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  • Legal FAQs

    Facing loss & wondering best course of action

    This is all sounding even more suspicious.  How do you know your mobile homes are insured?  Site fees are typically £2K to £5K per annum depending on the location of the site and the facilities it has.  There is water, electricity, gas, communal areas maintenance, staff,  etc to account for.

    If you are not being asked to pay an annual fee for this .... then how can years of site fees be covered out of your original purchase price?

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    and you have been repaid 18 / 60 payments, so you have received £39k back so far?

    Have you done a Duedil search on the Director / Company to see what assets / cash are held? https://www.duedil.com/search/directors

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    Yes, we have received back around £40K.

    In terms of due diligence, when we invested the company back in late 2016, the company' financials were okay. It showed reasonable profits to make one believe that the business model was viable.

    However, at present, it shows its current accounts are late. But due date was 31 March 2019. Ill keep an eye out, as they may file soon.

    I'm not sure if screen shots are allowed here, as it my expose the company and name...and I don't want to get into trouble just yet. But if allowed, admins can drop a message and Ill paste screen shots what I can see on companies house and filings.

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    It's perfectly okay to post screenshots to substantiate anything being discussed. In fact, we encourage it.

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    Which County are these mobile homes in?

    A look on Rightmove will show in Surrey they can cost well over £100k each - ie on sites which do allow 12 months pa occupation. Ditto on South Coast.

    When the Company suggested local Council was on board at outset - I imagine they meant that private tenants claiming LHA could expect Council to pay 1 or 2 bed rate of LHA as applicable.

    As you know it is challenging nowadays to get a new Council tenancy and many households therefore need to look at private rentals - where mobile homes would sit at bottom of market.

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