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Btletter In Trouble On Moneysavingexpert

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Why would you pay this guy £1200 to rent his flat when you could easily work out that his IO mortgage was £720 PM.

His maths has been wrong at every level.

I feel sorry for him actually, he was advised to buy off plan and flip before completion.

I would rather spend the £26K deposit on coke and hookers.

Hope he doesn't ruin his mother with this.

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He should count himself lucky if £26k is all he loses. That £238k new build flat is a prime candidate for a 70-80% drop when the London megabubble inevitably collapses in on itself.

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I'm torn between pity (because this guy was obviously a gullible little goldfish swimming in the shark pool) and contempt (because it's this kind of idiotic greed that means I can't afford a house big enough to start a family).

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"I have been given really bad advice here"

No you are a *****... and it is LOSE, not LOOSE you ****!

**** him. Gambled and lost. I hope he loses his deposit.

Edited by the.ciscokid

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I dunno, are you sure it's not someone from here??? I mean nobody is that thick! also, the way he suddenly pulled that Bradford business after 3 pages was a bit suspect.

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I dunno, are you sure it's not someone from here??? I mean nobody is that thick! also, the way he suddenly pulled that Bradford business after 3 pages was a bit suspect.

I had my suspicions too. Surely no one is that thick, to sign a contract without even bothering to check that he could get a mortgage?

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I'm torn between pity (because this guy was obviously a gullible little goldfish swimming in the shark pool) and contempt (because it's this kind of idiotic greed that means I can't afford a house big enough to start a family).

the same kind of jokers/gamblers who did this 5 years ago have been rubbing my face in it. As far as I am concerned if he loses his deposit then it's tough.

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I'm torn between pity (because this guy was obviously a gullible little goldfish swimming in the shark pool) and contempt (because it's this kind of idiotic greed that means I can't afford a house big enough to start a family).

Me too, although I admit it's probably leaning around 99.9% towards contempt though :lol:

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GMS, you've been to the point and thank you. I've been a complete idiot with regards to this. I thought investing would be safer. The investors I went with negotiated discount hence why I went with them, the equity in them once built... but like you say, my solicitors didn't warn me. Its all making sence now.

And recession or not, I would never get a mortgage... I feel like this has been a complete scam and I got sucked in and about to get blended in a liquidiser.

It gets worse because I have another flat I've put a deposit down on in bradford.

:blink:

I'm puzzled why a contract is even legal when it's known in advance by both parties that one party cannot perform.

Strange world.

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I have no sympathy whatsoever with him. He exchanged 18 months ago so it's not like dark clouds weren't very much on the horizon.

At the same time, encouraging him to put down the deposit with no hope of securing finance is deeply unethical if not criminal.

I guess they can keep his deposit and then pursue him for other costs.

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:blink:

I'm puzzled why a contract is even legal when it's known in advance by both parties that one party cannot perform.

Strange world.

but he can perform - he can give up his deposit

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They are probably happy for the deposit alone. Not if he could exchange.

I doubt it. This guy is probably the only chance they have of getting their 'reduced' (pre-inflated!) asking price.

There's been a few cases recently of developers chasing full price from customers who failed to complete.

Sucked in, chewed up and he'll be spat out.

If it's not a wind-up that is.....

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I doubt it. This guy is probably the only chance they have of getting their 'reduced' (pre-inflated!) asking price.

There's been a few cases recently of developers chasing full price from customers who failed to complete.

Sucked in, chewed up and he'll be spat out.

If it's not a wind-up that is.....

I hope it's not a wind up. I'd like to see this moron get sued for the full £200k+ :lol:

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I am puzzled about the 'investors' he mentions. Seems like he has been scammed by an 'inside track' sort of organisation. The fool talks about 'value' of property and 'discounts'. Greedy sucker! :D

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Oh crap he is buying one in bradford........like a rabbit crossing the M25 this kid is going to get flattened buy this greed induced gamble.

Well the rabbit might just get away with it.

This bloke won't.

What is all the talk of sympathy about? Most bulls would suck their teeth at what this idiot is doing.

And admitting online that he is prepared to commit fraud by renting out a property with a residential mortgage

how reckless is that?

Presumably the house he is already renting is on this basis - isn't there enough information (urban splash, financial amounts, locations) in the thread for the police to identify & presecute him?

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  • 143 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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