Singing Pig

I am in a similar situation to you Stuart and another victim of TIC. They have basically left me in a position, where I'm having to borrow money from friends and relatives to pay my mortgages.

I stupidly purchased 2 off plan properties in Leicester through them. The first is now in negative equity and the rental income barely covers the mortgage repayments. The second property, their muppets they used to source mortgages couldn't and in the end, the only way I could complete, without losing monies already invested or being taken to court by the developers, was to borrow further money £13K, as I couldn't get the 95% mortgage. This property is also in negative equity. I completed on it 4 weeks ago and I'm still unable to find a tenant.

I've been searching on here for months for forums and other victims and would like to know other people's experiences. I even set up a page on Facebook, hoping others would join and maybe discuss forming an action group. Here's the link   http://www.facebook.com/group.php?gid=38441985153&ref=mf

As for TIC, the reason their website and e mail doesn't work and phones are constantly engaged, is because they've gone into voluntary liquidation. They have sold assets and customer list to a company called BGV Properties, based in New Bond Street London.

There must be something I and others in the same situation can do. We have been mis sold properties, which are obviously over valued. It's a con.
 

 

Hi All,

I have become a TIC memeber last year and had invested in the Cradiff bay property. I have since exchanged in Dec 07, while TIC has would up before I could complete.

I have been told there is another company BGV which is nowing handling those cases in pipeline.

Does anyone know what my liability on purchasing this property is?

SG

totally agree! ita a CON! and the law should be on our side.

I am in middle of exchange and contract. Given themortgage market, I am concerned I wont get one at all. In that case I am staring at a fine of upto 10% of purchase price. even if I get a mortgage, I wont get it at 85% LTV, whihch will mean Iwill have to find more money which I dont have.

Wonder if we can get legal adivice on this matter? Any experts reading this?

I am in for an action group - may be going to the media is an option?

S G, Walk away. Say you've lost your job, got no money, whatever. If they threaten you with court action - call their bluff.

As much as I like would like to its a glaring prospect of legal action and CCJ raised against me....after all we have exchanged. Is your adivce to walk away based on personal experience. i.e. have you or do you know of anyone who has not paid and has been able to walk away with any financial repurcussions?

I would like to hear from anyone (07871406907) who has been a victim of TIC

 

 

I considered contacting the London Today/Tonight new programme, but felt as a lone complainant, I wouldn't have any credibility, but if a group of us got together then this is an option. It is disgraceful the Government, authorities or whatever allow this to go on, without anyone being held accountable.

Hi all, I used to work in Sales for TIC. Just to let you know that BVG is in fact owned/controlled by the same team who owned TIC.

 

Hi

 

I invested 20k with tic and they have now wound up, but moved to another company called BGV.  Still processing the same deals, and the creditors for TIC are trying to claim money back.  Can BGV be trusted?

S