Arenal Golf

My wife and I invested in an off plan opportunity being marketed by a UK property company in 2004. Despite many assurances that the property would be sold it has not and we have recently had to complete on a property we did not want to own.

Now whilst this story is not uncommon in Spain, the fact that it was a UK employee of a company based in the UK is arguably different as the actions could be subject to UK law. We have since found out that there are at least 20 other people (some quite elderly) who have been misled into investing in off plan in Spain (a number on this development) and there are probably many more. This particular individual has since had his contract of employment severed by the company here in the UK, (no explanation given) however this has not prevented this person setting up his own company marketing investments in other overseas countries on an off plan high yield basis.

We are informed by solicitors in the UK that we can pursue a 'Class action' against this individual to sue him for losses incurred and ideally prevent him from being in business.

If you have invested off plan in the Playa Golf development, then we would like to hear from you to see if you want to join our class act to pursue this individual for compensation for losses incurred.

Please contact us by sending us your message.

Regards

Les & Cerys

HI There, I assume you invested using Instant Access properties or Inside track. If so you would have been told that rental income achievable was £650 per week high season and you probably have paid or are p[aying about 220.000 euro for the property.

Well there are many peopale on Playa Golf that were sold these properties by what is clearly mis selling. Many conacted Tony Mackay last year and asked for some action. Mr Mackay promised soem cash back and also offered to cancel the purchase, Neither did he actaully do despite his promises. The properties were actually on sale by the developer at 179.000 euros  during 2004/2005/2006, I have a complete price list which I obtainedf from the developer. So not only were Instant Access taking a good comission (they admit in their broachures to 15%) but they were also making extra. Some people managed to swap their units for larger plots for less money by going to the developer.

The orginal agents or association that Instant acess had in Spain were Regency Estates who had a considerable amount of bad press through mis representation ie increasing the quoted proces and mis representing the rental incomes. The Azucana's have never obtained more than £350 per week in high season. Instant Access were keen to form an association with a Sapnish Based company and I beleive simply picked the wrong one (Due Diligence was poor).

So as you were sold a property in the UK by a UK company Instant Access who mis represented the facts (mis selling) there is probably a good case for actiin against Instant Accss. Even tne threat may have them worried as their sucess is based on promises and no bad publicity.

The other course of action may be to contact someone like watchdog from the T.V.

Regards

Les Smith

Hi Les - I bought on the same basis as you stated (overpriced, over-estimated income and over-estimated capital gain) but went through Smart Investor Services who are linked to Nueva Vida in Torrevieja.  They deny all responsibility as they say that they do not have the ability to forsee the future and simply projected on the basis of past performance.

If others are willing to try to do something about this mis-selling then I would be interested to join in.

Hi Les,

I also have been duped by Inside Track and Instant Access properties. I paid my deposit for a property on Playa Golf III in July 2005 and have still not had the property completed.  I wont agree to complete without a habitation licence which was applied for in Feb 06 and  it has still not yet appeared.  I would love to go to a TV watchdog but am too embarrassed to publicise my niavity to others about this situation,.  Do you know of anyone who has managed to get their deposit back from Instant Access Properties, perhaps by way of a strongly worded solicitor's letter?  You mentioned that Instant Access were a UK company, although the office that I have dealt with has been based in Spain, does this change anything or would they still be classed as a  UK company?

I am also now worried about what is in the british press now regarding Spanish properties being demolished - does anyone know if our properties on Playa Golf III are safe from this?

Norma

Hi Norma,

It sounds like our dealings with Instant Access had similar timings to yourself - we were due to complete in Mar 06. After many letters and a lot of pressure our habitation license came through in Oct 06, and we completed in Nov.

Although we had dealings with IA Spain, we received a letter from Nicola Keeble, Director Customer Services in London in Aug 06 promising us a 'Rental Guarantee payment' for loss of rental over the summer for Euro 3000. If you have a similar letter, it is not easily forthcoming - you will have to push hard (we had to pay a visit).

If you haven't got Ms Keeble's address (if she still is in charge) is:

Instant Access Properties Ltd, 3rd floor Surrey House, 34 Eden Street, Kingston upon Thames, KT1 1ER

Good luck

Rebecca & Dave

P.S  (For Claire T) When we went to visit the area in Nov 05, we were shown round by a Nueva Vida rep, whose details were given to us by IA Spain. I suspect there is a link!!

Having inspected a number of properties on this developement I have to state for the record that the general build quality is good and we don´t normally have too many problems getting San Jose to carry out the snagging repairs although you do have to chase them and, a local keyholder is always useful for checking the property, especially when furniture is fitted

This development is legal and therefore there is no threat of demolition

The key tips on getting snagging done are

• Get the snagging list entered into the paperwork when you sign at The Notary so that it forms part of the total contract
• Always check the property before completion and make sure that you are provided with a copy of the snagging list, in English
• Make sure that the builder knows that you understand what their LEGAL RESPONSIBILITIES are to repair the defects and that you understand the process if you need to formally complain about their services
• When you are over make friends with the local site foreman, and get as much done while you are in the property, be a pest but always be polite. getting angry often doesn´t work  +
• Do not  complete if there is no Certificate of Habitation issued for the property

We have had out own issues with this company regarding the quality of their snagging inspections when we were asked by buyers to re-check properties

There are an increasing amount of bad press about Inside Track and I know that certainly you will pay over the odds for their services, furniture, management etc compared to local rates and one owner stataed that they saved equilvent to 1.5 years rental income by sourcing items locally and not going for a package

Remember if this is a UK company and the contract and communications orignated there you can ask the locala Trading Standards Department to investigate your claim and I know of a situation where this has happened and a successfull action brought agianst the UK company. Yoiu must do this with the Trading Standard Office local to the company head office

We are not a property sales company and have produce 2 independant guides, one of which, The Q & A guide explians how to get your snagging done by using the consumer system in Spain, the other is a completion guide, and if anybody would like a copy e-mail  playagolf@inspectahomespain.com

Many thanks for your prompt response which is very helpful!

I shall certainly request your two guides that you mentioned in your posting.

You mentioned trading standards at the location of the UK company, but I wonder if you could clarify, are we talking about Inside Track or Instant Access?

When I recently complained to Inside Track about mis selling and all of the problems they basically washed their hands of it saying that my complaint was not with them but with Instant Access. You mention that you know of a recent successful action against the UK company.    I would like to persue this - Was this  action against Inside Track or Instant Access?

many thanks in anticipation of your response

best wishes

Norma

I have mailed you the guides

Sorry too many Inside organisation around but the fact is that if there has been any mis-representation form a UK comonay which can be demonstrated as being reposnible for the slaes process they can be reported to, and investigated by Trading Standards

There are a few reference cases but the ongoing one is against Atlas with a specific spanish builder in the Alicante region where their intervention has resulted in them having to dela with all of the cases

For more information on the story in the local Spanish paper online www.coastrider.net

Hi there

many thanks for your response, and for guide.  I will make further enquiries

regards

norma

Hi there,

I completed on Playa Golf 2 in Feb 08 after entering in to the deal with IAP nearly four years ago.  I have  seen same build up for sale as much as 40,000 euros cheaper. this month is the first in a decade for prices to drop, so it gives you some idea how inflated the prices were. On top of this the solicitor (M&G) recommended by IAP has also increased some of the fees overnight , legal fees doubled, and documents withheld, such that I didn't  get the final statement for 2 months. I have not been sent original docs, was not given the NIE  number, so I have chased for everything. Does anyone know if there is an ombudsman for solicitors in Spain?

 I have just had 2 weeks at the apartment and saved  a lot by doing everything ourselves, with my partner, after cancelling the furniture pack to cut costs.  However, it has been real hard work  as we did a lot of flat pack furniture, have had some problems having to take stuff back and so on. The build is good and snagging work is being done. I have found a local couple to key hold. The fees of the recommneded company are also high and I suspect  there are few guarantees. I am interested to hear about the  guaranteed income. I was not offered this. This may explain why some properties 'on the books' are let when others 'on the books' are not, which was a comment I heard while on the development.

I too am embarrassed to find myself in this predicaemnt, having paid over the odds and on the basis of such spurious claims. I placed such faith in IAP such was the sales job and the 'training' by  Inside track, that convinced me that the price and the figures stacked up -  I am keen to join with anyone taking a case up and look forward to hearing from you.