low cost Home ownership ripp off!!!!!!

Emmzi

you would perhaps have had a case for return of deposit due to false advertising if you decided NOT to go ahead

Bu you chose to go ahead in full knowledge of the facts.

No one to blame but yourself. After 4 years it is time to get over it and move on with your life.

ALPHADEANO

And could i have claimed for now being priced out of the housing market as I was comited to buying the property after sending in my non refundable deposit? Based on incorect information sent to me.

They told the ombudsman that it was a new shcheme and as such didnt have information prepared so gave me the information of a different scheme they did instead.

All comments appreciated.

Dean

Mrs_Arcanum

ALPHADEANO wrote: »

As they paid approx £30,000 for 50% share of £136,500 omv property and I paid approx £71,050 for my 50% share.

For the properties on the new estate to be built , they had to have some affordable housing.

I think originally it was going to be a 70/30 scheme, but in the time it took from the start of the scheme to completion the house prices rockerted, so I had to pay open market value but the housing association didnt, even though Id paid my non refundable deposit. Does this happen with goods ?


So they have gained financially and Ive lost. I thought housing associations were supposed to help people and not profit off them.

There were also other properties in the street bought off plan, so other people profited, all of which could not have happened without myself and others buying on the scheme.

The sums do not add up here, who paid the Other £35,450?

ALPHADEANO

Well thats my point it was sold to the housing association for around £100,000 !!!!

so I paid approx £70,000 for 50%
And They paid approx £30,000 for 50%

of a property sold on the open market for approx £136,500??

As far as I can tell no one paid the £35,450, its profit for the not for profit housing association, even though I paid for theyre solicitors fees and administration fees.


Thanks


Dean

Thanks

Dean

Emmzi

You have no case. None at all. No case whatsoever.

You had all the facts before you signed. Therefore, no case.

And by the way, you have no case.

ALPHADEANO

Are you legally trained just out of intrest?

The housing association ran the scheme on approx 12 properties, so assuming they made £35,000 on each sale thats £420,000 profit for them.

Perhaps thats how they afforded theyre new offices?

Im just asking for opinions , and thanks for yours

Dean

Emmzi

I'm not lawyer but as an ex banker I've been trained and have professional certificates in contract law.

ALPHADEANO

Ah as I have no law knowledge I appreciate your reply. It makes me very uneasy purchasing anything with a deposit in future.


Dean

Wantahouse_2

ALPHADEANO wrote: »

And could i have claimed for now being priced out of the housing market as I was comited to buying the property after sending in my non refundable deposit? Based on incorect information sent to me.

They told the ombudsman that it was a new shcheme and as such didnt have information prepared so gave me the information of a different scheme they did instead.

All comments appreciated.

Dean

You were not committed to buying the property after sending in the deposit. You could have pulled out at any time up to exchange of contracts but you decided not to. Had you pulled out on the basis of the facts of the sale changing you could have gotten your deposit back as it was their misrepresentation of the deal that caused you to pull out. As for the other deposits - I would imagine they were minisucle in comparison to the value you feel you have lost now. And these are costs all buyers potentially face.

You chose to go ahead - there is no illegal activity here. If there was it would have been picked up by the ombudsman and all the other paths you say you have already pursued. You are clutching at straws and obsessing over something that is too late to change. You should have pulled out but you chose not to. You could have waited until the market bottomed out at which point you may have been in a better position to buy, but you chose not to. You are in the position you are in today because of your own choices. You need to accept this,and stop trying to find someone else to blame.

sooz

Don't be uneasy. Just read the contract in future. And if it doesn't say what you expect it to say, don't sign it.