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gts
Junior Member
Join DateMar 2014Posts0Thanks (Given)0Thanks (Received)0
Blemain Finanace: Any Suggestions
I will make it as concise a possible, 17/10/13 lost my Post Office & store, therefore unemployed even now. As a result arrears have been building up on both Birmingham Midshires Mortgage and Blemain Finance Loan. Found no win no fee architect who will await payment until plot is sold. He managed to successfully obtain planning permission for the plot which is part of the garden of the original property to which the mortgage and loan pertain. Valued at £75000, found cash buyer in two days, thought that this was a eureka moment, how wrong. Was taken to court by Birmingham Midshires for a repossession order which was granted for a period of 56 days only 8 days left.But this could be remedied by sale of land and once arrears were cleared by sale of land everything was okay. However Blemain whom are have continued to make part payments to during this period have decided that I need to pay almost £70000 in order for them to release the charge on the land. Which now leaves me in a situation whereby I would not have sufficeint funds to pay Birmingham Midshires arrears , the conveyance fees to the solicitor and the estate agent. I have offered £37500 cash plus what I already paid £72000 which is a total of £109500 on a original loan and fees of £88000, and agreed to continue paying towards the remainder. So as you can see I am backed into a corner, after thinking I had avoided repossession if this goes forward I will still have to sell my home in order to start paying the dear architect and others.
Complex, I Know, but has anyone got any suggestions, I have taken legal advice, conclusion Blemain are aggressive but legally can be.
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