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Could I sue for being mis-sold
Comments
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You make it sound like you believe that raising a family, what we're put on earth to do, surely, is a crime?
I can currently afford the mortgage, tenant or no tenant, but whilst on maternity leave, yes, I will find it a struggle to find the money for it. There's no crime in admitting that, is there?
But to be honest, while I've got my children (this one will be my second) and my husband, the money I make/lose on this property is secondary. The health and happiness under my own roof is what really matters. Again, no crime in that either, is there?
No offence, but that is an attitude that probably causes 90% of the worlds problems.0 -
No offence, but that is an attitude that probably causes 90% of the worlds problems.
No offence taken.
But if we weren't put here to procreate, what do you believe we were put on earth to do?
Do you suggest I go out shooting dead any free animal I see mating because they're causing the worlds problems? No. So, why shouldn't I be allowed my free choice of having a child just because YOU choose not to?0 -
No problem there, but you have to understand that when you enter into an agreement with anyone (whether that is a faceless corporation or not), you have to stick your side of the bargain and not want to alter things, because your circumstances have changed. From what I have seen, you weren't missold anything at all. You knew that the developers would retain twenty-five per cent title; you can't make a decision without their agreement, irrespective of the amount of equity they hold. If I have a secured debt on a property, I cannot do anything with that property, without the lender's compliance, in spite of how much is secured against it.You make it sound like you believe that raising a family, what we're put on earth to do, surely, is a crime?
I can currently afford the mortgage, tenant or no tenant, but whilst on maternity leave, yes, I will find it a struggle to find the money for it. There's no crime in admitting that, is there?
But to be honest, while I've got my children (this one will be my second) and my husband, the money I make/lose on this property is secondary. The health and happiness under my own roof is what really matters. Again, no crime in that either, is there?The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
I wasn't told that I'd have to seek their permission before I sold though. Yes, I was told I'd have to have three valuations, but an ASKING price (i.e. valuation) is very different than the SELLING price (which wasn't mentioned to me, and, I'm not sure if that is even in the contract).
I was told I HAD to use their solicitor AND mortgage advisor, both of which were paid for a service by ME, and neither of them pointed out pitfalls. As I must have already said two or three times, excuse my naivety but I assumed a solicitor was paid to ADVISE and their advice should've been to avoid the deal at all costs. And I would have.0 -
They're having to wait for it now, aren't they? While I decide not to sell, the whole time they're waiting for their share.
Correct, but they still own that 25% now.
It could be alot worse, they could be demanding the original 25% they put in. What exactly have they got to lose? ATM absolutly nothing. They can stop you selling unless its the figure they want. I would suspect that there is some clause in regarding reposesion where they get their money back. So it ain't their problem. Put yourself in their position, would you be happy, in the current climate, to wait 5 years for your money?
My honest opinion would be to keep the tenants in until the market picks up again.
And for the original question, no you don't have a case for miss selling.0 -
But if you sold your share, you wouldn't be. You would have got your full money, while they still continue to take the risk.They're having to wait for it now, aren't they? While I decide not to sell, the whole time they're waiting for their share.The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
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What if the house was worth ten percent less? 10% less than what? Surely if they fix in NOW and agree to take their 25% of £139k but not for another five years, but the house in five years was only worth, say, £100k, they're winning aren't they?!
I don't understand your point.
If they agree to your and the estate agent's proposal, they are either fixing their return now, which means that if the property increases in value they will lose out. If the return is not fixed they risk losing money of the markets fall.
You entered into an equitable agreement with the developers five years ago, which suited you very well at the time. But now, when it no longer suits you, you want to change the terms of that agreement. Well, I am sorry but your partners in this venture don't want to change them, which they quite rightly entitled to. Why should they take more risk than you?The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
What if the house was worth ten percent less? 10% less than what? Surely if they fix in NOW and agree to take their 25% of £139k but not for another five years, but the house in five years was only worth, say, £100k, they're winning aren't they?!
I don't understand your point.
Flyboy - you haven't answered this point?0
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