Blemain Finance Possession Claim

[jumper999]

Re: Blemain Finance Possession Claim

I also asked about Blemain's interest rate:

Under what circumstances would the interest rate reduce?

Their response:

The interest rate would be varied in accordance with clause 4 of the terms and conditions of the loan agreement ( Term 4: THE LENDER MAY VARY THE RATE OF INTEREST PER MONTH (AFTER ANY FIXED PERIOD) FROM TIME TO TIME TO TAKE ACCOUNT OF ACTUAL OR EXPECTED CHANGES IN MARKET CONDITIONS AFTER GIVING THE BORROWER NOT LESS THAN 7 NOTICE IN WRITING) The Claimant is a secondary lender, which must borrow funds in order to finance its loan agreement with individuals. The cost of funds to the Claimant is an influential factor in the Claimant's setting the interest rates under its loan agreement with individuals..

That is strange as I have a from Blemain sent Jan 2013....and they state:

OUR INTEREST RATES ARE CALCULATED IN PROPORTION TO OUR OWN FUNDING COSTS AND THEREFORE WILL NOT INCREASE OR DECREASE IN LINE WITH ANY OTHER INTEREST RATES ON THE MARKET SUCH AS THE BANK OF ENGLAND.

On one hand they say they will take in to account market changes then on the other they say they won't....now how misleading is that? Blemain have never advised me how they track or base their interest rates on.......and I do not have a clue how it is tracked....totally an unfair term.....and the UTCCR 1999 in my opinion can override a lot of unfair things that they have done.

Another thing I have received from them in a big bundle along with my Part 18 is documents which they have edited.....and I have proof of that.....

[jumper999]

Re: Blemain Finance Possession Claim

I have now received a reply to my Part 18 and still not any wiser than I was when I sent it.

I sent one question in my part 18....."Blemain have added £7,064.85 in legal costs to the loan agreement"

a. How have these legal costs been calculated?

b. What to these legal costs relate to?

c. How can Blemain add legal costs to the loan before a Court has decided if they are entitled to them or not?

This is the reply they sent.

Under clause 14 of the mortgage conditions and clause 2 of the t's & c's they are entitled to add these.

They then quote "The contractual terms reflect the established position at common law, pursuant to Gomba Holdings UK Limited v Minories Finance Ltd (No 2) [1992] 3 WLR 723, and under the Civil Procedure Rules, pursuant to CPR 48.3 PD Para 50.

What I should have asked is a detailed and full breakdown of these legal costs.

[jumper999]

Re: Blemain Finance Possession Claim

Thanks figaro123....................just preparing my witness statement and yesterday I posted off the further particulars the court asked. Just hope that they are alright.....as I am sure I did not have a clue to half of the things I wrote in there...lol.

[figaro123]

Re: Blemain Finance Possession Claim

Well done Jumper !!!!

[jumper999]

Re: Blemain Finance Possession Claim

Thanks sparkie I will look in to that with great detail....

[Sparkie1723]

Re: Blemain Finance Possession Claim

Hi jumper here is some stuff I am looking at....maybe assist on Swift and our B/H case.
Contract law works best when an agreement is performed, and recourse to the courts is never needed because each party knows her rights and duties. However, where an unforeseen event renders an agreement very hard, or even impossible to perform, the courts typically will construe the parties to want to have released themselves from their obligations. It may also be that one party simply breaches a contract's terms. If a contract is not substantially performed, then the innocent party is entitled to cease her own performance and sue for damages to put her in the position as if the contract were performed. She is under a duty to mitigate her losses and cannot claim for harm that was a remote consequence of the contractual breach, but remedies in English law are footed on the principle that full compensation for all losses, pecuniary or not, should be made good. In exceptional circumstances, the law goes further to require a wrongdoer to make restitution for their gains from breaching a contract, and may demand specific performance of the agreement rather than monetary compensation. It is also possible that a contract becomes voidable, because, depending on the specific type of contract, one party failed to make adequate disclosure or they made misrepresentations during negotiations. Unconscionable agreements can be escaped where a person was under duress or undue influence or their vulnerability was being exploited when they ostensibly agreed to a deal. Children, mentally incapacitated people and companies, whose representatives are acting wholly outside their authority, are protected against having agreements enforced against them where they lacked the real capacity to make a decision to enter an agreement. Some transactions are considered illegal, and are not enforced by courts because of a statute or on grounds of public policy. In theory, English law attempts to adhere to a principle that people should only be bound when they have given their informed and true consent to a contract.


....You might find something in this snippet.

Sparkie

[jumper999]

Re: Blemain Finance Possession Claim

On Blemain letters on the back is printed "Tariff of Charges" and under "Other Third Party Charges" it reads:

WE MAY APPOINT INDEPENDENT FIRMS TO CARRY OUT ARREARS, LITIGATION AND REPOSSESSION WORK ON OUR BEHALF. WHERE WE DO SO YOU WILL BE LIABLE TO PAY THEIR COSTS AND THEIR AGENTS COSTS AND THESE WILL BE ADDED TO YOUR LOAN ACCOUNT. THE COSTS OF THE FEES CHARGED WILL VARY DEPENDING UPON THE NATURE OF THE WORK THEY PERFORM. IF YOU WOULD LIKE ADDITIONAL INFORMATION ON THE NATURE OF THE WORK COVERED BY THESE CHARGES PLEASE CONTACT US"

Now, from just reading that information on its own it shows how unfair this is to the borrower and how much power Blemain have given themselves. They advise that they would provide information of the work covered by the charges and that is what I did...regarding the £7k legal costs they have added which I can assume relates to the above information....

BUT.........if Blemain are claiming £7k according to what their tariff states as it also relates to work carried out such as repossession work....why then would they instruct solicitors? You will see that Blemain all the costs would be added to your loan....now in their terms and conditions they also claim similar costs, charges, and other charges....but only a judge will agree if they are fair or not.

[Dougal16T]

Re: Blemain Finance Possession Claim

Phew!! at least one for the right direction.

I second that!!!

Best wishes all

Dougal

p.s. I gather it will be warm in July in Central London - so I may not need a coat!

[jumper999]

Re: Blemain Finance Possession Claim

Thanks planB.....lets hope I can keep the tide turning hey...I am really curious to see what response I am going to get for my Part 18.

[PlanB]

Re: Blemain Finance Possession Claim

At first I was not going to bring this up infront of the judge....but then thought that was one of the main reasons I applied for a directions hearing....so I asked the judge anyway....at first she said that these were the Claimant's legal costs...but I then told no....their legal costs are being claimed separately....and the £7k has been added to my loan and the court have not agreed that they are entitled to them yet....the judge then said I was right and asked me did I ask Blemain what these legal costs related to and I said I sent a Part 18 on 18 March which still has not been replied to. The judge then ordered that my Part 18 must be complied with by the 15 March 2013 and a full breakdown of what these £7k legal costs relate to.

I did find the judge take a very big interest and was on my side.

Looking good :whoo:

And these were the legal costs that Blemain wanted you to agree should be added to your loan (and therefore secured) as a condition of a SPO :rant:


I think the tide turned for you in this case today :high5:

[PlanB]

Re: Blemain Finance Possession Claim

. . . This must be the first hearing that I have ever been to where I felt that I was being represented by the judge herself.....she was absolutely awesome in replying to the questions from the Barrister...

The judge said that if I wanted to I could send a skeleton argument to the court.....but would not order me to...

All in all a very very good result.....on the way back from the court I popped in top Argos and bought a new lawnmower.....and I am going to cut my grass in a little while....as I am so so so happy at the moment and cannot wait for the order to come through the post of what happened today.

What a strange way to celebrate unless that's a euphemism for something I'm too old and boring to know about :hand:

If the DJ was telling you things you could do but wasn't actually ordering you to do them she was probably dropping hints while trying not to look biased at the same time. Take on board what she said :wink:

[jumper999]

Re: Blemain Finance Possession Claim

I must admit I did feel a little sorry for the lady Barrister as she looked so so tired....and the questions the judge was asking from her she did not have a clue....and looked so puzzled. The judge asked me if there was anything I wanted to ask and outside the court room I told the barrister that I did not understand what the sum of £7,000.00'ish of legal fees that have been added to my loan....she then said she would call her solicitors (Cantor Law) and they said that they would send me a response in the post.

At first I was not going to bring this up infront of the judge....but then thought that was one of the main reasons I applied for a directions hearing....so I asked the judge anyway....at first she said that these were the Claimant's legal costs...but I then told no....their legal costs are being claimed separately....and the £7k has been added to my loan and the court have not agreed that they are entitled to them yet....the judge then said I was right and asked me did I ask Blemain what these legal costs related to and I said I sent a Part 18 on 18 March which still has not been replied to. The judge then ordered that my Part 18 must be complied with by the 15 March 2013 and a full breakdown of what these £7k legal costs relate to.

That I am looking forward to seeing what Blemain reply with on this point. I also mentioned to the judge the buildings insurance that Blemain added to my loan....2 sets of buildings insurance added with in a year...one sum of £191 and another sum of £381....and the judge also found that was a bit odd and asked me if I had buildings insurance when I took out the loan and I said I did....and I have to supply a copy and proof of that and also I have to give evidence about my financial means at the time of the loan agreement.

I was not working....so will not be hard to prove that I was on benefits.

I did find the judge take a very big interest and was on my side....because she was asking the barrister many questions....and many of them the barrister had no answer to and kept saying that the Claimant's previous solicitors were dealing with the case....and she did not know answers to a lot of questions the judge was asking.

[jumper999]

Re: Blemain Finance Possession Claim

I now have to send further particulars as soon as possible....then crack on with my WS as it has to be in court by 12 June

[MIKE770]

Re: Blemain Finance Possession Claim

Phew!! at least one for the right direction.

[jumper999]

Re: Blemain Finance Possession Claim

I am sure your right sparkie...my judge was a lady...one I have had dealings with before.....but she was very good and I am going to get on to doing those further particulars as soon as possible....