Blemain Finance

[BlemainFinanceenemy1]

Re: Blemain Finance

Happy Christmas, I’m new to the Forum, Just wanted to share my experience with Blemain and hope someone can suggest some options, I will briefly explain my situation.
I took out a loan in 2010 for £29500, With the fees the opening balance was £33815.00. After paying 22 monthly payments totalling £8300.00, I enquired to them enquiring why I have not received any loan statements and was advised its not something they normally send out but has to be requested.
I then requested my redemption figure and to my surprise my loan has somehow gone up even though I am on a repayment loan.
Anyway the figures quoted by them

Balance outstanding £34,241.80
Redemption Admin fee £195.00
Early repayment £2705.20 8%
Total £37142.00
Now the early redemption figure I knew is quite high and at the time I needed the cash so did not query this.
But what gets me is I don’t understand why my loan has not reduced, They have sent me a statement of my payments and something called Acturial Interest which changes every month.
Any advise will be greatly appreciated.

[lachiemhor]

Re: Blemain Finance

Hi, read this from the FSA http://www.fsa.gov.uk/library/commun...2012/110.shtml

[funkyphantom]

Re: Blemain Finance

Would this http://www.legalbeagles.info/forums/...31-225-million help us to fight our case at all?

[Sickofbullies]

Re: Blemain Finance

To be perfectly honest, I would avoid this Company completely-they are terrible. I have had a mortgage with them for many years and they have been appalling-They use very nasty tactics. Avoid is my opinion.

RE Blemain / Lancashire Mortgage Corporation
If you have taken out a loan with this company, can you remember if you were messed about in the process. for example when i applied for a loan i was told it would be signed off in 48 hrs then the next day then this friday etc and so it went on for weeks untill i was getting desperate phoning the daily they sent wrong paperwork etc does this sound familiar or was it just me. last minute they changed the loan deal, Knowing i was depending on the loan. Hook Line & sinker comes to mind.
please post a reply or contact me.

[lachiemhor]

Re: Blemain Finance

2nd Chagre /mortgagesloans are coming within the remit of regulation but it will not be retropective, just like the change to the CCA rules. Harsh yes, but at least it MAY help others going forward. I certainly feel that this area of finance has been ignored by those in power irrespective of their political persuassion becasue it is so lucrative for those investining.

[gallahad]

Re: Blemain Finance

A change of government, judiciary and the financial establishment.
G

[suffering]

Re: Blemain Finance

Blemain Finance; this tread was started in 2007, and i read all over these forums of people over the years having serious problems with Blemains groupe of companies. The Big question is this! what is in place to stop a loan company preying on the vulnerable, offering unregulated loans, unaffordable loans, irresponsable lending, hiding commissions, excessive charges, using intimidating behaviour, conducting business over the phone to reduce the lenders evidence of misconduct. with-holding information, deliberatly keeping its customers in a state of arrears, delaying loan applications, giving misleading advice, causing confusion, using their own solicitors and receivers to remove families from thier homes to get their grubby hands on the hard earned equity HAS ANYONE OUT THERE GOT THE ANSWER?

[figaro123]

Re: Blemain Finance

what do the letters from blemain say

[lachiemhor]

Re: Blemain Finance

You are not alone hear suffering this was exactly the same modis operandi as I had and have the evidence to back it up.

[scorcherrosie2000]

Re: Blemain Finance

hi every one ,just getting ALL my letter and court paper back from solicitor that didnt do anything about blemain> any way reading back through i went to court twice !st time repossestion, blemain didnt turn up!! then again i went back in 2008, it was thrown out of court as uninvorcable, all blamains solicitors was sack ( preston) i had letter from them saying discontinued all case against me! and letter from court discontinued and stamped! i believed this was an end to it all. but few years later i start getting letters again from blemain. i am now trying to see what the citizens advice can do, any one understand were im coming from and can offer help i want this off my back asap, had enough.

[gallahad]

Re: Blemain Finance

If you have your own insurance cover but have not sent them a copy of it be wary as very often double cover often makes both insurances void.
G

[scorcherrosie2000]

Re: Blemain Finance

they just took their own insurance out!

[bluebottle]

Re: Blemain Finance

There are significant conflicts of interest, IMHO, where Blemain is concerned, particularly with their solicitors and receivers.

As far as buildings insurance is concerned, usually, it is the mortgagee who arranges their own buildings insurance and notifies the mortgagor of the name of the insurance company.

Problems can arise in the event of a claim if a building is "double insured". Were Blemain made aware that you had building insurance or did they add insurance regardless?

[funkyphantom]

Re: Blemain Finance

This company needs to be on 'Watchdog' or something similar!!

[figaro123]

Re: Blemain Finance

It is alleged that Blemain use excessive interest and charges for late payment. If this allegation is correct can this be challenged unfair relationship cases