Conned out of £5,000

liz_giles

A financial adviser introduced me to his friend who appeared to be offering a good property to sell. I was asked to put down £5000.00 or loose the sale. As I understand it that sum 'secured' my right to buy.

The financial advisor then could not sort me out a mortgage and now the owner says my deposit was not refundable. I did get a written receipt for my money but it does not say non-refundable neither was I told this when I first viewed the property.

What are your views please?????

Blackpool_Saver

not quite sure this is a genuine post, however, if it is, what did your solicitor say?

dunstonh

The FSA doesnt like financial advisers recommending unregulated schemes. However, property doesnt fall under that remit. It doesnt matter if its an FA, a chef or a mechanic. The occupation doesnt matter unless the FA made a formal recommendation as part of their business.

The turn of events doesnt sound right. When you buy a property, you dont put a deposit down unless its a new house. If you do put money down, then you do it via a solicitor. So, what does your solicitor say?

liz_giles

Blackpool_Saver wrote: »

not quite sure this is a genuine post, however, if it is, what did your solicitor say?

I talked to several solicitors and they gave different opinions and all concluded that their fees would mount up to more than the amount. One was really kind and said go away and prepare the evidence of your case for Small Claims and I will check it for you. That's as far as I have got so have spent today collating every note I took into one long stream of events and opinions and a friend is going to help me prepare my witness statement and I also researched the legal aspects on the web today. An advice centre suggested a blog on here. What is your view? Are you a lawyer?

liz_giles

Oh yes its genuine post. An advice line suggested I tried the forum to see if there are some interested legal folk out there who might have come across something similar happening to someone else.

liz_giles

dunstonh wrote: »

The FSA doesnt like financial advisers recommending unregulated schemes. However, property doesnt fall under that remit. It doesnt matter if its an FA, a chef or a mechanic. The occupation doesnt matter unless the FA made a formal recommendation as part of their business.

The turn of events doesnt sound right. When you buy a property, you dont put a deposit down unless its a new house. If you do put money down, then you do it via a solicitor. So, what does your solicitor say?

I dont think it was a very good idea to forum this as its very sensitive and a really involved case BUT thanks for your reply

Blackpool_Saver

Good luck, I hope someone can help you ....

lincroft1710

liz_giles wrote: »

One was really kind and said go away and prepare the evidence of your case for Small Claims and I will check it for you. That's as far as I have got so have spent today collating every note I took into one long stream of events and opinions and a friend is going to help me prepare my witness statement and I also researched the legal aspects on the web today.

Reading the above, I think you've already done what most people on these forums would have advised.

Barneysmom

Stinks of fraud to me....
http://www.sfo.gov.uk/

liz_giles

I am AMAZED at all the helpful info that is on the www that supports my case. Thank you to everyone who has read this and has empathy for me.
The moral - 'You live and learn' Don't we just!

Liz

liz_giles

Thanks exactly what a really good lady lawyer said to me.
Her very words.