Blemain Finance

[magiciansgirl]

Re: Blemain Finance

Just came across this; Blemain happy to take over someone else's second charge (ie sub-prime) business, the *******s. On a website called 'Mortgage Introducer' aimed at brokers...

Blemain Finance may be able to help

11 March, 2009

Following the sudden withdrawal of the igroup 2nd charge product range on 5th March, Blemain Finance has offered a helping hand to brokers who have been caught out by this sudden announcement.


Speaking on behalf of Blemain Finance, Director, Gary Bailey, said: “We greatly regret that GE Home Money has decided to withdraw its igroup brand from the 2nds market and hope to see it recommence lending soon.


“Blemain Finance operates in a very similar area of lending to igroup and we are therefore well positioned to help brokers who have been caught out by igroup’s withdrawal. We still have a strong appetite for new lending with excess funds available. Our distribution channels are expanding rapidly, with new brokers being accredited to package daily. “We cater for all income sources including self-cert, any property and any status of client up to 75% LTV. Similar to igroup, our product range caters for a wide spectrum of clients, from those with good credit histories to those who have had difficulties in the past, so we are well placed to assist brokers who have been affected by igroup’s departure.”

These people should be stopped.....

[grimbell]

Re: Blemain Finance

They probably have "excess funds" thanks to their high interest rates (mine is still14.90%) and all their charges at £35 per go!

[magiciansgirl]

Re: Blemain Finance

Hi Grimbell, quite!

[frankly honestly stuffed]

Re: Blemain Finance

I would warn very strongly against ignoring letters from Blemain. I did this last year, then all of a sudden I had a Court Case and a Warrant for Possession. They are totally utterly ruthless. They have levied all kinds of extra charges without justification, just to make it even harder to pay.

Also the Court Case was over in 2 minutes flat. The District Judge ignored everything i said, I even offered to swear on the Bible that I was telling everything absolutely honestly. He just smirked and told me that it was still no evidence.

So I guess they have some influence over our legal process. I am still fighting them now, with the help of some very good friends, but I think they may well get our home anyway.

I read they are part owned by Barclays, who seem not only beyond the law and the reach of our government, it seems they somehow control it. This is not the free country we thought it was.

[stressedout]

Re: Blemain Finance

I would warn very strongly against ignoring letters from Blemain. I did this last year, then all of a sudden I had a Court Case and a Warrant for Possession. They are totally utterly ruthless. They have levied all kinds of extra charges without justification, just to make it even harder to pay.

Also the Court Case was over in 2 minutes flat. The District Judge ignored everything i said, I even offered to swear on the Bible that I was telling everything absolutely honestly. He just smirked and told me that it was still no evidence.

So I guess they have some influence over our legal process. I am still fighting them now, with the help of some very good friends, but I think they may well get our home anyway.

I read they are part owned by Barclays, who seem not only beyond the law and the reach of our government, it seems they somehow control it. This is not the free country we thought it was.

I know exactly how you feel! I'm fighting them at the moment over possession - constantly harass me by telephone even though we have asked for communication to be in writing, they just ignore this. I've had two calls this morning and a letter pushed through the door - I fear that we will lose our home to these shisters! Haven't offered us any help at all.

[grimbell]

Re: Blemain Finance

hi stressedout

Do you record the phone calls? You should if you can and supply copies to the court. Make sure you have a copy of charges added to the account as well.

Good luck

[grimbell]

Re: Blemain Finance

hi


I have now received my first ever statement from BF and I am so angry!
All the paperwork I have ever had from them including the latest letters re charges added state the interest rate is 14.90% but on this statement which is from Oct 2008 it states the interest rate as 15.40% and after 3 years my balance is 1k down on total amount borrowed.
They have also charged 1k for broker (which i didn't know i had used as I phoned them direct) despite the agreement stating the amount as £950.

Don't know where to start but need to complain somewhere.

[trusco]

Re: Blemain Finance

If you are talking about "hidden commission payments" i seem to remember a bloke by the name of Andrew Oaks of Capital Law (Cardiff) putting together a Group Action against the likes of BF. Ill get an update from him next week to see what progress (if any has been made).

[grimbell]

Re: Blemain Finance

Hi trusco

That would be very interesting but I don't know if this would be anything to do with hidden commission as the broker they stated was phone a loan and I as far as I remember the application was done in one phone call directly to BF.

What I am concerned about is the change in interest rate and the £1300 in charges that are having the same rate of interest added.

[grimbell]

Re: Blemain Finance

Hi trusco

Have you managed to get an update?

I did e-mail Capital Law about this but have not had a reply.

[trusco]

Re: Blemain Finance

No reply as yet....Ill chase up again.

[magiciansgirl]

Re: Blemain Finance

I know about this. I rang Andrew Oaks at Capital Law in February. He told me that there is no class action. Basically a claims company called givememymoney are using Capital Law as their preferred solicitor on a number of cases, some of which are with Blemain. He said very little had happened then as Blemain were not coming up with paperwork - quelle surprise. Although I had said I was not interested, I then received an information pack from the Givememymoney people and they charge 25% of anything they get back plus a 'telemarketing' fee of £100. Sorry to dash any hopes.

[grimbell]

Re: Blemain Finance

Hi magiciangirl

That's a shame I was really hoping someone was going to tackle these barstewards.

[magiciansgirl]

Re: Blemain Finance

I know about this. I rang Andrew Oaks at Capital Law in February. He told me that there is no class action. Basically a claims company called givememymoney are using Capital Law as their preferred solicitor on a number of cases, some of which are with Blemain. He said very little had happened then as Blemain were not coming up with paperwork - quelle surprise. Although I had said I was not interested, I then received an information pack from the Givememymoney people and they charge 25% of anything they get back plus a 'telemarketing' fee of £100. Sorry to dash any hopes.

Gosh sorry Pkea, I hadn't realised that the name of the company would automatically come up as a link; not advocating them in any way and was disappointed that they are a claims company!

[Paule]

Re: Blemain Finance

Gosh sorry Pkea, I hadn't realised that the name of the company would automatically come up as a link; not advocating them in any way and was disappointed that they are a claims company!

lol, no probs, dont worry about it