Ajay Ahuja at it again - Crash denial

chucky

justpaper wrote: »

I was just thinking the same thing, i thought this Ajay Ahuja was some kind of major market maker who is in denial, now that would of made a noble post,

but hes some random guy with a blog, pointless, let it sink

and if the "thank you" crew comes by this post, thank me LOL!

from just looking at this thread i get the impression that Brit has an obsession and knows too much about landlords and !!!!!!.

very strange!!

teabelly

brit1234 wrote: »

Ajay Ahuja - Crook & Fraudster




Ajay Ahuja - Crook & Fraudster

From his site

Buy your dream home with no deposit!

It is possible to buy your dream home with no deposit if you can satisfy one condition: You can get the property at a bargain price!

A bargain price is deemed to be 15% less than what the market value is. It is what us property professionals call Below Market Value or BMV for short.

So let us say your dream property is up for sale at £200,000 and you have utilised all your negotiating skills to get the price down to £170,000 due to the current climate (15% discount) then we can acquire that property for you without the need for a deposit.

Or let us say you see your dream property for sale for £170,000 and you know it is easily worth £200,000 then we can also get this property for you without the need for a deposit.

Now this assumes you can afford the mortgage. We can get you a mortgage with a well known lender which is 4.1 times your single or joint gross salary as long as you have a good credit score.

How can we provide this service?

Quite simply we:

1. know the lender that allows below market value zero deposit purchases for residential properties.
2. have solicitors who are well trained in this niche part of the industry who can handle a no money down transaction so it complies with the Council of Mortgage Lenders, CML.
3. Use an innovative scheme which ensures the value you put on a property you desire is backed up by the surveyor when they actually go and visit and value the property. This is a totally unique service which very few people know about.
4. Have a mortgage broker who knows how to package your mortgage application so that you get your mortgage application approved. This is priceless in the current conditions considering lenders simply do not want to lend unless you have lived your life like a nun!

http://www.ahuja.co.uk/property-services/dream-home-no-deposit/




Yes this is fraud. Having a surveyor going round to a home to value it at your choice so you can decieve the mortgage provider with the price paid lower than you declared is fraud by representation on behalf of the solictor and fraud by abuse of position for the Surveyor.:mad:

http://www.opsi.gov.uk/Acts/acts2006/pdf/ukpga_20060035_en.pdf

It isn't fraud if it complies with the cml handbook. There are legal methods that can be used that fully comply with anti money laundering and mortgage regulations. If the lender is informed there isn't anything untoward. The market value is entered in the land registry as technically that is the price paid. There are fraudulent methods out there that don't comply but if this is the one I am thinking of then it isn't. Option agreements and vendor deposit above 5% have all been basically ruled out.

The surveyor values it at open market value which will depend on what similar properties around have sold for. The system will only work when the purchaser has a proper idea of what the property is actually worth. It won't work if they are just picking random numbers.

I'd also be wary of calling someone a fraud by name on an internet forum as you could be making a libellous statement.

brit1234

teabelly wrote: »

It isn't fraud if it complies with the cml handbook. There are legal methods that can be used that fully comply with anti money laundering and mortgage regulations. If the lender is informed there isn't anything untoward. The market value is entered in the land registry as technically that is the price paid. There are fraudulent methods out there that don't comply but if this is the one I am thinking of then it isn't. Option agreements and vendor deposit above 5% have all been basically ruled out.

CML has nothing to do with it and does not superceed the Fraud Act 2006.

If the lender (say banks mortgage lender person) does know that the value has been overinflated to get a no money against the banks lending criteria and authorises it then they too are guilty of fraud.

Have a read of this times article, it will give you a better idea of whats been happening, scale, police investigations and effects.

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article2351316.ece

teabelly wrote: »

The surveyor values it at open market value which will depend on what similar properties around have sold for. The system will only work when the purchaser has a proper idea of what the property is actually worth. It won't work if they are just picking random numbers.

This is the leglislation in relation to the surveyor
Fraud by abuse of position

(1) A person is in breach of this section if he—

(a) occupies a position in which he is expected to safeguard, or not to act against, the financial interests of another person, (surveyor)

(b) dishonestly abuses that position, and (Use an innovative scheme which ensures the value you put on a property you desire is backed up by the surveyor when they actually go and visit and value the property. This is a totally unique service which very few people know about.)

(c) intends, by means of the abuse of that position—

(i) to make a gain for himself or another, or (payment for themselves, deal for Alluga group, and no money deal down for customer)

(ii) to cause loss to another or to expose another to a risk of loss. (exposure of risk to the lender)

(2) A person may be regarded as having abused his position even though his conduct consisted of an omission rather than an act.


The page is clearly highlighting a criminal act

teabelly wrote: »

I'd also be wary of calling someone a fraud by name on an internet forum as you could be making a libellous statement.

Yeah I know. But in this case he is clearly advertising criminal activities for members of the public to join in with him. He doesn't disclose the fraud to them but people should be made aware. I'll most likely latter carefully go through the web page and flag it up to the FSA.

The actual libellous stuff was about the !!!!!! which I now appollogise for.

teabelly

The ahuja residential scheme which is referred to uses a lender which allows bridging finance for purchase and instant remortgage. They lend on the valuation not the purchase price so if you buy at a large enough discount it is essentially no money down. I thought you were referring to the BTL nmd scheme he offers so some of my previous comments can be disregarded.

Essentially the property is purchased with the bridging loan at the normal below market value purchase price. This price goes into the land registry. A mortgage valuation is then done at whatever the market price is and then the mortgage is for the full amount which if you have done your sums properly covers your entire purchase costs. This is no different to buying with one mortgage then remortgaging later on to get your deposit back out. This isn't fraudulent. What might be fraudulent is the inference that valuations seem to be more flexible than they should be. Mortgage packagers can instruct with a specific valuation figure but again if the surveyor doesn't agree then that is that. When you remortgage your own home the lender usually asks you what you think it is worth. It is exactly the same process! The surveyor will either agree with what you said or value differently as they are given the figure you thought of in their instructions.

The BTL equivalent is different as there aren't any lenders that will do the instant remortgage any more. The surveyors aren't given anything different to what a normal residential purchase instruction would contain so there isn't any potential for fraud there as they are still free to disagree with any valuation figure imposed - and they do. The main difference is that the open market value ie the surveyor's value is entered into the land registry as that is the transaction value. The mortgage is based upon this and the lender is aware of where the deposit is coming from and if the purchaser is due any money back through equity ie the lower LTV.

ajayahuja

thank you for discussing my techniques.

Now with regards to fraud it is very easy for anyone on the outside to cast that accusation. However if you are priviliged to see how it works you will see that it is not fraud.

full disclosure is applied. the lender knows exactly what is going on.

if the surveyor gives a property a value then this is the value the lender will use to lend on. we do not bribe the surveyors and the survey is conducted at arms length.

what we do do is provide the surveyor with comparables and try to steer the surveyor to the value we need for the deal to be a No money down deal.

Let me tell you this only works 50 -60% of the time. when it fails we either have to renegotiate the deal or walk away. it is as simple as that.

we have now expanded to scotland as we have got approval from a solicitor that it fits with their systems now.

now this is the real big thing, so all those aspiring millionaires listen up:

SCOTLAND YIELDS!

so now you can do no money down high yielding property investment. if anyone is in property they will understand what i am talking about.

i plan to buy 1000 properties over the next 2 years as long as this dip in values remain. i can get high yields for my clients and they have to put very little in, sometimes cashback.

the market is better than when i first started. i needed to find deposits (by remortgaging). now i do not even need to do this.

to find out more or join my newsletter visit https://www.ahuja.co.uk

pandamonia

ajayahuja wrote: »

thank you for discussing my techniques.

Now with regards to fraud it is very easy for anyone on the outside to cast that accusation. However if you are priviliged to see how it works you will see that it is not fraud.

full disclosure is applied. the lender knows exactly what is going on.

if the surveyor gives a property a value then this is the value the lender will use to lend on. we do not bribe the surveyors and the survey is conducted at arms length.

what we do do is provide the surveyor with comparables and try to steer the surveyor to the value we need for the deal to be a No money down deal.

Let me tell you this only works 50 -60% of the time. when it fails we either have to renegotiate the deal or walk away. it is as simple as that.

we have now expanded to scotland as we have got approval from a solicitor that it fits with their systems now.

now this is the real big thing, so all those aspiring millionaires listen up:

SCOTLAND YIELDS!

so now you can do no money down high yielding property investment. if anyone is in property they will understand what i am talking about.

i plan to buy 1000 properties over the next 2 years as long as this dip in values remain. i can get high yields for my clients and they have to put very little in, sometimes cashback.

the market is better than when i first started. i needed to find deposits (by remortgaging). now i do not even need to do this.

to find out more or join my newsletter visit www.ahuja.co.uk

Please go hang yourself you bald idiot.

House is worth what someone will pay for it.

Cleaver

pandamonia wrote: »

Please go hang yourself you bald idiot.

At least he came on here to explain certain things without resulting to just slagging off everyone who slagged him off. Fair play to him.

I don't agree with him and I'm not sure who is lending him all the money. If I were a bank I'd look at his application and the lack of punctuation and capitals would imediately put me off.

pandamonia

He is basically a con man, how can you judge below market value in this climate?

Stick a pony in me pocket,
I'll fetch the suitcase from the van.
Cos if you want the best 'uns,
But you don't ask questions,
Then brother, I'm your man.
Cos where it all comes from is a mystery,
It's like the changin' of the seasons,
And the tides of the sea.
But here's the one that's drivin' me beserk,
Why do only fools and horses work?
La-la-la-la-lah
La-lala-la
La-la-la-la-lah
La-lala-la.



We've got some half price cracked ice and miles and miles of carpet tiles,
T.V.s, deep freeze and David Bowie L.P.s,
Ball games, gold chains, whassa-names, and at a push,
Some Trevor Francis track suits from a mush in Shepherds Bush,
Bush, bush, bush, bush, bush, bush, bush ...
No income tax, no V.A.T.,
No money back, no guarantee,
Black or white, rich or poor,
We'll cut prices at a stroke......
God bless Hooky Street,
Viva Hooky Street,
Long live Hooky Street,
C'est magnifique, Hooky Street,
Magnifique, Hooky Street,
Hooky Street

Cleaver

pandamonia wrote: »

He is basically a con man, how can you judge below market value in this climate?

I wouldn't say he's a conman any more than any other business that is trying to sell you anything in any climate.

I wouldn't go near his business with a sh*tty stick myself but good luck to the guy I guess.

Count_Dante

pandamonia wrote: »

He is basically a con man, how can you judge below market value in this climate?

Stick a pony in me pocket,
I'll fetch the suitcase from the van.
Cos if you want the best 'uns,
But you don't ask questions,
Then brother, I'm your man.
Cos where it all comes from is a mystery,
It's like the changin' of the seasons,
And the tides of the sea.
But here's the one that's drivin' me beserk,
Why do only fools and horses work?
La-la-la-la-lah
La-lala-la
La-la-la-la-lah
La-lala-la.



We've got some half price cracked ice and miles and miles of carpet tiles,
T.V.s, deep freeze and David Bowie L.P.s,
Ball games, gold chains, whassa-names, and at a push,
Some Trevor Francis track suits from a mush in Shepherds Bush,
Bush, bush, bush, bush, bush, bush, bush ...
No income tax, no V.A.T.,
No money back, no guarantee,
Black or white, rich or poor,
We'll cut prices at a stroke......
God bless Hooky Street,
Viva Hooky Street,
Long live Hooky Street,
C'est magnifique, Hooky Street,
Magnifique, Hooky Street,
Hooky Street

I'd like some carpet tiles and some gold chains like gangstas wear. Where do I sign!