i was hoping that there would be more interest as well. even to see what others are hearing from their solicitors, also i'm sure that there must be many that would love to know what is going on, only no one seems to know how to contact other buyers. thats why i hope that even through this site that they will be able to respond in the same manner as us. anyway,all the best for tomorrow with your sloicitor, i'm going on hols for 2wks but will try to access this site to keep up to speed on things.

Hi elimite

Our solicitor is Godloves and so far we haven't had any letter or communication from them. I will email them tomorrow morning and see if we get same story. Hopefully there will not be another developer interested and then we can cut our losses and the cloud will be lifted. Great to speak to someone else in the same situation. Surprised there hasn't been more interest on this forum, especially with the current situation. A couple of months ago the solicitor emailed me confirmation that our deposits would be refunded by the insurance company and there was something like 270 other apartment numbers on that list. Are we the only few that are edgy?

hi nervous wreck,

we got a letter from our solicitors stating that manyoo llp has gone into receivership, once they go into liquidation then the deposits can,apparently be claimed through the ins. company. there was a statement on an internet site last night saying that manyoo went into liquidation on 23/6/09. if this is true then i think it maybe only a matter of time (providing another developer dosen't step in) before the deposits are repaid.i'm far from an expert on these matters and would welcome anyone explaining these proceedures. can you ask your solicitor to confirm/deny any of what i'm saying,just to make sure everyone is on the same wavelength. is there anyone else there in our situation? any further info. would be welcomed greatly! so nervous wreck,your not on your own,we have all been through the mill on this. keep praying!!

We have also paid a deposit on an apartment at manyoo and have been very concerned about the fact that building has not yet commenced. The trying to get a mortgage has also caused sleepless nights because as already mentioned value will be less than what we have to pay. The solicitors have not been too informative or helpful and we have felt quite helpless. Only seen this forum yesterday for first time and after reading your latest post are quite hopeful now that there might be an end in sight. Will wait for another letter to drop through the letter box. Our deposits are meant to be guaranteed but who kinows!

hi all,

apparently manyoo llp have gone into receivership. there is a big possibility that the project will be scrapped if they go into liquidation. is this a probability or does anyone know of the "normal" procedure of events once things begin to take their course. is anyone else affected by this,and if so, what are your thoughts?

A decent property solicitor is the only person who can answer your questions with any certainty. If you haven't approached one who is independent of the development then do so - they'll be able to tell you how watertight the original contract is.

hi azimarie,

at present as you should have been told, kw linfoot have gone into administration but their partners (yoo) have vowed to carry on. the last word to us is that we are "on hold until the current market changes,and allows for the construction to begin" how can anyone determine that time frame? we believe that they haven't fullfilled their obligations, and we should be reimburshed our deposits,but as usual we are being told we are still bound by our contracts!

if and when the market changes, the downside will be that the apartments will be only worth a fraction of what we purchased them for, and not even a brick laid yet. how then will we be able to get a mortgage on a negative equity property. this whole project neds to be addressed, is there anyone out there who can shed any light on this.

how did the lumiere build in leeds pan out, how did those investors fare?

just read your comment conman killer, i understand what you say but how long can the developer keep people in limbo.

Don't know what more to add about your comment, you now either follow your Solicitors advice that you're paying for....or ignore it risk breaking the law, then suffer the consequences. !

hi

I am in the same situation .

do you have any info reg. how to pull out?

I contacted my Solisitor,he said there is nothing we can do about?

any info would be welcome

thank you

Hi -- I would suggest you visit a good property Solicitor who is totally acting in your interests and on your behalf to inspect the contract that you have entered into, to determine if you can withdraw without penalty.

It's important at this stage that you do receive impartial legal advice, as it could mean the difference between you being tied in once building work starts, every contract has different terms, conditions and get-out clauses, being unique to the planned development.

has anyone invested in this off plan developement. i have booked an apartment through an agent,my problem is that i can't get any joy in respect of what stage everything is at. the building was due to begin in june,and from what i'm led to believe,it hasn't started yet. i phoned the developers direct and the reply from them was very vague indeed, saying they were trying to finalise the contracts etc,and building would begin soon. does this constutite a breach of contract on their part? i can't ask my solicitors as they were assigned by the developers and assure me that everything is on course,which of course its not!

any help would be greatly appreciated.