Anyone with a mortgage in the format that mine is in should legally be unenforceable!

One_Day_A_Winner

Henry Moser, believed to be one of the top 100 wealthiest men in England is selling his major steak in the finance group he started in 1973. I have been in a duel with them for over 18 months now regarding Unenforceability. Technically anyone with a mortgage in the format that mine is in should legally be unenforceable, (this includes any of their umberella companies and any other companies that use the same format), although their argument is that their format of such contracts are set in an orthodox way and so should be allowed to continue.
I have a small mortgage of £7000.00 secured on my home, and have tried to fight them so that I will not have to pay any unfair charges or be intimidated and also not have to pay what is left that I owe, which is around £3000,00. Unfortunately the Judge at the last hearing could not make a decision, If he made the decision that it is unlawful, there are possibly tens of millions of pounds at stake, if others followed my lead. So now it has gone to full trial stage and will be at least 1 full day in the courts, possibly two. I cannot afford such costs and I have not been sufficiently informed of the level of costs that have already been incured and the costs are rising. Their side has top legal lawers on the case and want me to now pay them £24000.00 as settlement. They have been informed that I cannot keep up this level of fight as I have very limited pockets. It is taking all the equity from my property as a result of not being properly informed at appropriate times; I would have settled a long time ago if I had realized. I have recently been informed by my Barrister that if I did win they, as a matter of principle and bottomless pockets they would surely go for a re-trial, this alone will cost me a further £20000.00 minimum. Does anyone have any advice they can give me. I hope that someone with a larger mortgage than myself would take on these people... see following info


Monday, 19th June 2006
Founder to net £260m
HENRY Moser, the boss of Manchester-based lending house Blemain Group, is edging closer to selling a majority stake in a deal which could net him around £260m. Barclays Private Equity is reportedly set to win a bidding battle for the business.

Blemain specialises in secured lending to residential and commercial customers and completes more than 1,000 cases a month.

Publicity-shy Mr Moser founded the business more than 30 years ago and is one of the richest men in Britain, with a fortune estimated at around £150m before the sale.

The group employs more than 200 people but is often described as one of Manchester’s best-kept secrets.



Anyone wanting to know more about my case or with any advice on how to complain, (efficiantly) about the lack of information given with regards to sums I could possibly incur, please let me know, I really need some good advice!...
I wonder if this case might be of interest to Martin?

Leon_W

Not sure I follow your whole argument but why will you not pay what you owe ? I know a lot about Blemain. Did you go through a broker or direct ?

They are the lender of last resort as you are probably aware, but I have had satisfied clients.

One_Day_A_Winner

Due to them partly puting me in a situation that should not have happed; Into arrears. They have also charged me for insurance I did not need and have been very unhelpful with giving out information. I will provide more info soon but for now must go! Hope to speak to you soon reg this case...P.s Long live Liverpool!

One_Day_A_Winner

Leon_W wrote:

Not sure I follow your whole argument but why will you not pay what you owe ? I know a lot about Blemain. Did you go through a broker or direct ?

They are the lender of last resort as you are probably aware, but I have had satisfied clients.

I went through a broker.
Due to them partly puting me in a situation that should not have happed; Into arrears. I was contacted by them about two months into the loan and was guaranteed an extended loan, because I was good for credit due to the size of equity in the property, and as I believed they must be sure about this I spent what I had on repairs and a security system on the property. I waited for the papers to come through and of course they didn't. After contacting them they told me that I could not borrow any further money until after 6 months; incidentally after 6 months they said I could not borrow any more money for a further 6 months. I became in arrears fairly shortly after I took out the loan, I was targeted by a sales team and left to deal with a rather heavy situation as they took no time at all 'in having a go'!

They have also charged me for insurance I did not need, 2 seperate years, (even though this was brought up in court) and I would bnot be covered, only they! have been very unhelpful with giving out information, claiming breakdowns were attached with letters that were completely lonely! This has gone on for four or so years now, and I did not realise the severity of costs until after the 'main' court hearing in July.

Now I realise that I could never won this case due to their size. My solicitor has informed them of my extremely weak financial state which I am a little angry about. I feel like I have been on a rollercoaster ride told that it is nearly over and then been told that their is a penalty of £ £24000 to get off! What I cannot understand is why I was not informed of the financial severity of the next loop the loop!

dmg24

I am also failing to see your argument?

regularsaver1

me too - how can someone else put you in arrears. can you explain more

HelpWhereIcan

Ok, let's see now.

One_Day_A_Winner wrote:

I was contacted by them about two months into the loan and was guaranteed an extended loan, because I was good for credit due to the size of equity in the property,

I take it you have evidence of this guarantee and that the call was from Blemain and not the secured loan broker looking for more business and forgetting that Blemain will not do more in the 1st 6 months. I deal with Blemain and know that they will do nothing extra for at least 6 months.

One_Day_A_Winner wrote:

and as I believed they must be sure about this I spent what I had on repairs and a security system on the property. I waited for the papers to come through and of course they didn't.

Would you not agree that spending money before you had even signed an agreement was a little reckless?

One_Day_A_Winner wrote:

After contacting them they told me that I could not borrow any further money until after 6 months; incidentally after 6 months they said I could not borrow any more money for a further 6 months. I became in arrears fairly shortly after I took out the loan, I was targeted by a sales team and left to deal with a rather heavy situation as they took no time at all 'in having a go'!

So you go into arrears shortly after taking out the loan and are surprised that they will not lend you any more?

Even if you were disappointed at not being given the extra, did Blemain then force you to miss the repayments?

Why are you surprised that a lender would chase you for repayments that you have not made? No matter if you had already spent the money you borrowed, you still need to make the repayments.

One_Day_A_Winner wrote:

They have also charged me for insurance I did not need, 2 seperate years, (even though this was brought up in court) and I would bnot be covered, only they! have been very unhelpful with giving out information, claiming breakdowns were attached with letters that were completely lonely!

This I do have some sympathy for as secured loan companies are well know to have overcharged for insurances in the past and are known to have added them automatically without even checking to see if the customer would be eligible to claim.

One_Day_A_Winner wrote:

This has gone on for four or so years now, and I did not realise the severity of costs until after the 'main' court hearing in July.

And your solicitor did not warn you of costs, send any interim statements of their costs? Have a word with them not Blemain. Unless the court finds against them, Blemain have no responsibility for your legal costs.

One_Day_A_Winner wrote:

Now I realise that I could never won this case due to their size.

I think you need to be mad with your solicitor not Blemain. They could have advised you of the likely strength of your case before you even proceeded.

One_Day_A_Winner wrote:

My solicitor has informed them of my extremely weak financial state which I am a little angry about

I think they have probably done you a favour by putting Blemain off pursuing you for their costs fighting the case.

One_Day_A_Winner wrote:

I feel like I have been on a rollercoaster ride told that it is nearly over and then been told that their is a penalty of £ £24000 to get off! What I cannot understand is why I was not informed of the financial severity of the next loop the loop!

Again, I think this is a question for your solicitor not Blemain.

Gorgeous_George

Why can we not have a mandatory financial qualification for anyone wanting to borrow mpore than 50p? Maybe NVQ?

GG

dwight-van-man

Cant see why my post got deleted when this whole thread is rehashed nonsence. See ya....

Avoid_Blemain

I used to work for Blemain. I would urge anyone who is considering taking a loan from this outfit to take stock, if you are in such a dire situation that you need to take one of their loans, go to Citizens Advice or the CCCS.

Or ignore the above and wish you didn't in 12 months when they try and screw you over.

Also be careful when selecting a mortgage or secured loan broker (again I used to be one). Ony use one that you wholly trust - there are loads of liars, cheats and con artists in this trade.

RESEARCH before you buy to avoid future heartache.

_Andy_

This exact same thread has been done before, quite a while ago. Exactly the same thread title if I recall correctly.