.

Good luck

[dax]

I only wish midge..or at least they should offer some reduction as a gesture of goodwill....I could understand if I had loaned the money, but I never asked for their mistake and am now landed with a 7k debt and being hounded by more sharks.This time I dont even comprehend what their trying to relay and cannot afford legal advise or need more wrangles..I think we should all go back to keeping our money under the matress and invest in a guard dog as at least then you could count it, pay peter and paul and see the change right in front of you. I mean what exactly do banks actually do for us but bring us grief! Then havethe ordacidy to charge us for being with them

[midge61]

Hi

 

Have they actually given you a full breakdown of the amounts mistakenly paid into your account?

[dax]

oh yeah...after erring for 13 months and the taking another 4 top work it out

[midge61]

know from what i have read that it seems they are within their rights to ask for repayment but that you can also take off an amount for inconvienience ie letters etc that you have had to send over the matter and a pecentage for having caused you a problem.

 

Could you not work out what you think is a resonable amount to be deducted and then offer a repayment of the rest via monthly payments. At least that way no judge will see you as unreasonable and as it was the banks fault in the first place you should not be made to make a lump sum repayment, especially if you can prove this would cause you hardship.

 

Don't know what else to suggest.

[Missy06]

Hi guys! Have any of you had any progress since your last posts? I've been following the thread and now just about to embark on 'taking on' BF.....

[midge61]

Hi Misy

 

I am at the point of needing to tackle their non compliance of my s.a.r but unfortunately finances won't let me!

 

I could really do with some ideas on how to get them to comply without court.

 

What's your beef with them?

[Missy06]

Well, I just dicovered that one could claim charges on mortgage accounts even if they've been paid up and decided to check it out....

 

I couldn't find a single paperwork on my BF account (which is surprising as I keep everything!.....I mean everything!!) not even my account number....

 

Then lo and behold, a couple of days later, they send me a 'sales' letter in the post....u know those ones asking u to use their services again!....

 

Anyway, I called them up and managed to obtain my old account number (I took out the loan in October 2001 and paid it off with a remortgage in August 2003. They also gave me the previous loan amount as 13k, and the total I should have paid under my agreement if it ran the 25 years term as 38k.

 

When I redeemed the mortgage I paid back 16k apparently but like I said I have no paperwork. What I will be doing on Monday is calling my current lender for a copies of any paperwork sent to them from BF just in case I get no favourable answer to my SAR (which I'll also be sending out on Monday).

 

I think I'll get a name and fax number on Monday and ask if they used the Rule of 78 on my account....

[Missy06]

For those of you who haven't heard from BF despite sending a SAR and a letter of non-compliance, why don't u just go ahead and approximate what u think they owe u (make it a ridiculous amount.....that should get their attention!), send your prelim, then send ur LBA as u would with reclaiming any other charge?

 

If they still don't give a positive feedback just take ur claim to the court.......At least at court they have to show up with all the necessary paperwork to prove their case against u!......

 

What do u all think?

[midge61]

Hi Misy

 

I managed to get my old account numbers from the solicitor that dealt with my remortgage.

 

Your idea does seem a fair one but from reading posts by Patrikq I am inclined to make sure of my facts first as their legal team are particularly nasty!

 

If you have any luck getting a name and a fax number that would be of interest. I know in my dealings with them it took 6 months to get a complaint ak=cknowledged and dealt with. Perhaps I will review all my letters etc and try pestering some of the names on the letters sent to me hehehe;)

[greedfighter]

Hi Missy,

As yet have heard nothing from Blemain but the clock is still ticking away for me and their 40 days are not up yet. I can probably estimate my redemption penalty fairly accurately (date take out blemain loan and amount - know how many payments were made - know what the redemption figure was since the new mortgage amount was taken out to cover it exactly). Think I will just press on with court action if they dont respond - you can always file a claim for an unspecified amount and having presented the case simply let the judge decide based on the facts presented. I think one of two things would happen either 1. BF would come up with the exact figures in which case if it is lower than expected you are still getting what you are entitled to or 2. The judge awards a lower amount than expected - well you didnt really know what you were entitled to start with so I suppose in reality its no great loss you have got something back.

 

Any thoughts chaps/chapessess.

[Missy06]

Hi all!

 

I've gotten some paperwork from BF over the last 2 days....my credit agreement and a detailed breakdown of how they calculated my settlement figure using the Rule of 78 (took the loan out in Oct 2001).

 

I'll be taking a look at these in the morning and feedback to you ASAP.

[midge61]

Hi missy

 

Well done that's good news. have sent another mere detailed sar so hopefully I should get some too soon.

[Missy06]

Story so far....

 

Oct 01 - loan taken out.

 

August 03 - loan paid off.

 

13/11/07 - called BF on 0800-111-6799 and got to speak to the infamous Lee Longdon. I verbally requested the DPA and he asked me why I needed the information. I told him for my personal financial housekeeping as I had nothing in my financial about this loan. He then had the nerve say he didn't see what I needed the information for as the account has been settled. He went on to say ".....it'll take 10 man-hours to get the information and you'll just end up sticking it into a file!..." Can you imagine?!?

 

He also informed me that the loan I took out wasn't a regulated one. Hmmm! Needless to say I sent off a SAR with 10.00 cheque:wink:

 

27/11/07 - received copy of my credit agreement. Doesn't look like any PPI has been added to the loan:(....

 

28/11/07 - received a "more-than" detailed break down of how they calculated my loan settlement using the Rule of 78 (in my SAR I had specifically told them to send me an "understandable" breakdown of all calculations of redemption as well as an an "understandable" statement of account; not just a computer generated print of figures!"). Wow! I'm actually impressed!.....having said that they might have done this simply because they know for definite that I don't have a valid PPI claim!!

 

Am I correct in saying that if one paid PPI it would be itemised on the original credit agreement?.... Anyone know?

[Missy06]

OK so it looks like I wasn't charged any PPI on this secured loan.

 

However, the following were charged to the account:

 

1) Default Interest(for non / late payment) = 21.17

2) Legal & Documentation Fee = 585.00

3) Redemption Administration = 58.75

4) Collection Costs = 352.50

 

They say that the Legal and Documentation Fee is " ....non-interest bearing and covers all costs incurred during the underwriting process associated with the loan.." They say they "..defer payment of this amount until either early settlement or the end of the loan.

 

Can I claim any of these back?......at least items 1) and 4)?

[Missy06]

Do any of you Gurus know how I can scan a copy of this letter sent to me from Blemain Finance onto the forum for all to see?

[midge61]

Hi Missy

 

The PPI would show as a seperate amount with interest for it as well.

 

It's worth getting the figures for the redemption checked as I believe they may prove incorrect;)

 

To scan a letter for here you need to scan it and put it in an album on photobucket.com first then you can paste the link. Remove all your personal details first though!

 

I have finally recieved some of my info today and they say more is to follow. So I will have to have a good look at it later.

[greedfighter]

Well it all seems to be moving now, I have also received my settlement figures and statements in the post this morning. As you will recall I did write to the FSA and OFT who fobbed me off but maybe if weve all been complaining perhaps they have actually spoken to Blemain.

 

For information a copy of the FSA undertaking and direction on the rule of 78 being applied is available on the FSA website ( I cant provide a link i'm not that clever) by just typing in Blemain in the search box.

 

I have established that I paid £11k redemption penanty on a £28000 original loan using rule of 78: hence settlement was £39000 for an outstanding balance of £21000. Excessive ?????? just a tadge I think.

 

Like all I am not sure where to go from here (FSA OFT and FOS not interested since loan before their time)(see previous threads).

 

I have spoken to a couple of Solicitors on the fixed fee interview scheme, I was not that reassured and came away with the following options:

 

Option 1: take them to court, more than small claims amount so would need legal representation - couldn't present myself.

 

Option 2 : Do same on no win no fee basis but so far havent been able to find anyone who does this for these types of cases.

 

Option 3 : Claim only the £5000 in small claims - see myself off for £6000 and I am led to believe the law is far more complex than reclaiming bank charges. So could be risky.

 

Option 4 : Do nothing - My situation is now such that I am thinking about an IVA, I dont really have any more time to play with even though this would have solved all my problems. Any money received will just go to my other creditors so I wouldnt see it anyways therefore why waste my time pursuing it at present. If previous subscribers to the thread are right and the limitation period is 12 years then I may as well wait until after the IVA is discharged and at least get the money for myself. The timescales would be tight !!!!!!!!!.

 

I think having thought about it I will probably be backing off this particular fight at present but I wish everybody else the best of luck. I will keep my eye on the thread just so that I can take some comfort in knowing that they are not getting away with it.

[greedfighter]

Keep it going Missy and best of luck. You seem to have a handle on it.

[Missy06]

Thanks Midge61.

 

I'll go over the figures over the w/e and let you all know what the outcome is.

[Missy06]

Greedfighter,

 

I hope I can claim something back from BF:)

 

I put a copy of the calcs from BF on over the weekend for all to have access to in case I'll help others out.