Tuesday, Dec 08, 2009

Buy-to-let club Passive Investments folds

Guardian: Buy-to-let investors fret as property firm fails

Amateur property investors fear they have lost hundreds of thousands of pounds in a buy-to-let club which is going into liquidation.
Sussex-based Passive Investments sold "portfolio builder contracts" for up to £59,995 each. It promised to use the money to purchase buy-to-let properties which it would rent out and manage, but also asked clients to periodically pay up to £7,000 extra into a "purchasing fund" to cover stamp duty and legal fees.

Posted by whatever @ 09:54 AM (1545 views)
Add Comment
Report Article

1 Comment

1. gone-to-colombia said...

Ah the wonderful price of greed and stupidity. May many more fail in the months to come.

Tuesday, December 8, 2009 06:51PM Report Comment
 

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Username  
Admin Password
Email Address
Comments

Main Blog | Archive | Add Article | Blog Policies