Real Estate

‘Incendiary’ book promises to dish dirt on dodgy buy-to-let and property deals in UK

A new book promises to explode the myths created around ‘armchair investments’ and off-plan developments and expose corrupt developers and sales agents.

Author Neil Bromage labels the schemes featured in The Great British Property Scam as the buy-to-let scandal of the century.

He says many continue to be sold by unscrupulous individuals who often hide behind legitimate big brand names, offering property deals with a registered title and promising high-level returns.

The book identifies those developers and agents who have been responsible for leading investors astray as well as those solicitors who failed to protect the clients they acted for.

Unwary investors

“Student accommodation, care homes and hotels have all been broken up into small pieces with the rooms being sold to unwary investors in contravention of UK law enacted more than 20 years ago,” he explains.

“Off-plan flats and apartments have also been similarly structured as unlawful unregulated collective investment schemes.”

The Financial Conduct Authority is currently investigating and prosecuting the first culprits, says Bromage, while others will follow in their wake as the Serious Fraud Office has now stepped in.

He says: “There are tens of thousands who have already lost money to these schemes but a great many more will lose their pensions and nest eggs if they are not warned of the dangers of buying these types of investments.”

The book brings together years of research and work with investors who have lost their life savings and the lawyers who are helping to recover them. “Over the last few years I’ve had contact with around 2,000 investors and helped to put two substantial groups together with a view to getting their money back,” adds Bromage.

The Great British Property Scam is published on 1st July and is available on Amazon to pre-order.

Source
‘Incendiary’ book promises to dish dirt on dodgy buy-to-let and property deals in UK is written by Nigel Lewis for www.landlordzone.co.uk

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