English
FrançaisHi,
the Victoria Derbyshire program is due to air a piece about the French leaseback issues tomorrow morning (27th Sept). The program airs from 9am to 11am and the piece will likely run around 9.30.
Irish journalist Diarmaid Condon, who has written extensively on this issue, is scheduled to contribute also.
First piece of UK media that I know of, and a great show to see it on.
Lets hope the CMA are watching !
The CCPC wanted to know when it was airing, they'll be watching this space.
This is the link to the news article on line re the above.
http://www.bbc.co.uk/news/uk-41401533
I watched it, very interesting and encouraging to see this thing gathering momentum in main stream media. Whilst it concentrated more on the compensation penalties for owners trying to exit the lease, they did make reference in no small part to potential mis-selling redress. I suppose that will largely depend on whether the developers and/or agents that sold individual apartments are still in existence!?
Sinead, what is 'CMA and CCPC' ?
Iain
The Victoria Derbyshire programme on the 27th Sept 2017 gave a good insight into the problems with the ‘Leaseback scheme’.
Hopefully this will deter any future prospective buyers not to buy into the ‘Leaseback scheme’.
It clearly shows that we were all misled into signing a contract that is governed by a commercial clause that can overrule anything that was written in the main contract.
In my view, this is certainly misleading and was not made clear to anyone who signed, even after tacking legal advice!!!!!. These contracts should all be made valueless by the European Court of law and the Indemnity payment annulled.
These are one sided contracts that do not protect the consumer.
Ian,
the CMA is the Competition and Markets Authority in the UK and the CCPC is the Competition and Consumer Protection Commission in Ireland.
We have called on all owners who have experienced issues with their leaseback property to submit complaints to their relevant national consumer body. There is a process of investigation going on, the CCPC are liaising with their counter part in France, the DGCCRF.
We want to pressure the European Commission, who have already called for an investigation, to ensure that this is fully investigated and protective and redress measures taken.
Of course, the French have known of serious issues related to leasebacks for years, but this is the first time that the EC has called for an investigation. It's clear that the EU market is not working and not working to protect consumers in transactions across EU member states.
It needs to be dealt with.
But it won't be quick.
But if owners do nothing then the issues simply carry on and these operators carry on unimpeded.
Thanks Sinead, I did log my complaint !
cool !