Inside Track, the company that promised to turn a generation of Britons into ‘property millionaires’, has gone into administration.
Simon Lambert, This is Money – 29 April 2008
Inside Track’s model of recommending flats such as those in Manchester’s Hacienda building has collapsed in the face of the credit crunch
Britain’s biggest property investment company made its money encouraging people to purchase – at a supposed discount – strings of new-build flats to rent out: a business model that has faltered in the face of falling property values, below average rents and a mortgage freeze.
Inside Track epitomised the buy-to-let boom of recent years, with high-profile and ambitious advertising for its property seminars that it claimed would lead to riches – full article
Anyone heard from a london based investment company called TIC Ltd? Phones no longer work, website is down and emails are bounced. As a Property Portfollio Manager I have been contacted by many clients saying they have money tied up in potential buy to let properties with this company. Another one bites the dust….?
Comment by Sorrel — 2/5/2008 #
Ahhh, I had noticed that they hadn’t been pestering me for a while. TIC were always on the telephone telling me what they wanted to do for me.
Problem was, they didn’t like LISTENING too much to what * I * wanted them to do for me.
Odd company, kept telling me that I couldn’t get 100% BTL mortgages anymore while I was actually in the process of being given two more – and completing one a previous one.
I don’t mind people telling me things I cannot do – so long as they don’t get in my way of doing it anyway.
Comment by Mark — 25/5/2008 #