Results 1 to 2 of 2

Thread: Blemain finance unfair charges help!

  • Share
  • Thread Tools
  • Display
  1. #1
    m73red's Avatar

    Junior Member



    Joined
    Mar 2017
    Posts
    2
    Mentions
    0 Post(s)

    Default Blemain finance unfair charges help!

    Blemain finance unfair charges help!

    I took out a Blemain finance loan back in 2005 for £16.913.00 , secured against my property (it was actually a refinancing of a previous loan with First National Home Finance) . I sold my property in Jan 20012, so both the mortgage and the Blemain loan were paid off. The interest on the loan was 12.2%

    The final redemption payment to Blemain was for £23,253.36 in Jan 2016 and this was paid in full.


    I got the SAR from them so i have a break down off all the charges. Through out the loan I did have money problems, looking at the breakdown of my account there is quite a number of late payments.

    There's just a few things I could do with help on:-

    Over the period of the loan I've been charged for:

    Letters = £30 - £35
    Visit = £100
    telephone charge = £30 - £35
    Monthly charge - arrears = £33 - £46
    Dishonoured Receipt = £30 - £35
    Default Notice = £50
    Buildings Insurance = £85 - £184
    Buildings Insurance Block policy Charge = £16
    legal costs = £282
    application to suspend legal action = £13
    settlement figure fee sent to 3rd Party= £30
    Court preparation fee = £53
    court hearing fee = £13
    land registry copies =£4
    online issue fee = £100
    Issue warrant for possession = £18
    collections instruction = £176.25
    Legal fees to HMCS = £150
    Post - Legal monthly Charge 2 = £130 - £215


    I did get close to getting the house repossessed twice, which is why i had to sell it quickly and under the market value.

    Some of the above were charged multiple of times, others just a few, All in all the total charges come to £5,865.50

    plus there was a Broker fee at the start for £1,500 (this is not included in the £5,865.50)

    1) the £1500 broker fee seems excessive, is there anything that can be done? Are they allowed to charge that much?

    2) Which of the above charges can I try to claim back for? bearing in mind they did attempt to take me to court a few times fir monies owed, this was during the time I was trying to sell my house as i couldn't afford to live.

    3) I have downloaded the CIsheet (compoundinterest calculator) and entered all the charges.
    Bearing in mind the loan interest rate was 12.2% APR what % do I put in the interest rate (Apr) column, is it the APR of the loan which was 12.2%? I take it the sheet automatically works out the 8£ compound interest rate in the final column.


    4) Is there a letter template to try to claim back these unfair charges from Blemain

    Any advice would be grateful

    Regards

  2. #2
    Ak03's Avatar

    Junior Member



    Joined
    Nov 2017
    Posts
    3
    Mentions
    1 Post(s)

    Default Re: Blemain finance unfair charges help!

    Quote Originally Posted by m73red View Post
    Blemain finance unfair charges help!

    I took out a Blemain finance loan back in 2005 for £16.913.00 , secured against my property (it was actually a refinancing of a previous loan with First National Home Finance) . I sold my property in Jan 20012, so both the mortgage and the Blemain loan were paid off. The interest on the loan was 12.2%

    The final redemption payment to Blemain was for £23,253.36 in Jan 2016 and this was paid in full.


    I got the SAR from them so i have a break down off all the charges. Through out the loan I did have money problems, looking at the breakdown of my account there is quite a number of late payments.

    There's just a few things I could do with help on:-

    Over the period of the loan I've been charged for:

    Letters = £30 - £35
    Visit = £100
    telephone charge = £30 - £35
    Monthly charge - arrears = £33 - £46
    Dishonoured Receipt = £30 - £35
    Default Notice = £50
    Buildings Insurance = £85 - £184
    Buildings Insurance Block policy Charge = £16
    legal costs = £282
    application to suspend legal action = £13
    settlement figure fee sent to 3rd Party= £30
    Court preparation fee = £53
    court hearing fee = £13
    land registry copies =£4
    online issue fee = £100
    Issue warrant for possession = £18
    collections instruction = £176.25
    Legal fees to HMCS = £150
    Post - Legal monthly Charge 2 = £130 - £215


    I did get close to getting the house repossessed twice, which is why i had to sell it quickly and under the market value.

    Some of the above were charged multiple of times, others just a few, All in all the total charges come to £5,865.50

    plus there was a Broker fee at the start for £1,500 (this is not included in the £5,865.50)

    1) the £1500 broker fee seems excessive, is there anything that can be done? Are they allowed to charge that much?

    2) Which of the above charges can I try to claim back for? bearing in mind they did attempt to take me to court a few times fir monies owed, this was during the time I was trying to sell my house as i couldn't afford to live.

    3) I have downloaded the CIsheet (compoundinterest calculator) and entered all the charges.
    Bearing in mind the loan interest rate was 12.2% APR what % do I put in the interest rate (Apr) column, is it the APR of the loan which was 12.2%? I take it the sheet automatically works out the 8£ compound interest rate in the final column.


    4) Is there a letter template to try to claim back these unfair charges from Blemain

    Any advice would be grateful

    Regards
    Did you manage to claim back any charges?

    - - - Updated - - -

    Did you manage to claim back any charges?

Similar Threads

  1. Replies: 115
    : 7th December 2016, 18:29:PM
  2. Blemain Finance Unfair Charges & Redemption Figure
    By Ruby50 in forum Welcome Forum
    Replies: 6
    : 19th February 2016, 22:18:PM
  3. Blemain finance unfair charges
    By dannyd04 in forum Money & Debt
    Replies: 1
    : 16th February 2016, 08:30:AM
  4. Unfair Blemain Finance Charges
    By dannyd04 in forum Welcome Forum
    Replies: 0
    : 8th February 2016, 22:34:PM
  5. Replies: 2
    : 19th March 2015, 09:34:AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Contact Us



© Celame (UK) Ltd 2017
LegalBeagles® are DPA Registered No. ZA158014
LegalBeagles® is the trading name of CELAME (UK) LIMITED ( 09220332 )
Registered Address: 25 Moorgate, London, England, EC2R 6AY
VAT registration number 206 9740 02
User Alert System provided by Advanced User Tagging v3.1.3 (Lite) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.
Feedback Buttons provided by Advanced Post Thanks / Like (Lite) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd. Runs best on HiVelocity Hosting.
Celame (UK) Ltd Powered by vBulletin® Version 4.2.3
Copyright © 2017 vBulletin Solutions, Inc. All rights reserved.

To find out more about managing your money and getting free advice, visit the Money Advice Service,an independent service set up to help people manage their money.

TOP