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  • Landlords in Distress

    Glenn Armstrong

    Thanks for sharing Susan.

    What project out of the list Glenn sent is the one you lent money on, and what kind of money did you give him?

    have you been paid any of the interest promised or had ANY of the capital returned?

    Ruth

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    Hi Sue,

    Thanks for coming forward.  I can understand why you are perplexed, on a number of levels.

    Today, GA sent an email out for a single loan of £2million.

    This was the text:

    Hi I’m looking for a personal loan fully secured against a property. I’m looking for £2million and I’m happy to do that in several parts. Naturally I’m offering a great return on your capital. If you’re interested then please contact me direct for details with a text or call XXX XXX.

    In view of what Lucky Escapes has said previously, and from other messages I received today from a reliable source,  this is a loan to redeem the mortgage on GA's mansion.  I am sure I am not alone in believing it is of grave concern that GA has attempted to solicit over £2.8million from unsophisticated investors in the past 48 hours.

    I wish you luck in getting your money back. Please keep us informed.

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    I can almost feel the sphincter twitching from here!

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    Does this bloke need some sort of licence or registration with a government dept. to do what he's doing?  Compulsory membership of a regulatory body?  Or is anyone and everyone permitted to solicit large sums of cash from people in exchange for real or imagined rewards, with no consequences if it all goes belly up?

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    The truth is that business purpose lending secured against residential property is unregulated by the FCA.

    Note:

    It needs to be over £25k

    it must not involve a p2p or electronic platform

    The Borrower must not live in the property

    The scheme must not amount at a.collective investment scheme or Non readily realisable security. A Single lender loan does not.

    ..So rightly or.wrongly plenty of scope for raising finance...

    Anyone who wants to understand more please PM. We have been regulated by the FCA since 2001 and are familiar with this area.



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    Vanessa,

    A £2M loan, thats absolutely outrageous and actually very worrying.

    Having seen the devastation caused to Teresa Rolands and her husband over £130k then you can only assume lending £2M or even part of it could quite easily ruin a person or families life. Please, please stay away folks.

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    Phil Stewardson.

    Stewardson Properties.

    Stewardson Developments Ltd.

    Burson Land Ltd. & Jennings & Gilchreaste Ltd.

    https://www.stewardson.co.uk

    Follow me on twitter - @philstewardson

    Is that the one that was on television in a big motor ?

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    Yes Michaela. Did you see his full page ad in today's London Metro?

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    Following my previous post, I just wanted to say thank you for the many PMs, insights and words of encouragement.

    Sadly there is nothing positive to report, rather to the contrary.  It goes without sayd that my last post
    was not favourably received!

    In terms of an update, after many "abortive sales", the property is still apparently "STC".  

    For the greater good, I intend to post a more detailed overview and update should this "latest" sale not proceed and at the
    very least my investment be returned after a staggering 21 months!

    Indeed, perhaps it would be beneficial to attend one of Mr. Armstrong's latest advertised forthcoming "free" events and
    discover how to "turn my £100k into £1m".

    "Come and let me show you and I'll also be sharing the UK's most effective Property system for turning 
    £100,000 into £1,000,000 within 3 to 5 years"

    I am particularly keen to learn how to:-

    • profiteer from "JV investors" and "mentees"
    • finance "JV investor" deals on long term bridging with a "selected" bridging company
    • refinance "JV investor" projects without their knowledge or consent
    • place second charges on "JV" properties without "JV investor" knowledge or consent
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