Blemain Finance repossession Unfair relationship Unfair charges

[welshperson]

Re: Blemain Finance repossession Unfair relationship Unfair charges

Blemain has a ultimate parent company called jerrold holdings

The Linked companies listed below
　

JERROLD MORTGAGE CORPORATION LIMITED


　

BLEMAIN FINANCE LIMITED
FACTFOCUS LIMITED
PHONE-A-LOAN LIMITED
HARPMANOR LIMITED
MONARCH RECOVERIES LIMITED
SPOT FINANCE LIMITED
LANCASHIRE MORTGAGE CORPORATION LIMITED
SUPASHOW LIMITED
CHESHIRE MORTGAGE CORPORATION LIMITED
BRIAR HILL COURT LIMITED
GENERAL ALLIED PROPERTIES LIMITED
PROVINCIAL & NORTHERN PROPERTIES LIMITED
PRIVILEGED ESTATES LIMITED
PRIVILEGED PROPERTIES (NORTHERN) LIMITED
HEYWOOD FINANCE LIMITED
NORTH WESTERN PROPERTIES & DEVELOPMENTS LIMITED
BRIDGING FINANCE LIMITED
PROACTIVE BRIDGING LIMITED
CLASSIC CAR FINANCE LIMITED
HEYWOOD LEASING LIMITED
BRIDGINGFINANCE.CO.UK LIMITED
FINANCE YOUR PROPERTY LIMITED
AUCTION FINANCE LIMITED
MANCHESTER PROPERTY INVESTMENTS LIMITED
　

[IanM]

Re: Blemain Finance repossession Unfair relationship Unfair charges

["""2. Are they likely to have taken a secret broker fee from my loan/s, in addition to the declared one added to the loan/s? Are there any actual cases of people having found that Blemain paid a secret broker fee? If so why haven't these cases been reported, as they would invalidate the relationship and the case would surely have been reported? I would be extremely grateful to hear from you if you have evidence that they did this."""]


If there were any brokers fees to do with the loan it will be on the loan contract or on a letter from the broker explaining the relevant fees. There was a suspicion that mortgage applications were passed from one broker to another one that would package the mortgage application for a specific lender.

Example: You ask Blemain to find you a mortgage, they charge a brokers fee, they then find you another broker, Ocean Finance, that can offer you a specific mortgage and they will package the application and also charge a fee.

Same as: You ask Ocean Finance to find you a mortgage they charge you a fee, they then pass you to Blemain Finance that can offer you a specific mortgage and they will package the application and also charge a fee.

They both get paid a fee for something that one could do without the need for the other but because they know you can't go to a normal lender they take advantage and make out that because of say, adverse credit history, that is the only lender available and as you think they are doing you a favour you accept this and then end up with what may not be the best available mortgage for your needs at the time and will no doubt have a higher interest rate, this is now known as Mis-sold Mortgages.

The one that packages the mortgage to a specific lender will be paid a commission for introducing you to them.

[welshperson]

Re: Blemain Finance repossession Unfair relationship Unfair charges

Hi and welcome
　
Firstly well done on your research, for a newcomer I am impressed.
　
Now I may be able to help with information you require, but I will only give it on an open forum, the reason is that what I say I want to be available to everyone, what blemain have done that is wrong is already done (in the past) so in posting on an open forum everyone learns.
　
now answer the following questions
1 you say “ I have Blemain CCA secured loans on my home” dose it say on the top of your agreements consumer credit act regulated ?
2 have you got a suspended possession order from the courts ?
　
3 roughly when are you in court ?
　
4 go and find a copy of a default notice that blemain would have sent you before taking you to court, (this is important)
　
Now answers
　
　
　
1. Is it true that Ocean Finance, broker, were or are a part of the Blemain Group? These are the people who referred me to BG saying they were the only co that would lend to me, and at no time was I told they were part of the same group. Ocean called themselves independent!
Different companies
　

2. Are they likely to have taken a secret broker fee from my loan/s, in addition to the declared one added to the loan/s? Are there any actual cases of people having found that Blemain paid a secret broker fee? If so why haven't these cases been reported, as they would invalidate the relationship and the case would surely have been reported? I would be extremely grateful to hear from you if you have evidence that they did this. Yes they did pay the broker a hidden commission, I will give you this information but its late now.
　

3. In Dec 2012 Cheshire Mortgage Corporatation (CMC) were fined by the FSA for, among other things, the unfair practice of charging their customers fees of £100- £200 to transfer the debt to agents - Monarch Recoveries - which were in fact an in house company of the same group, so they were just passing it to a different floor on the building. They then charge interest at 10% to 1?% plus per year on these fees. CMC have been ordered to pay these charges back. Monarch recoveries weren’t on a different floor, they only existed as a name, they had no employees,
Someone would phone you in the morning and say they were from blemain, same person phones you in the afternoon and says they are from monarch,
The accounts filed at company house for monarch recoveries state that they have no employees


CMC is part of the same group as Blemain. Blemain has indulged in exactly the same practice. (Blemain CCA secured loans are not currently subject to FSA rules, but they are regulated by the OFT (Office of Fair Trading). A member company of the same group, with the same directors, housed in the same building, engaging in the same practice. So, surely, if the FSA has said the CMC charges were unfair, the identikit Blemain charges must also be unfair. Why have Blemain not refunded these charges to their loan holders? Every Blemain customer referred to Monarch must be entitled to a refund. You got the basics but this is much biger than I think you know.
　
　

4. Arrears charges imposed while a payment arrangement is in place. If a suspended possession order is in place, and the Order says that payment shall be on the 28th of the month, how can Blemain keep imposing arrears fees (£46 per loan per month), on a date earlier in the month, which was the original due payment date? They did not oppose the payment date on the Order. I am sure that I have seen a statement from OFT saying that arrears fees should not be charged while a payment agreement is in place. Could anyone point me to that? All their charges can be challenged as basically they are a penalty
　

5. The following is the only case report that I can find of a case subject to a court judgement, in which someone who was obviously in a vulnerable position at the time, had a second charge secured loan held to be unfair:
Barons Finance v Olubisi (Mayor's and City of London Court) 26 April 2010 - see OFT website:

There is a lot more than just case law protecting you from unfair treatment
　
Answer my questions above and find the default notice, it is more important than you realise


wp

[IanM]

Re: Blemain Finance repossession Unfair relationship Unfair charges

["""1. Is it true that Ocean Finance, broker, were or are a part of the Blemain Group? These are the people who referred me to BG saying they were the only co that would lend to me, and at no time was I told they were part of the same group. Ocean called themselves independent!"""]

I thought Ocean Finance were a lender not a broker, Ocean Finance were one of the lenders that Blemain used to steer customers towards probably as far back as 1999. Not sure whether Ocean Finance still trade or not, not heard of them for a while.