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Imagine Homes gone bust?

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  • Imagine Homes gone bust?


    I would like some advice. I bought a BTL in 2006 for £270,000 through Imagine Homes. There was a guaranteed rental agreement for 15% - 7.5% per year on £270,000 for two years. The first year was paid when I bought the property (less their furnishing pack of £9000 and management fees of £4050 for 2 years - they billed for 2008-2009 management fees in advance).

    I was suppose to be paid the remaining £20,250 at the beginning of the month and I have made contact with Imagine Homes, rang, left voice mails, sent emails. Made contact with their financial controller who then informs me that she will need to speak with her director etc. Nothing to this date has materialised.

    So, they are renting out the property and are being paid £250 per week for a tenant who is living there. I am still paying the mortage on the property but am not getting the income that was agreed.

    I have checked on companies house that Imagine Homes has not been disolved nor have they gone into Administration - however, Imagine Furnishings has. Also - a new company called Imagine Homes UK Limited has been setup which has/or had the same registered address as Imagine Homes. Also - HBOS have a 20% stake in Imagine Homes.

    So my questions :

    - Do I get a solicitor to serve a Statutory Demand via a Process Server
    - How do I now get access to my tenant and remove Imagine lettings from just receiving the payment.
    - Obviously if Imagine homes are going bust then the tenant can kiss goodbye to their deposit but if I want to keep the tenant there then I doubt the tenant will cough up another deposit.

    Any help/ideas/plan of action would be appreciated.