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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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I have bought no expensive property. But now, due to their

Resolved Question:

I have bought no expensive property. But now, due to their incompetence in wrecking the housing market and it's, prices the banks have forced me to sell my property portfolio. Now is not the time to sell. Have I a case against them for creating this senario due to their part in the property crash, which they don't seem to have accepted yet? Ian
Submitted: 1 year ago.
Category: Law
Expert:  Nicola-mod replied 1 year ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 1 year ago.

Yes. Okay to wait. Thanks

Expert:  Nicola-mod replied 1 year ago.
Hello,
We will continue to look for a Professional to assist you.
Thank you for your patience,
Nicola
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you with this.
For now please let me know why they are forcing you to sell?
Customer: replied 1 year ago.

I had purchased land in 2003 at an affordable price, with planning for 19 units. I had 70% of them sold by 2007 when the bubble burst and prices fell through the floor due to the unsustainable the criminal and irresponsilble lending market had landed the world found itself in. I was not afforded the 60,000 to 70,000 thousand Euro to finish the remaining 6 dwellings, so as same could be rented until things improved. To date this has caused a loss in the region of 300,000 Euros. I had a few other properties I had retained over my 10 years of developing previous sites. I am being threathened with Bankruptcy these past 7 years if I don't sell my small portfolio. I have worked with the bank in every way and obtained 5 sales with another two to conclude soon, but they advised I shall still be made Bankrupt after cleaning me out. Should I just walk away as I should have done several years ago? They have acted with impunity and the Governments did nothing.

Expert:  Ash replied 1 year ago.
What are you saying the bank did go breach their terms and conditions?
Customer: replied 1 year ago.

I'm not a lawyer. I dont know. Just forget it. It's getting to long and drawn out. Thanks anyway. Will pay the fee.

Expert:  Ash replied 1 year ago.
I just need to know if they did anything they should not have done ?
Customer: replied 1 year ago.

Yes. They did not work with their customer to help raise cashflow. All they did put us under anxiety, duress and pressure for seven long years, without any indication of when they were going to close in on us or to inform us of their intentions. Thanks Ian

Expert:  Ash replied 1 year ago.
Do you have a claim in relation to the property crash. - no. Unless they have breached their terms and conditions of the contract with you, they are not liable. It may be regulatory requirements that means there are tighter controls when a new government is formed this week.
But unless that have breached their contract with you, that is in the terms and conditions so you need to see if they have done what they said in the terms or not done what they say they will.
I am sorry if this is not necessarily the answer you want and certainly not the one you want but based on what you have said, this is the legal position.
Can I clarify anything for you about this today please?
Alex
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
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