Blemain finance

[midge61]

Hi all

 

Missy have you got any update on this?

 

I am still fighting to get all the info I need.

[Missy06]

Hi all

 

Missy have you got any update on this?

 

I am still fighting to get all the info I need.

 

Hi,

 

I'm yet to put my claim through the court; it's going to cost me a bit and I've put a number of claims through in the last couple of months!

 

Once I have some 'extra' cash, I'll put it through.......

 

Could you remind me what info are you waiting for? If they've failed to provide the info you require, why don't you approximate what the figures are? In trying to defend your claim, they might just give you the info you need (that's if they reply you!)

 

Otherwise, approximate the figure they owe you, put a claim through the courts and see what their feedback to the court is. They either have to file a defence or acknowlegde that they owe what you stated...... Whatever you do don't 'underestimate' the figures though; I'd overestimate it and let them come up with the right figures!:grin:

[midge61]

Hi

 

I have 3 closed accounts and the statements they have sent don't show any charges but I know there are some. Also I want the redemption statements as I'm sure they are wrong but they won't send them.

I did complain to the ICO who wrote to them but BF claimed they had sent everything that was possible as other info was not accessible or some such cr@p!

I will just keep writing until they get sick of me.

[phatram]

They won't get sick of you, so sue them !

If you are on any benefits I'm sure it won't cost you anything?

Hopefully the end is nigh for BF and the others.

[OscarMutley]

Last month I paid £25,000 (off my loan of £25,000 which is almost 3 years old). The figure for settlement from their Solicitor was a further £7,000+. I'm happy to let the loan run on the basis that I don't have another payment to make for almost 6 years (to avoid early redemption charges).

 

I wrote to BF asking for details of the balance and any charges they have levied for late payments over the previous 2 years. They haven't provided them. I haven't made another payment this month, on the assumption one isn't due, and surprisingly I haven't had a letter or phone call!

 

I'm not sure whether my modus operandi is legal as a way to avoid early redemption charges, but it's worth a try. If BF can bend the rules then so can I.

 

If the mortgage balance actually shows a very low amount, then they can't charge much interest. Furthermore, by the time almost 6 years has passed and my next payment is due I'm sure I can have paid enough to keep the outstanding balance at a minimal level without actually discharging it completely.

 

Some clever advice on my approach would be helpful

[Former Sins]

Oscar, sincerely this works for you.

 

But those in charge at BF are absolute theives and will prob end up getting their slice of you whatever you do to stop them!

 

They are ****.

 

Tracey Bailey. Gary Bailey. Henry Moser. Marc Goldberg et al should be ashamed of yourselves. You will need to do a lot of good to avoid going to hell.

[groovycaz]

Javascript Rule of 78 Rebate Calculator - Equal instalments

 

Hi all found this on another site, easy to use if you paid off your loan early

 

hope it helps anyone work out how much the scumbags at Blemain ripped you off..Gc

[blahblah1]

Hi, I know next to nothing about mortgages but I got into a very tricky situation a couple of years ago and short story ended up with a mortgage from Cheshire. Had a lot lot lot of trouble with them the whole time and at one point even went to court where there own lawyer agreed with me! his words to the judge were 'I can't make any comment except that I've been instructed by my company to defend there case' that was his whole defence because he knew they were wrong.

 

Thing is at the time of taking the mortgage things happened so fast I was mainly concerned with not being made homeless and signed and completed without really looking into it.

 

I brought my house for £100,000 with a 9.7% rate. but it says on my key facts thing I will eventually be paying back £350,000 this can't be right can it? Or am I just being really dense and this is how it works?

[magiciansgirl]

God how I wish I had read this in 2006... I am up to date with Blemain but I've never had a single statement from them. Also I asked them to write to my solicitors giving permission for my lease to be extended and they simply won't reply..... I think an SAR might be appropriate.

[OscarMutley]

Don't hold your breath magiciangirl, the don't respond to those either. They take the £10 charge but ignore the reminder letters sent by recorded delivery. I'm still waiting since February 2008 for my SAR to be answered.

 

I wrote to their Solicitors about the £7,000 they have charged when they tried to repossess my home. That was also recorded delivery and they haven't replied, they also didn't send another bill. I presume that legally they can't add it to my loan with Blemain.

 

Perhaps someone "in the know" can clarify?

[magiciansgirl]

OscarMutley, thanks for your reply. I've looked out my agreement today (it is signed, unlike some of the others I've read about here) and it's a 2006 one. It says that Blemain are members of the Consumer Credit Trade Association, and subscribe to its Code of Conduct. Also that CTTA operate a reconciliation and arbitration service etc. I don't recall this being higher up the thread, do you? Lots of talk of Trading Standards and FSA but not CTTA. I am getting this Code of Conduct and going through it with a fine comb. Will pass on anything useful. Kind regards, magiciansgirl

[midge61]

Hi

When I had problems with them I wrote to the CCTA (twice)and they wrote to BF. I just made a real nuisance of myself and kept writing until in the end they replied.

 

They iignore you in the hope you will go away! Make sure you keep all your post office reciepts and all copies of letters sent and recieved. They are very slippery customers!

 

I have 3 old loans with them but the so called statements sent show nothing about charges (which I am sure there were) and I have been at a loss as to what to do.

 

Keep at them until they give in. You can also write to the ICO about the SAR but I did that and got no help at all!

[magiciansgirl]

Hi Midge, thanks. What an awful time you've had.

 

All I want is a simple 'yes' to the lease extension which makes the property I own more valuable, so you'd think they'd be happy to agree. But their delay in replying made me suspicious and then I started researching them and came across this thread; nearly died of horror and belatedly realised I've had no statements. I was stressed out this time last year and failed to notice lack of statement; the next one is just a week overdue.

 

I'm furious that a broker recommended these people to me as responsible lenders and am writing to them to say so. I got a redemption quote purely out of interest last year so will be looking at whether the early repayment charge is fair, the redemption cost too, and I see they were also billing me for Buildings Insurance which is entirely unnecessary as I have it.

Kind regards, Magiciansgirl

[midge61]

Hi

 

The broker was probably on a big fat commission from them. As for the building insurance, if you have proof of the cover you already have/had I would write and ask for a full refund of what you have already paid them and if it was not clear in any of the paperwork from them that you were being billed by them then use this against them.

If you are unsure about this then it won't hurt to phone the FOS and check whether you can do this.

[OscarMutley]

I got a redemption quote purely out of interest last year so will be looking at whether the early repayment charge is fair, the redemption cost too, and I see they were also billing me for Buildings Insurance which is entirely unnecessary as I have it.

Kind regards, Magiciansgirl

I bet you'll find they charged you £100 for your redemption quote, which is completely illegal as they have to provide them free, and include the calculations.

 

As for buildings insurance, that's one of Blemain's usual tricks. When I took out the loan in 2005 Barclays faxed confirmation of my buildings insurance 5 times, each time they claimed they hadn't received it. As I've never had a statement or a response to my S.A.R - (Subject Access Request) I suspect that they charged me anyway.

[magiciansgirl]

Since I haven't been charged anything yet, and am simply making my monthly repayments until I can redeem the loan, I'm going back to the beginning to ascertain what the broker has recorded as agreed. eg on the broker website it says that broker fees are not added to the loan total, and mine have been. I want to know how the broker fee was calculated, as well and bringing up the question of insurance with them. I am requesting a copy of the loan agreement form I filled out, too.

We shall see... :-|

[midge61]

Hi

 

Know what you mean. I phoned them directly when i applied for my loan. There is a broker fee of £950 written on the agreement and the statements i have had state the loan amount for 1k more than I borrowed.

 

I was not aware of any charges until I was late paying one month and they then sent a demand for the monthly payment PLUS £1200!

[JonCris]

Aren't Blemain like Pacific, another bunch of tossers, owned by Lehman Bros .............. oh dear.

 

Their staff will very soon be in the same boat as the rest of us

[blahblah1]

Aren't Blemain like Pacific, another bunch of tossers, owned by Lehman Bros .............. oh dear.

 

Their staff will very soon be in the same boat as the rest of us

 

 

What does that mean then? Will their debts be sold to someone else?

 

I don't really understand it at all just worried because my mortgage is with them and have spent last hour looking for answers on internet and now my heads spinning!

[JonCris]

If I'm correct yes & at a knock down price cos they have been trying desperately to off load their sub-prime businesses for weeks if not months without any success whatsoever.

 

Be prepared because those that buy their mortgage lending will seek to liquidate the assets by repossessing property & when sold on for less than the outstanding debt will claim on their gap insurance (for which you have been paying the premium & assuming the insurers don't go bust).

 

This is already beginning to happen with many mortgage lenders the most recent being NR so it's not just sub-prime consumers who are at risk it's eveyone.

 

Unless governments around the world take a much more firm grip on this it will continue to get much worse for ordinary people. The Banks must be regulated in that their liquid assets must cover their liabilities as they used to

 

They are primarily in this mess because of their irresponsible borrowing ......... ironic don't you think

Edited September 16, 2008 by JonCris

[JonCris]

Forgot to mention any 'bad debt' losses will be set against their tax liabilities for years to come. Some won't pay any tax for up to 15 years because they have set all their worldwide losses against their British operations & this government are doing nothing to stop them

[midge61]

Hi

 

Blemain (Jerrold Holdings) are part owned by Barclays Private Equity so I don't think there is a connection with Lehmans here.

[magiciansgirl]

I couldn't find any connection with Lehman Bros either and I spent a lot of time on it last night. Apart from the Barclays stake, they got funding from Bank of Australia and HBOS, which is not great news given HBOS seem shaky now. JonCris, two questions if you don't mind? Surely neither Blemain or a new owner can repossess if one is completely up to date with payments? And if they are sold, could it be an opportunity to have the terms of the loan/mortgage agreement redrafted? MG

[blahblah1]

I am not sure on details at all and could be completly wrong but wasn't there a test case where mortgages were sold and then they had to be written off because who the money was actually owed to couldn't be traced?

 

I can't rememeber where I read it, probably completly wrong but you never know lol

[JonCris]

I stand corrected. I think it may have been Pacific they had been trying to unload