Singing Pig

John,

Most lease documents require the lessee (ie the buyer of the property) to require consent of the management company (lessor) to consent to letting out the property in question.  It's a formality; if the developer/management company witheld consent, that would be unreasonable IN LAW and actionable in court.  In practice, this is highly unlikely to be a problem.  David  

Dear lampost66,

Count me in. I am also in a similar situation with 20: 20 apartments. Why don't we form an action group?

I also bought a car parking space for £18,000 and it was sold to me with a promise that they will give 15% cash back (like they do for the flat). But now they are not honouring this .

Hi

I have also invested in one of these apartments at 20/20, and not completed yet, though that Harish Sekhri keeps phoning me that I need to complete bla bla otherwise we will sell your apartment and chase you for the losses.  I told him that I am finding it hard to find a mortgage and cannot complete yet.  How long will it realistically take them to sell these apartments on cheaply? I have also contacted Hammad Ahmad, who is the guy leading the investigations at Max Gold partnership, but then he sent me the breakdown of their costs and they seem to be extortionate! They want us to pay for their barrister fees (collectively £70,000 ++) plus any court costs if they fail to win the case.  They use the pool money to pay out as well.

 Watson and Brown are the main culprits here, as they made us sign knowing that this was about to fall apart! MP have been through about 4 different solicitors for their "customers", however, their own solicitors (Ison harrison) have remained the same throughout.

I am now in a situation where I could lose loads, and we need to do something about this. Together, we all stand to lose loads!  I have spoken to a local conveyance solicitor, who said that looking at the contracts, we will have to complete, even though Watson and brown did not act on our behalf.

How can we all send just 1 letter together to the FSA so they can investigate this further? I am stuck right now; anyone got any ideas of what we can do?

Cheers

Hi,

I am badly affected by MP as well. This time though a development called Norfolk park in sheffiled? Anyone in the same boat?

My situation is a bit different though, I exchanged on the property only to later know from the BBC panaroma program about Morris.

http://news.bbc.co.uk/1/hi/programmes/panorama/7228220.stm

I have now decided not to complete on this. Give me a shout if anyone is in the same situation.

The way I see it, what are they going to do? Sue us all in court?? If we all do not complete, and we can't get mortgages cos they vastly over-valued from the beginning, are they going to sell all of the plots and chase us for their losses? Can they win even with their bad reputation? I cannot see that happening....

What do people here think?

Hi Guys, 

I'm genuinely sorry to hear about your situation(s), but I don't fully understand what your gripe is with MP? By the sound of things you ageed to buy a property, the market then moved agianst you, now you want to back out - if my understanding is correct then unfortunately there is really nothing you can do.

I am very familier with the Leeds market and have known of Morris Props (and their reputation) for sometime - however I don't think that this is a legit reason not to complete.  After all, a person can market a property at any price they choose it is then up to the buyer to make sure this is a reasonable valuation before they enter into a legally binding contract.  Two years ago the going rent for a 2 bed flat with parking in that area of town was £750pcm therefore it doesn't take much to work out that £192k is over priced.  Did you take advice from a chartered surveyor before you exchanged? 

John

My name is Joseph Ryan.

Email: josephryan70@hotmail.com

I am a buyer on 20:20 as well, a small studio apartment, and now looking at legal action against Morris Properties or Black's (solicitor sesignated by Morris).

I am happy to liaise with you and share any emails. In particular I need copies of early emails and promotional materials form when the deal was marketed by Morris or intermediate companies. I have a good solicitor on the case and will share any of her findings, letters etc.

Please email me some background in your purchase and anything yout hink may be of interest.

Reagrds,

Joe Ryan 

My name is Joseph Ryan.

Email: josephryan70@hotmail.com

I am a buyer as well, a small studio apartment, and now looking at legal action against Morris Properties or Black's (solicitor sesignated by Morris).

I am happy to liaise with you and share any emails. In particular I need copies of early emails and promotional materials form when the deal was marketed by Morris or intermediate companies. I have a good solicitor on the case and will share any of her findings, letters etc.

Please email me some background in your purchase and anything you think may be of interest.

Also happy to be in any forum or FSA group.

Reagrds,

Joe Ryan