Secret Commissions?

sophiak

Hi

This is my first thread as I have just joined today, and not too sure that I have posted in the correct forum.

My question is that I have discovered secret commissions have been paid and would like to know what I do?

I have a loan from Blemain/Finance which was arranged by Ocean/Finance who were the brokers. I knew there was a fee of £1,750.00, broker fee payable to O/Finance but have received my Subject Access Request from B/Finance and there is information in there confirming a secret commission fee also has been paid.

Please could someone advise me on what to do next please.

jonesMUFCforever

Don't take a loan through them again?

Sorry but I don't understand your post.
If the information was freely available when you made your SAR why is it a secret?

sophiak

jonesMUFCforever wrote: »

Don't take a loan through them again?

Sorry but I don't understand your post.
If the information was freely available when you made your SAR why is it a secret?

Thank you jonesMUFCforever for your reply,

The hidden commission fee was not disclosed to me when I took out the loan with them. I only found out recently that an extra fee was paid when I received my SAR.

sophiak

I really would like some advice on what to do next please

CLAPTON

Are you saying that the costs of the loan to you were given in writing and that they are now charging you more

if so give the details

Robert_Sterling_3

Are you concerned that the brokers charged you a fee whilst at the same time they charged someone else a fee and that therefore in acting as your broker they might not be trying to get you the best deal.

sophiak

Blimey! forgot my password took me nearly half an hour to log back in anyway, tahnk you for your replies,

jonesMUFCforever

What is written in your loan documentation?

CLAPTON

where are you going with this?

what do what to achieve here?

sophiak

Loan documents says t.

sophiak

Hi clapton,

What I am trying to achieve is that Blemain Finance paid my broker an extra commission for arranging this loan for us. A commission that was not disclosed to us, sorry is I sound a bit confusing in my wording. The only fee payable to the broker was for £1,750.00 we did not know that Ocean Finance received extra commission.