Singing Pig

Hi All

 

I am in the same situdation as well exchanged but now dont have the finance to complete due to the addtional investment required. I have not heard back from them BGV  either as TIC where going to honour the remainding funds and provide rental subsidy.

 

 

Has anyone bought a property at Heatherwood Court, Doncaster. Please email me raymondharrod@thejc.com

Hi All, 

Just to add myself to the list of TIC victims , I sympathise. I am a student and invested my small inheritance of just under 20,000 through TIC, lapping up their assurances of property discounts and high rental coverage, and believing their well rehearsed and slick promises like a complete fool.

I am now stuck with 2 properties in negative equity and costing me 450 pounds a month in topping up the mortgage, service charges etc etc. I can't believe what an idiot I've been, but I'm certainly paying for it (literally).

I don't know if much can be done and it infuriates me to think of the directors at TIC who have deceived so many people and then walked away quietly, without even bothering to tell their members that they have gone into liquidation!!! 

James. 

I feel the same way.

Is there anyone who hasnt been able to complete on the property? I am trying to understand the financial impact of it? Undertsnad the scare mongering from BGV aorund 10% penalty, although would it really come to that? Any repsonses would be welcome!

Hi all

 I spoke with the developers today for my prooperty and found that what deposit I thought I had paid did not all go to them so some of this must have been for TIC's pocket. Also when running through the costs I was advised they where heavily bumped up. It seems that R&B the main company which is offshore is the middle man  and basically bumps up the cost and then pushes them through to us the members. Also not sure 100% about this but BGV which is under R&B may be wrappig up as well. 

 I did ask the developers if I was unable to proceed what would happen. I would loose my deposit and they have every right to come for the further 5% plus costs (marketing and loss in price when sold etc) however this is not to the member but to R&B. Now this is where I am not sure if R&B can then push this to us.

 I have read the contract and I am not sure however I could not see anything along those lines but I did see a section that said we as buyers dont have the right to see the head contract wish I went through this with a fine tooth comb. I hoping to have this checked by a third party.  In the mean time the developers are going to see if a something can be done directly between us.

They only wanted what they had origially signed up for with R&B and I get the feeling it was much lower than what we have been givien

Hi,

Just found this forum while searching for info on TIC. What a relief to find so much useful information here! I'm in exactly the same boat- joined TIC last year and bought one property through them. Had a deposit on another and the deal fell through from their end. Was 'persuaded' to switch to a house on the same development and that subsequently fell through. I had a mortgage ready for it. Was in the process of trying to get my money back from them, when suddenly all the numbers were none existant and the e mails bounced. So went to their offices in Mayfair where the receptionist said they when he arrived that morning they had left, lock, stock and barrel without a word to anyone! I'm so angry about this - particularly getting sucked into such a slick sales patter. I was wary and thought I was being  careful, but obviously not enough. Happy to join in any action taking place. Why can a company just disband, and set up again in another name with our money, and we have to just accept that???

I am considering presenting this fiasco to the national press / local TV news/ Watchdog and a friend has said she will ask a friend of hers, who helps to make financial programmes for the BBC, to see if there is a worthwhile story here.

 I feel the directors of TIC should be brought to task over this and would like to know, if others are willing to come forward to tell their story. So far I've had one yes.

 I've started a group on Facebook and would love other TIC victims to join. I think there is strength in numbers.

Not sure if you'll be able to access this link, if you're not already a Facebook member.

http://www.facebook.com/s.php?q=Hubbard373+-AT-+aol.com&init=q#/group.php?gid=38441985153
 

I've submitted my grievances to the BBC programme Watchdog. Please let me know if you would like to tell your side, if they find this subject newsworthy?