please complain to the FCA about Blemain - need help

[blemianidiots]

Please file a complaint with the fca by sending an email to consumer.queries@fca.org.uk. We need as many complaints as we can so the fca will do something about this company. They are getting away with so much and there is no help for us poor people.

[Amethyst]

Re: please complain to the FCA about Blemain - need help

DO you have an issue directly with Blemain ?

Much as I appreciate your passion for people to make a complaint to the FCA about issues with Blemain, I'm not entirely convinced that posting on every single blemain thread on the forum is the best way to get your message heard.

For ref - Firm Name: Blemain Finance Limited - Interim Permissions Reference Number: 032328

Together is a trading style of each of the undernoted companies, which have their registered office address at Lake View, Lakeside, Cheadle, Cheshire SK8 3GW.
Jerrold Holdings Limited Registered in England and Wales - Company Registration Number 02939389. Jerrold Holdings Limited is the operator of this website.
Blemain Finance Limited is authorised and regulated by the Financial Conduct Authority in respect of second charge loans secured on residential property | Registered in England and Wales - Company Registration Number 01185052. Blemain Finance Limited is a member of the Finance and Leasing Association (FLA). The FLA Lending Code can be found at www.fla.org.uk.
Cheshire Mortgage Corporation Limited is authorised and regulated by the Financial Conduct Authority | Registered in England and Wales - Company Registration Number 02613335
Lancashire Mortgage Corporation Limited | Registered in England and Wales - Company Registration Number 02058813
Spot Finance Limited | Registered in England and Wales - Company Registration Number 01998543
Auction Finance Limited | Registered in England and Wales - Company Registration Number 04949929
Bridging Finance Limited |Registered in England and Wales - Company Registration Number 03166982
Phone-a-Loan Limited |Registered in England and Wales - Company Registration Number 01733267

[vicky160985]

Re: please complain to the FCA about Blemain - need help

Can I just add that Lancashire Mortgage Corp is an introducer appointed representative of Cheshire Mortgage Corp which is authorosed and regulated by the FCA. Simply put, do not dismiss any agreement with LMC as being unregulated right away. It could very well fall within the remit of the FCA yet! CmC are then responsible for LMC activity.

The hardest part I've found is knowing where my agreement "stands" with all this confusion!
I was quite troubled pnly yesterday when I was told by the FCA that they could not tell me if it fell within their remit or not despite my providing all relevant information as had been requested by them!!!

Its all so very unfair. Hands tied, lips sealed! Even were the regulatory body is concerned now too! Great isn't it.

What's that word used so often by the FCA? Consumer protection????

Yeah right!

[s1vet]

Re: please complain to the FCA about Blemain - need help

Hi,
I was introduced to a property agent and a broker at a property show in London in 2014.

The first flat I bought was a doddle and is still making me a small monthly amount.
The second property however has been a nightmare. I was told by the agent (Ward and Co.) that I had to move quickly and that their broker would arrange bridging finance.
I was worried about this but the agent reassured me that exit finance would be in place byt the time that the bridging finance was drawn down. That was in March 2015. It is now nearly two years and despite my best efforts I cannot remortgage as worryingly the apartment doesn't seem to be worth anything like what I paid for it! It was valued at £80k when I bought it in 2015. It is now apparently only worth £60k.

The bridging loan is with Lancashire Mortgages, rebranded now as "Together".

I complained about the fees and the renewal penalty fee but I was told that the internal complaint had found no wrong-doing.

I am totally trapped and feel that somewhere between the agent, broker, lender and valuer that I have been totally conned and I'm desperate and rapidly losing money.

I have begun to explore whether the FCA or Ombudsman would be able to assist me, but the letter from Lancashire states that they are not regulated and hence cannot be bought to task by these organisations.

I woulkd consider a class action if I can find enough people to bring a joint case against Lancashire/Cheshire for compensation and to free me of this horrendous loan.

Please can anyone help me further with this??

Best wishes
Simon

[s1vet]

Re: please complain to the FCA about Blemain - need help

Hi,
I was introduced to a property agent and a broker at a property show in London in 2014.

The first flat I bought was a doddle and is still making me a small monthly amount.
The second property however has been a nightmare. I was told by the agent (Ward and Co.) that I had to move quickly and that their broker would arrange bridging finance.
I was worried about this but the agent reassured me that exit finance would be in place byt the time that the bridging finance was drawn down. That was in March 2015. It is now nearly two years and despite my best efforts I cannot remortgage as worryingly the apartment doesn't seem to be worth anything like what I paid for it! It was valued at £80k when I bought it in 2015. It is now apparently only worth £60k.

The bridging loan is with Lancashire Mortgages, rebranded now as "Together".

I complained about the fees and the renewal penalty fee but I was told that the internal complaint had found no wrong-doing.

I am totally trapped and feel that somewhere between the agent, broker, lender and valuer that I have been totally conned and I'm desperate and rapidly losing money.

I have begun to explore whether the FCA or Ombudsman would be able to assist me, but the letter from Lancashire states that they are not regulated and hence cannot be bought to task by these organisations.

I woulkd consider a class action if I can find enough people to bring a joint case against Lancashire/Cheshire for compensation and to free me of this horrendous loan.

Please can anyone help me further with this??

[vicky160985]

Re: please complain to the FCA about Blemain - need help

Hi Simon,

Probably what you're best to know firstly is that Lancashire mortgage corporation has a parent company who is "responsible" for them.
They're correct in telling u that u can't complain to the fca because they're not regulated.
What they don't tell you is that you should put your complaint to Cheshire mortgage Corp, their "parent company" who are infact regulated by the fca.

If u click on my name, and go through my posts, you'll find plenty of info regarding this that I'm certain will help you out!

Let me know how u get on?

Vicky x

[suffering]

Re: please complain to the FCA about Blemain - need help

Lancashire Mortgage Corporation are/were regulated via Cheshire mortgage corporation. you may find that the fca will tell you on a phone call, but your complaint remains against LMC how much have they charged you as a renewal fee as you may be able to challenge it as being unfair. Remember a contract or fee's only have to be unfair not illegal

[s1vet]

Re: please complain to the FCA about Blemain - need help

Thank you for your reply, I was charge £2700 as a renewal fee which has taken my borrowing from £55k to £57.5k.

[suffering]

Re: please complain to the FCA about Blemain - need help

Thats your starting point £2700 renewal fee sounds excessive to me they will add it to your account then charge interest on it. They will say its written into your contract, your reply is, then it must be an unfair contract. They should not be charging interest on fees, charges and penalties. Ask them to justify their charges. and give you a break down. Have you sent them a SAR yet if not then do so. Challenge and question everything its your right to do so.

[veryannoyed]

Re: please complain to the FCA about Blemain - need help

Has the Lender signed the agreement if not I would be grateful of a copy to support my ongoing case.

[s1vet]

Re: please complain to the FCA about Blemain - need help

Thank you both for your attention, I am in the office tomorrow and I will address the SAR issue and also check the loan agreement and come back to you,
Best wishes

[s1vet]

Re: please complain to the FCA about Blemain - need help

Hi, if you can call a mark on the paper a signature then yes there is but it just looks like a letter "c" with a slight tail! I could scan and email it?

I have printed off a SAR which I will send to Together Finance "A Different Kind of Lender" (according to their recent letter!)

I will keep you posted

[veryannoyed]

Re: please complain to the FCA about Blemain - need help

Just take off personal information and account number and post on here.

[veryannoyed]

Re: please complain to the FCA about Blemain - need help

Anyone have a bridging loan from any part of the Blemain group ie LMC CMC Blemain or Bridging Finance with an agreement that actually states on the face of the agreement Bridging Finance. If so I would be very grateful for a copy as it will be very useful for my case. Also any agreements that have not been signed by the Lender. Cannot say a lot as my case is going to appeal.

[s1vet]

Re: please complain to the FCA about Blemain - need help

Hi
How can I attach a copy of the Bridging Loan agreement on here?

Hows the appeal going?