Browse All Tribes or choose a Tribe below:
By signing up I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Sign Up With Facebook, Twitter, or Google
By signing up, I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Don't have an account? Sign Up
To reset your password just enter the email address you registered with and we'll send you a link to access a new password.
If buying property together with a small number of parties - pooling funds, should you be aware of any rules surrounding Collective Investment Schemes.Thanks.
I'd say John Corey is your man regards this. He used to be on the forum, not sure about now - property fortress is his website I think?
** As a qualified Financial Life & Legacy Planner, and also an experienced HMO portfolio landlord (& owner of a lettings agency), I understand the financial & legacy planning issues faced by property investors & business owners, and have simple solutions to often complex problems.
Suitable Life Planning helps people to clearly define the things you want more of in life and helps you establish the financial life plan you need to achieve them - helping you live the life you want to lead without the fear of running out of money.
Suitable Legacy Planning empowers you to plan for & protect the people you love, leaving a lasting financial legacy that enables them to have more freedom, more choice & more life.
Suitable Money Advice are a fully independent and impartial financial planner providing regulated financial advice & regulated financial products, if indeed you need any. We are a SIPP & SSAS specialist
Please get in touch on 01202 287 990 or email@example.com
From a lender’s perspective, if a few friends (up to four usually) want to put their money together for a deposit and buy a rental property (in personal names or limited company perhaps) then there are lenders who will entertain that. But if the group grows and applications come in where only a few members of the group are going on the mortgage then lenders will start to decline such a set up – probably for the nature of the collective scheme.
I have also done a quick bit of research and found that some collective schemes are being looked at by officials/regulators as they may be pyramid/’Ponzi’ schemes which are generally to be avoided. I don’t know about the actual scheme in question but I would suggest strong scrutiny and due diligence before becoming a paying member.
I hope this helps,
Call the PT Broker Hotline on 0333 363 6507 or email us at firstname.lastname@example.org
This collective investment scheme did not work out too well for those who got involved:Bankrupt couple raise £7.8 million via P2PPooling investors' money is a highly regulated activity and anyone doing it has to be FCA regulated. Financial communications and promotion are also a regulated activity and have to be undertaken in a certain manner to be compliant.Finally, due diligence on an individual before parting with any money will always mitigate your risk of getting involved with a dodgy scheme.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**