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Blemain Finance dont know where to start

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  • Blemain Finance dont know where to start

    Hi there

    My late mother has a secured loan on her property from Blemain Finance. I vaguely remember helping her to getting a loan as I was staying with her at the time and even though the loan was secured on her house her salary wasn't enough to pay it (she was a dinner lady) so they used mine as well. At the time mum was intending on selling her house and paying off the debts she had, one with Skiptons for 76,000 approx. and then the Blemain one which she got 4 years later. I always wondered how she was able to raise finance but I guess that they had the loans secured on the house so would get their money either way no matter whether it was affordable or not.

    Anyway in Jan 2019 I received a letter from Blemain saying that they had over charged the account because of an Incorrect calculation in Building Insurance premiums and were refunding charges of 275.49. I decided to order a SAR from them which they were good about and didn't charge for and once the magnitude of paperwork came through it made for shocking reading:

    Original loan was for 13,000 @ 19.3apr
    120 payments of 232.69
    Total payback 27,922.80
    This was over a 10 year period.

    They have stated that the loan to value was 40.48%

    On top of the loan was a :
    995.00 brokers fee (First Trust)
    455.00 loan acceptance fee
    Skipton arrears fee 481.84
    therefore the loan total was
    14,450.00
    Interest rate variable @ 14.95%



    Also after going through the loan even the my mother had building insurance she was charged to have Blemains buildings insurance as well. This equalled 477.36 over the time of the loan. I didn't think you were allowed to insure the same thing twice?

    There was also:
    444.00 of arrears charges
    90.00 on visit costs
    12.00 land reg charge for copies
    5.00 for a land reg priority search
    Online issuing fee 100.00
    Issue os possession proceedings 40.00
    Court preparation fees 59.00.

    Mums mortgage with Skiptons was for 76556.43 at a payment of 400.00 per month
    and
    Blemain at 232.69 per month

    Her salary without mine was 1000.00 per month plus tax credits.

    Blemain also wrote to mum about 276.00 charges that they had added but hadn't notified her of back in 2013 & 2014. They refunded the interest of this which was 47.00 in 2015 but surely that amount of charges would have put up the amount of loan thus the amount of interest chargeable for those 2 years before they refunded it back.

    Sorry this is so long but I am doing my best to add as much detail as possible here. Also for every 232.69 that was paid every month 179.37 was interest charges.

    Poor mum she never had a chance.

    The loan was cleared prior to mums death in 2015 when she sold her house.

    The early settlement figure was 14,451.27
    Repayment admin fee 195.00
    Building insurance charges to settlement date 371.00
    Costs and charges 1,1878.00

    Total settlement amount 16,205.63

    Mum struggled all the way through this loan to stay on top of the payments of 232.69 and her mortgage of 400 after adding it all up she paid off 8756.19 and then 16205.63 = 24961.82 for an original loan of 13,000.00

    Gobsmacked isn't the word! Also in their SAR a letter was enclosed saying that they are legally required to react or withhold certain info from the file. Also they are allowed to withhold certain information from inclusion in the request. They had also noted in their files that mum was a vulnerable person. Also even though they knew and had evidence that she was dying from cancer they still charged arrears charges early repayment fee buildings insurance again and further costs and charges.

    Once again sorry for the length of the post but I didn't want to leave anything out.

    I think I can claim back the building insurance ? but is there anything else ?

    Thank you










    Tags: None

  • #2
    Hi

    I just wondered if anyone has had a min to read my post?

    Thanks

    Comment


    • #3
      Originally posted by akania View Post
      Hi

      I just wondered if anyone has had a min to read my post?

      Thanks
      Blemain are awful creatures. Ive dealt with them a few times and they are a real nightmare to deal with. Their charges and fees were always open to challenge, they or their sister company were pulled up by the regulator for unfair charges.
      I work for Wannops LLP . I give my free time available to helping other on the forum and would be happy to try and assist informally where needed. Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability.

      If you need to contact me please email me on Ptilley@wannops.com . My firms initial advice is always free.

      I have been involved in leading consumer credit and data protection cases including Harrison v Link Financial Limited (High Court), Grace v Blackhorse (Court of Appeal) and also Kotecha v Phoenix Recoveries (Court of Appeal) along with a number of other reported cases and often blog about all things consumer law orientated.

      You can also follow my blog on consumer credit here.

      Comment


      • #4
        Ok that would be really helpful. Ill send you an email.

        Thanks

        Comment


        • #5
          So how would you go about challenging them on their charges?

          Comment

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