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  • Landlords in Distress

    Hometrader Privilege Club?

    I have emailed Land Registry to request that they block the transfer.

    Can I suggest that as many 'investors' as possible do the same for their own JVs?

    https://landregistry.custhelp.com/app/contactus_general/

    Ill post the reply when I receive it.

    Ill also post the reply from Begbies as Ive also just emailed them and objected to the sale until they explain how my interest will be protected.
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    Have had an email exchange with Alex Grimshaw at Begbies who are acting on behalf of Santander to sell my two JVs.

    Also emailed the Land Registry to try and block the transfer until I was clear how my interest were protected by the UN. This is the LR reply

    Thank you for your enquiry. I am afraid that Land Registry cannot delay an application that is properly made and properly lodged with Land Registry. The registration of a unilateral notice does not produce this type of effect.

    Yours sincerely
    Andrew Schofield
    Customer Services


    There is a Practice Guide on the UN on Gov.uk but is not understandable by a lay person.

    Comment by Alex at Begbies

    A UN1 in itself has a very limited effect. For instance, the entry of a notice does not guarantee that the interest that it protects is valid or even that it exists. Furthermore, Santander would only become aware of it after the fact. In addition, it would not affect Santander’s ability to enforce their charge, which has priority. In any event, it appears that Santander will suffer a loss on their accounts.

    In summary the UN is essentially useless and you can neither stop the sale by Begbies (or I assume any other Insolvency practice or solicitor) or the registering of the new owner by the Land Registry which cancels your UN.

    Alex did tell me that the sale value would be below the outstanding mortgage, Santander would be taking a loss and so there would be no assets left.

    I believe one of my JVs is being rented so Ive asked Begbies for the rental agents details. Ill call the agent and ask for a 50% share of the rent. I do believe that getting a share of the rental income is the minimum we are due. I will also ask the agent who is getting the rent. If they refuse to tell me Ill lodge a complaint with the TPO.

    *moderator content removed*
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    Just an update regarding Hometrader and capital gains tax.

    I unfortunately lost the circa £20k investment I made with Hometrader ltd, run by the unsavory Brendon Kiely, despite face to face verbal lies to promise to return this money to me.

    That aside, I have successfully used this £20k as a capital loss with HMRC, against other greater capital gains made during the last tax year. The HMRC has even just sent me a very modest tax refund for the same tax period.

    I told my new accountant there were over 250 other investors who had also been ripped off by this property scheme, so HMRC could be losing out on future tax collections as a result. I asked if he could flag this with the HMRC.
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    The property which my JV was secured on was sold for more than the outstanding mortgage but the solicitors acting for the mortgagee are refusing to refund the excess to the UN1 holders (three of us) or give us a proportion of the rental income whilst the property was in the possession of the lender.

    Is there anything I can do about this?
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    (08-02-2016 10:28 PM)Timmus Wrote:  The property which my JV was secured on was sold for more than the outstanding mortgage but the solicitors acting for the mortgagee are refusing to refund the excess to the UN1 holders (three of us) or give us a proportion of the rental income whilst the property was in the possession of the lender.

    Is there anything I can do about this?

    Dear Timmus

    Unfortunately the odious little short round man Kiely frequently loaded more than one investor onto one of his shite properties, knowing full well there was frequently zero 'equity' if the property was ever sold. The legals were actioned by Dixon Law, who have since closed.

    It sounds as if you might be one of the lucky souls who have some 'equity' to be distributed, but I would recommend you get a decent lawyer to advise you. Are you using Clifford Tibber of Anthony Gold, I would strongly recommend him, however I think he might have closed his books for new clients, Best to ring him. He is a good man and exceedingly sharp!

    Additionally, I would advise you to contact Colin Dixon who after closing down his firm of solicitors, now works elsewhere. I would suggest you write to his senior partner expressing your significant concerns and complaining about how he handled your investment.

    Finally, I would recommend you write to Kiely, or perhaps his son, or even his wife to get an answer. Be good to be a fly on the wall at the breakfast table, when your letter arrives on the kitchen table and they start squabbling!
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    Just up-dating this thread with the following news:

    Brendan Kiely was made bankrupt on his own application on 8 November 2016. It appears that the deficiency in his assets is £10,659,841.

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    A Hometrader property in Blackpool has no mortgage on it, with three of us named with UN1 interest in it. Since Hometrader has now wound down, the property has been handed back to the Duchess, essentially to the Queen. Is there a legal way to get the property in our names and be able to sell the property and share the profit?

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    Are you using the services of Clifford Tibber, of Anthony Gold lawyers?

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    Hi, I have unfortunately purchased a property from berkshire homes and have had nothing but trouble with the poor finish of the house which had damp and mould in the bedroom after less than a year. We have now been in the house 2 years and have not been provided with a building warranty.  Does anyone have any more information about this company please?

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