Old Blemain Loan Now Together finance- they are killing my chance of a REmortgage

[Shamone]

The buildings insurance is to protect the secured building in case it is damaged or destroyed.

Do I just lay down now and pay them another £15k plus whatever interest they put on top of that over the time

[dx100uk]

can you please answer my question?

 

dx

[Shamone]

Apologies for the late reply

The issue i have now is i am looking to remortgage however because this is showing up because of the charges i will end up with a choice.

Stop the remortgage and fight them about the charges or repay them the entire charges in corporation with the remortgage and then try and pursue a claim against them to recoup what they have been paid.

Blemain Finance Secured borrowing details.pdf

[dx100uk]

On 20/10/2020 at 14:12, dx100uk said:

you say this is a secured LOAN, NOT a mortgage?

what are they doing charging you building insurance in conjunction with a secured loan?

please type out (minus anything that can ID you)

all the entries on your deeds that state blemain in them.

dx

 

[Shamone]

Nothing on the deeds, just the land registry to say there is a secured on the house.

Buildings insurance was stated in the small print as a necessary part of the loan.

 

Want is more funny is on the original loan documents i stated my wage to be £300 more than what it said on all my wage slips they received off me. They also paid some of the loan direct to the mortgage provider because were behind on our payments.

 

 The explanation of why they charged me an extra 8 years for PPI made me laugh, they stated that the PPI refund i got was for the entire period of the loan to which i received.

 

Even though i received around £4000 in ppi and the amount paid in 15 years without adding interest is well over £5,000.

[dx100uk]

a secured loan does not require building insurance, only a mortgage agreement can dictate that

nor PPI

nor any penalty / arrears letters and all the the other fees.

 

you'd do better to start a complaint with them about the mis selling of the buildings ins

 

the FOS will also go with that.

 

land registry is your deeds.

[Shamone]

Do you have anything i can refer too legally regarding this?

[dx100uk]

not it's the other way around

there is nothing, legally, that states they can charge it!

 

 

[Shamone]

Would this not still all be pushed to the side,

 

i signed a contract that stated i needed buildings insurance and that they can charge me for stuff.

If the contract stated i had to give blood would i not still have to adhere to it?

 

  It would be good to know what stand point i could use in regards to the miss selling of the buildings insurance,

i understand the angle you can go with PPI however would buildings insurance not protect their investment?

 

 Apologies for all the questions i just know how hard headed and stubborn they are and if i do not have something concrete i know they will just fob me off.

 

  While on the subject of this is there any letter layouts already on this site i can use in regards to the charges which i am sure is 99% of peoples problem with Blemain on here?

[honeybee13]

Lenders were told a while back that they couldn't force people to take out the lender's own buildings insurance. I'd have thought you could change your mind anyway.

 

HB

[dx100uk]

a secured loan does not need building insurance.

you've been scammed.

 

you would already have that on your main mortgage anyway...

you don't need it twice!

[AndyOrch]

Topic open.

[Shamone]

 i went down the route of claiming the loan was missold, i took the case to the ombudsman.

After 9 months they turned around and told me that at the time of the loan Blemain were not FCA regulated and as such cannot make a decision on it.

I am now left with charges occurring interest that they are now demanding payment for.

I literally do not know what to do other than start paying them again 

 To say i am thoroughly dejected would be an understatement.........

[Shamone]

I spoke about this issue a year or so back,

i had a secured loan with Blemain who then passed it to Together who took over Blemain.

Blemain were not regulated at the time we took the loan so i could not get them looked at for selling a loan we could not pay.

The loan was paid up in full by August 2020, we were then told that because we had no insurance they had to buy insurance for our loan term, also there were charges on the account for late payments etc. This came out at over £10,000 in additional charges, we stuck our head in the mud and started to repay them at £60 a week.

I recently stopped this payment when i learned only a quarter of what we were paying was taking down the amount we owed because the interest on what we owed was over £150 a month!

I am now considering speaking to a solicitor to try and fight this as i legally dont know where we stand.

We are trying to remortgage the house but they are still on the paperwork with a interest in the house.

 

[dx100uk]

theres not alot you can do sadly all these years later.

too late for any reclaiming etc etc

threads merged

did you have building ins on your main mortgage?

dx

 

[Shamone]

No we had no insurance, but i thought they couldnt force insurance on you?

So im stuck, i either pay them slowly, keep getting interest added on or i get the 10k and pay it all off?

[dx100uk]

looks like it.

shame you didnt answer that question 3 yrs ago when asked then you might have been in a better situation today get it paid off IMHO, its gotta be far cheaper in the long run?

 

dx