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Blemain Finance/Together

I took a loan ( mortgage) with Blemain in 2006 for £25,000 and it expires in April 2021. I have repaid almost £57k and now they say I still owe £12k because of interest and other charges. Has anyone taken these loan sharks to court and won? 

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  • DCFC79
    DCFC79 Posts: 40,614 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 25 February 2021 pm28 6:06PM
    I took a loan ( mortgage) with Blemain in 2006 for £25,000 and it expires in April 2021. I have repaid almost £57k and now they say I still owe £12k because of interest and other charges. Has anyone taken these loan sharks to court and won? 

    Why do you think you would win/have a case ?

    What are the interest and charges for ?
  • You won't win a court case if your argument is that a high interest loan costs you a lot of money to repay, you would have been given the figures in 2006 when you chose to accept them.

    A 15 year loan will always cost you loads of money given how much interest you are paying off vs how little capital. I did a quick sum and 25,000 at 18.5% APR will cost you £69,000 near enough
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