blemain finance warning post - BEWARE

meer53

BugsyBrowne wrote: »

I think I am actually the worst at advice and I certantly dont show no sympathy,I do believe it's best to come down on them as hard as.

I think the more entertaining threads have a good variety of posts, some helpful, some not quite so.

If you feel you need to come down hard on people, thats your choice, everyone has the chance to say their piece !

I really can't do with the posters who delete because they don't like the responses though.

suffeing

Back to what this thread was about. Blemain, they prey on the vulnerable they are not really intrested in whether you can make the repayments or not (jusst read their adverts) if you have enough eqity, for them to take off you, thats good enough for them. Once your on board they will do all they can to get it BEWARE OFTHE BLEMAIN FINANCE GROUP They do not operate in the same way a high street bank / lender does. The high interest rate is not all they will charge

Apples2

suffeing wrote: »

Back to what this thread was about. Blemain, they prey on the vulnerable they are not really intrested in whether you can make the repayments or not (jusst read their adverts) if you have enough eqity, for them to take off you, thats good enough for them. Once your on board they will do all they can to get it BEWARE OFTHE BLEMAIN FINANCE GROUP They do not operate in the same way a high street bank / lender does. The high interest rate is not all they will charge

So in summary - If you fail to repay a Secured Loan are likely to lose your house? Noted, VMT.

Cyril

I have a loan with Lancaster Mortgage group who are Blemain and I was given this loan via a broker.

The details provided by the broker were false and the guy has left the broker company ( isn't that always the way ).

I have tried for years to get information out of Blemain and at best their staff are hostile and uncooperative at worst rude liars.

I have never received one piece of information I have requested.

I have never been behind with a payment and they keep ringing me up asking if I want to borrow more money. Each time I tell them I don't trust them and wouldn't dare borrow more and the person says ' yes I understand' as if to say yes I know we have an awful reputation.

Never Never go near this Company.

Duke203

nacholibre wrote: »

i made the huge mistake of using this company , reccommended to me by ocean finance.

:rotfl: I know it's a few years old but that quote is simply diamond. Thank you op, wherever you may be now, for a genuine roaring belly laugh.

Iamready

I also took out a loan from Blemain finance in December 2009 with an interest rate of 17.8% for 22500. Would like to clear it off. Contract says I would have to pay £115.52 for every £100 borrowed. What I can't figure out is if this figure is £115.52 plus the £100 thus £215.52 or £115.52. Ie £15.52 for every £100 borrowed. Can anyone advise?

Regards

geoffky

Do a subject access request to them....cost £10... search what it means and understand it..I t might be the best £10 you will ever spend..

suffeing

No (Apples 2 ) wrong again! in summary applied for 50k loan against 500k equity 18 months later paid around 200k back
you could'nt make it up, you won't work it out, i think its called extortion. At least thats one of the terms my barristor used. all true so dont mock when people are tryimg to warn others. About Blemain finance my story will come out but its with my solicitor untill then.

blemainfinance

Happy Christmas, I’m new to the Forum, Just wanted to share my experience with Blemain and hope someone can suggest some options, I will briefly explain my situation.

I took out a loan in 2010 for £29500, With the fees the opening balance was £33815.00. After paying 22 monthly payments totalling £8300.00, I enquired to them enquiring why I have not received any loan statements and was advised its not something they normally send out but has to be requested.

I then requested my redemption figure and to my surprise my loan has somehow gone up even though I am on a repayment loan.

Anyway the figures quoted by them


Balance outstanding £34,241.80

Redemption Admin fee £195.00

Early repayment £2705.20 8%

Total £37142.00

Now the early redemption figure I knew is quite high and at the time I needed the cash so did not query this.

But what gets me is I don’t understand why my loan has not reduced, They have sent me a statement of my payments and something called Acturial Interest which changes every month.

Any advise will be greatly appreciated.