Taking action against property sourcing companies that owe you money

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Action Against Property Sourcing Companies that Owe you Money

Over the last 12 months Paul Shamplina from www.landlordaction.co.uk and Kate Faulkner from www.designsonproperty.co.uk have been trying to help people to work together when they have paid money to prpoerty sourcing companies who have not delivered a property, or worst still, gone bust. 
 
There have literally been hundreds of people being caught out. Some have lost £500, others £1,500, some £5,000 and some hundreds of thousands of pounds.

Unfortunately due to:-

1. The large number of people affected
2. The number of property companies/sourcing individuals involved
3. High level of paperwork work that needs to be reviewed to understand the issues
4. The legal complexities of the work
5. The expectation that the problem can be sorted with just a few phone calls or emails and money given back,

neither Paul nor Kate can help without charging at least £500 a day in costs. And neither of us want to take money from investors who have already lost money when we can't guarantee a return.

Answers to questions we've been asked to date after a few lines in an email of what the problem is and/or spending 30 minutes to an hour with each person on the phone, free of charge when we are both running full time businesses, just isn't possible.

The sort of questions people typically want answers to are, 'here's my problem', can you tell me:- 

What is the best course of action?
Is this person committing fraud?
What circumstances would a director be personally liable? 
What fees would it cost to get our money back?
In our circumstances can you guarantee we get our money back?
What are our chances if the company has gone insolvent? 
 
To answer these questions requires:-

1. You and the rest of the affected members of the group collating ALL your correspondence with the company/sourcer in one PDF file.
2. Collating copies of the companies terms and conditions
3. Findng information about any associations they might belong to
4. Collating copies of any contracts
5. Time spent searching and researching the company/person's website for background information 

To do this requires at least half a day's work per case.

Paul and I estimate there is a full time job for someone to deal with these cases for at least 12 months and unfortunately as we both have full time businesses to run, we cannot spare the time.

As a result, please find below two links:-

1. What you can do to report a company and get your money back.

2. What to do to set up an Action Group of your own.

If you have a property problem, then it may be that you share this problem with other people and if you get together to form an action group, then you can share the workload and costs involved.

NALS Conference Chair 2016

Kate's Consumer Portal

Propertychecklists.co.uk

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