Breach of Covenant Question

Keep_pedalling

According to Chris Gascoine's LinkedIn page they have developed 1500 residential properties, so if, as it looks, they have issued one of these letters demanding at least £150 off each home owner then this has the potencial to be a multi million pound scam.

jimbog

If a recipient of such a letter were to Google 'Yenton covenants' this page comes up as the second result :shocked:

spanmedofsky

They have done this on an estate where there are a number of elderly people who may be bullied into submission. Hopefully the courts or tribunals will see sense but whatever the legalities this business should be ashamed of its predatory tactics. Does anyone know anything about them ?

Jdowson

Yes I have looked this company up and I'm not really sure who they are to be honest. It looks like Yenton Minster Homes went into liquidation in 1991 and Gascoine took them over.
Looks like they are short of money and prying on old people. 38 years since our homes were built and when we bought the property our solicitor said they didn't exist anymore!

spanmedofsky

Thanks - looks like the registered office is the same as Gascoine estate agents which look to be a chain. Maybe worth contacting the estate agents to check they are aware - really puzzling that a business that on the face of it looks like a reputable family business would have a scheme like this running (even if legal it appears they are trying to hold vulnerable people to ransom).

Lloydy118

Hi new to this forum.
We too as a collective in our village been hit with the same letter from Gascoines and many of us have said 'scam'! Two of our neighbours have paid the £399 one because his house is up for sale. The waive letter they received back was a joke and not worth the paper it was written on according to a Solicitor who saw it and its only binding when 'you' file it yourself at HM Land Registry. This making a mockery of the covenants, as now they could do what they want (within reason) so the protection of each neighbour has been removed, the whole idea I thought they existed in the first place, not as a money making scheme for companies on their uppers!
However worryingly what is the worst case scenario does anyone know?
Should we pay up or just ignore them? - we have mixed views amongst our neighbours here.
Any input out there would be welcome.
Do you think Watchdog would be interested?

jimbog

Lloydy118 wrote: »

Do you think Watchdog would be interested?

Yes I think they would.

I emailed Radio 4's Money Box programme regarding this issue

Lloydy118

Have you heard anything back Jimbog?

Jdowson

My solicitor called me today and his words were the land is yours and the house is paid for so he doesn't know what they can really do to us. He also advised me that Gascoine are involved in lots of different companies from cattle to building. He said that there are a lot of people who have received the letters so they have spent some time and money. I don't think anyone is sure what to do but if we all pay up they will have made an awful lot of money! What do you get for your money and my solicitor,said he would be interested to know.
I definitely think watchdog would be interested.

jimbog

Lloydy118 wrote: »

Have you heard anything back Jimbog?

Not as yet. It may be that I won't until they have done some investigations of their own. I directed them to this thread and Yenton's website.