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Comments
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What was that new build build flat scam...
You buy the whole block of yuppie waterside flats at a nice discount from the builder.
You then sell them to mostly imaginary buyers for a decent markup, duping the lenders into releasing the funds. Then scarper with the difference between sale price and the mortgaged price. Leaving 80%+ of the block to be repossessed.
Nice. I was thinking of renting something just like that :eek:
Very worrying how no one involved in the whole affair made any attempt to blow the whistle, either through ignorance, indifference or fraudulent intent.
Obviously the builders didn't care, they got their money, but what about all the so called professionals that must have been involved?
Solicitors, chartered surveyors, lenders, accountants etc. etc.
Obviously these were unusual cases, but it still worrying that this was even possible. House of cards indeed...0
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