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Re: Unfair relationship
Hi guys,
Im in the same boat as many of you and blemain bandits are not being helpful. I currently have a suspended possessions order which has been ongoing for approx 12 months +. My agreement’s are regulated by the cca 1974. I have done a SAR and they only sent me basic information. I have requested for the commission sheet which they are refusing to send and say its not considered as 'personal data' under the SAR request. I will send them a final letter before action under the provisions of Data protection Act,CCA 1974 and OFT guidance for brokers and lenders. Any advice before i send them the letter would be appreciated as i feel commission was paid to the broker and not disclosed to me.
I have added my agreement minus my personal information for others to view and help with my concerns which are as follows:
1- I have PPI added to the loan and was self employed at the time and was led to believe by having the PPI would increase my chances of obtaining the credit even when no benefit to my self employed status. The PPI was added to the sum of the loan and monthly interest charged. I believe this was missold and I can claim this back but would i also claim the interest incurred? loan amount was £10000 and ppi £1512 total loan £11512 at a variable interest rate of 9.8% which is curently at 10.4%.
2- Within the key financial information the
(a) interest rate is not documented and only the APR, which is different for the main loan 10.9% ppi loan 10.3% and total loan 10.8%?
(b) Does the interest rate also need to be within the key financial information or is it sufficient to be within the agreement but under other financial information?
(c) the interest rate is stated as variable to reflect the changes in the market and had changed once from 9.8% to 10.8% in 2007. If this is variable should it not also go down when the interest rate its offset against goes down be it libor/boe? It seems, as the libor/boe rates have gone down blemain have upped their rates to maintain the 10.8% which they have been charging me since 2007.
3- under other financial information it states the brokers fee as £0, i think a secret commission may have been paid here as the broker was a third party.
4- under other financial information it states loan processing fee of £250
(a) This amount was added to the loan but is not stated within the total loan amount in key financial information
(b) with the addition of this amount to the loan i have incurred interest which is not stipulated within the agreement bearing in mind interest for the main loan and ppi are stipulated.
5- I have been charged over £5000 buildings insurance since start of the loan in 2006 which is not stated in this agreement as this is a secured loan. I was charged buildings insurance approx after six months of the agreement till date. How would i argue these charges against these bandits. I undersand they have some t/c's for the buildings insurance but how can they be enforced if they are not within the main agreement?
6- I also have unfair extortionate charges for late and missed payment ranging from £30-£46 and plus agent visits of £100 which never happened. I would be looking to claim these back,
7- Under the heading your rights, Its says i should have recieved a copy of this atleast seven days prior to this agreement which i did not. I recieved a copy of this at the same time of the agreement.
The list can go on but would be keeping it brief for the time being. I believe their are many of us in the same boat and we should get our heads together to fight the financial crimes they are subjecting to us and to maybe even start campaigns to warn others of their actions. I would appreciate every little help on the matters and for those with a sharp eye is their anything within the agreement that ive missed?
Hi guys,
Im in the same boat as many of you and blemain bandits are not being helpful. I currently have a suspended possessions order which has been ongoing for approx 12 months +. My agreement’s are regulated by the cca 1974. I have done a SAR and they only sent me basic information. I have requested for the commission sheet which they are refusing to send and say its not considered as 'personal data' under the SAR request. I will send them a final letter before action under the provisions of Data protection Act,CCA 1974 and OFT guidance for brokers and lenders. Any advice before i send them the letter would be appreciated as i feel commission was paid to the broker and not disclosed to me.
I have added my agreement minus my personal information for others to view and help with my concerns which are as follows:
1- I have PPI added to the loan and was self employed at the time and was led to believe by having the PPI would increase my chances of obtaining the credit even when no benefit to my self employed status. The PPI was added to the sum of the loan and monthly interest charged. I believe this was missold and I can claim this back but would i also claim the interest incurred? loan amount was £10000 and ppi £1512 total loan £11512 at a variable interest rate of 9.8% which is curently at 10.4%.
2- Within the key financial information the
(a) interest rate is not documented and only the APR, which is different for the main loan 10.9% ppi loan 10.3% and total loan 10.8%?
(b) Does the interest rate also need to be within the key financial information or is it sufficient to be within the agreement but under other financial information?
(c) the interest rate is stated as variable to reflect the changes in the market and had changed once from 9.8% to 10.8% in 2007. If this is variable should it not also go down when the interest rate its offset against goes down be it libor/boe? It seems, as the libor/boe rates have gone down blemain have upped their rates to maintain the 10.8% which they have been charging me since 2007.
3- under other financial information it states the brokers fee as £0, i think a secret commission may have been paid here as the broker was a third party.
4- under other financial information it states loan processing fee of £250
(a) This amount was added to the loan but is not stated within the total loan amount in key financial information
(b) with the addition of this amount to the loan i have incurred interest which is not stipulated within the agreement bearing in mind interest for the main loan and ppi are stipulated.
5- I have been charged over £5000 buildings insurance since start of the loan in 2006 which is not stated in this agreement as this is a secured loan. I was charged buildings insurance approx after six months of the agreement till date. How would i argue these charges against these bandits. I undersand they have some t/c's for the buildings insurance but how can they be enforced if they are not within the main agreement?
6- I also have unfair extortionate charges for late and missed payment ranging from £30-£46 and plus agent visits of £100 which never happened. I would be looking to claim these back,
7- Under the heading your rights, Its says i should have recieved a copy of this atleast seven days prior to this agreement which i did not. I recieved a copy of this at the same time of the agreement.
The list can go on but would be keeping it brief for the time being. I believe their are many of us in the same boat and we should get our heads together to fight the financial crimes they are subjecting to us and to maybe even start campaigns to warn others of their actions. I would appreciate every little help on the matters and for those with a sharp eye is their anything within the agreement that ive missed?
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