hi all
took out a loan with Blemain on 25/09/07 ,is due to finish 25/09/2017
£11k loan ,interest charge £11,316.77 plus brokers fee £1375 and acceptance fee £310
all together £24,001,77
agreement states 120 monthly payments of £200.02 interest rate 14.40% variable
totals £24,002,40
have never missed a monthly payment ,
only receive a yearly statement ,
going on their calculations there will be a shortfall of at least £5,000
,have received the occasional letter that they will charge the account for not issueing them with a copy of buildings insurance straight away,
admin fee is always £30.00
and insurance charge is a contingency one ,
which they never say the cost and does NOT appear on the yearly statement,
all that appears on the yearly statement is interest charge 14.40% ,
They do however state they charge interest on what they consider to be late charges ,insurance charge being one of them ,mmmmmmmmmm £5,000 of extra charges over the loan period, me thinks they make rules up as they go along
so in short guys
last payment this month ,
there will be at least a £5,000 shortfall ,
so what do i do,
the debits should stop anyway
,but they will contact me about the ridiculous shortfall ,
who do i contact about this ,am getting in a right state about this
kindest regards
Robert