Blemain Finance Possession Claim

[Sparkie1723]

Re: Blemain Finance Possession Claim

Jumper have a read of this case ....Undue influence excellet for you IMO
Sparkie
http://www.publications.parliament.u...91021/barc.htm

[jumper999]

Re: Blemain Finance Possession Claim

Thanks sparkie I will have a look at that.....

[jumper999]

Re: Blemain Finance Possession Claim

I was reading a paragraph from the case attached below and see how Blemain admit that they lend on equity and not the person....still reading this case as it is quite long.....but confirms that it is equity lending:

c. Mr Stewardson, of Blemain Finance, accepted that Blemain at the material time was a sub-prime lender and did lend to persons with financial problems. He confirmed that for Blemain it was the value of the security, not the value of the person, which was important. They accepted self-declaration of income and would lend to a discharged bankrupt, though not (to his knowledge) to any undischarged bankrupt. He was cross-examined about publicity material which clearly suggested Blemain would be willing to lend despite other adverse lending: he said that the material was aimed at brokers and was intended to invite applications. But, he said, Blemain did have and apply their own criteria when considering a specific application, and "we would reject an application in a false name".



http://www.bailii.org/cgi-bin/markup...method=boolean

[jumper999]

Re: Blemain Finance Possession Claim

A paragraph from the skeleton I am doing...

Claimant’s Contributory Negligence


15.The Claimants' contributory negligence in failing to take any, or any sufficient steps, to protect their own interest; or make any or any sufficient enquiries, to enable them to protect their own interest, when entering the transactions now complained. Evidence supporting a finding of contributory negligence by the Claimant (Paratus AMC Ltd and another v Countrywide Surveyors Ltd [2011] EWHC 3307 (Ch) (14 December 2011).


a. Claimant’s failure to request any proof of Income from the 1^st Defendant.
b. Claimant’s failure to follow their own Underwriting and Lending Guidelines.
c. Claimant’s failure to follow the OFT 192 Guidelines for Lenders and Brokers.
d. Claimant’s failure to follow OFT920con General Guidance for licensees and applicants

[jumper999]

Re: Blemain Finance Possession Claim

I am trying to look for the case law below but no luck yet...can anyone help please?

Gomba Holdings (UK) Ltd v Minories Finance Ltd (No 2) [1993] CH 171

[jumper999]

Re: Blemain Finance Possession Claim

I am trying to work out some figures on my loan.....and trying to get my head around what is owed, how much I paid so far and how much Blemain have added in costs, charges and legal costs to date.

They have added £7,064.85 to my loan and are using their contractual right under the terms and conditions and also relying on the Gomba Holdings case above. The case has not been decided yet and they have added their legal costs to the loan...they are also claiming separate legal costs on top, which I do not know exactly how much in total they are, but in Jan 2013 I received a letter from Cobbetts LLP who were Blemain's solicitors then, and they advised me that their legal bill at that time was £12,840.00 + VAT and disbursements of £1,755.81 = £14,595.81.

Below I have roughly added what has been paid to date and the sums Blemain have added.....I need to add the £14,595.81 to the £56,968.23....mind you the sum quoted by Cobbetts back in Jan 13 will most likely be higher now as we had a directions hearing in May, and no doubt they will have added more to that. But for now these are the figures I am looking at.

SUM LOANED = £35,000.00 + £2,672.00 (BROKERS FEES ETC) =£37,672.00

TOTAL PAYMENTS MADE TO DATE = £14,378.04

£37,672.00 - £14,378.04 = £42, 590.19

£42,590.19 + £7,064.85 (contractual legal costs) = £49,655.04

£49,655.04 + £2,165.67 (contractual costs & charges) = £51,820.71

TOTAL SUM OWING ACCORDING TO BLEMAIN AT 28 MAY 2013 = £56,968.23

£56,968.23 + £ 14,595.81 = £71,564.04


So if Blemain can justify all the sums above which the are entitled to after everything they have done, then I don't see why I should have any problem explaining why they shouldn't be entitled to them.

I know it is not going to be easy, but I have to try and keep going.

[jumper999]

Re: Blemain Finance Possession Claim

This is suppose to be a repayment loan, variable interest rate loan....but seems the more I pay the more I seem to be owing.

Interest on the loan is 9.8%....and I need to add and calculate all the figures accurately to take with me to the hearing to show the judge.

Worse case scenario if I lose hopefully I can rely on the Norgan case and spread the repayments over the remaining of the term, which I have approx 19 years left....

but I truly believe that no way will the court let Blemain win 100% no matter how nervous and all over the place I may be feeling getting everything together.

I have put some figures in to a mortgage calculator and this is approx what I would be looking at if I lost my case:

Mortgage required: £71,564.04

Repayment period: 19 years

interest at 9.8%

monthly repayment: £703.51

presently I am paying the contractual repayments of £335.76 plus £30 towards the arrears each month = £365.76

my payment would almost double and I would have to pay an extra £337.75 on top of what I am paying already.....wowwwwwww...this is getting better and better

[TUTTSI]

Re: Blemain Finance Possession Claim

Hi Jumper, please take a look at this thread http://www.legalbeagles.info/forums/...looking2-share-( it seems that there is lots going on with Blemain at present including TV, Ms Vaz etc. This person is not giving too much away on his post but enough to wet our appetite. Just be careful what you tell him and let him tell you what he knows and if anything which could help you hun. xx

[jumper999]

Re: Blemain Finance Possession Claim

Thanks Tuttsi, I have read the ;link and certainly sounds very interesting...I will post on there and ask some questions....strange how I missed a thread about Blemain lol...hope your enjoying the lovely weather.....

[jumper999]

Re: Blemain Finance Possession Claim

To bring an end to this thread I would like to say after been resolved betweesuccessfully and satisfactorily.

It is has been a long road I have traveled and all I can say is I am very pleased that

I would like to thank each and everyone who has put input on my thread.

xx

[MIKE770]

Re: Blemain Finance Possession Claim

Phew!:clap2:

[jumper999]

Re: Blemain Finance Possession Claim

What a.is all I can say.....which for me will ho down in history.....so pleased all

[TUTTSI]

Re: Blemain Finance Possession Claim

That's absolutely fabulous new hun and really pleased you got the result that you are happy with. I just hope that you are not picking up Blemain's legal fees?

To bring an end to this thread I would like to say after being in court all day with Blemain matters have been resolved between both parties successfully and satisfactorily.

It is has been a long road I have traveled and all I can say is I am very pleased that it is all over!

I would like to thank each and everyone who has put input on my thread.

xx

[jumper999]

Re: Blemain Finance Possession Claim

Cpr rules will not allow to say....sorry..tuttsi. main thing can move on...

[PlanB]

Re: Blemain Finance Possession Claim

To bring an end to this thread I would like to say after been resolved betwee successfully and satisfactorily.

OMG. How did I miss this post. Jumper this is brilliant news :high5:

Are you able to post the outline of your settlement or have you signed a gagging clause :censored:


Your High Court hearing was due this week. Did you settle before the hearing or when you arrived at the court or after the judge sent out a signal that Blemain were not in his good books so they backed down at lunchtime?