Blemain Finance

toshy

Thanks robbedofmymoney, yes they are charging interest on the charges. The APR was variable but it has not changed according to the statements they have sent me. I've requested a SAR....still waiting! I had hoped the letter containing the replacement loan statements was that. The period time they are allowed will be up soon, so I may still get the information.

toshy

Apples2 wrote: »

You'd have to post up full details of your loan.

How much, over what term, what APR, any payment holidays, any extras etc.

It was £14,000 APR 16.2% over 240 months, no payment holidays, secured against my home valued £290,000. Initial charges were: Brokers fees £700, Acceptance fee £300, Title insurance £150.
Since the start of the loan Block Buildings insurance £494 and Block Buildings Policy charge £195 have been added every year.
(My buildings insurance for the whole property costs me just over £300 p.a.!!)

toshy

I don't know if anyone else is interested, but I was just doing some searching and there also is a lot of recent comments about problems with Blemain Finance on a web-site called legal beagles. I cannot post the link but you will find it under forums banks others Blemain Finance. It is very interesting reading!

toshy

Up-date: In the last few months Blemain have reduced their charges. Check out the web-site and if you have been charged more than their current rates, it is worth requesting a refund.
They also are not registered to sell insurance, so if you've bought any from them make a claim to get it back.
Several customers have found that Blemain pay secret commission to brokers in return for gaining business. If this is the case for your account it can be claimed as a mis-sold loan or mortgage and invalidate the agreement.
Your loan could also be invalidated if they have asked you to make a self certification of income which cannot be verified from payslips.

jest

How do you find out if your broker got commission for introducing you to Blemain Toshy?

Cyril

I have a loan from these people via a broker and they are the worst I have ever dealt with. They never give clear answers to questions, never respond to letters and in fact everything it seems is done cloak n dagger to provide as little information as they can. Presumably because there are some sharp practices going on.

I have never defaulted on a payment but being with them really worries me as I'm sure i'll have problems in the future.

donnap83

Similar thing happended to my mum. We ended up getting a eviction notice, but mum had been to the CAB, whom inturn got her some legal eagel to go over all the paperwork with a finetooth comb. Turns out Blamain had been very naughty, added loads of charges etc that they weren't allowed to, and the loan got thrown out in court (think she owed around £60,000, all from an original loan of £10,000) They were also made to repay her around £7,000.

It was about 10 years ago, and I was only 18ish so don't know the in's and out's of her arrangements with Blamain, or what these charges etc were.

But in a nutshell, they are crooks!

Cyril

You mum is lucky she got some paperwork at all tbh.

The broker I dealt with has left the company and Blemain won't send any paperwork in connection with the loan at all.

I even spoke to a supervisor who ignored my request for a terms and conditions.