bought a house abroad, off-plan, not built yet, paid £1800 deposit to the estate agent in this country, by credit card, who passed it on to the building company abroad and took a commission. I am sure I can retrieve this £1800 under consumer credit act from my credit card company.
The tricky part is that the a balance of £55000, for part-payment was paid directly to the building company abroad, they are possibly now insolvent, although we havent had confirmation yet, they dont reply, but this is the speculation by other investors on a forum and in the newspapers. I know that under the consumer credit act you only have to pay a deposit on the card and if the rest is paid by other means you can still be covered up to £30000, however our problem is that a relative paid this from their bank directly to the building company, we have to pay the relative back the money though, it was a loan and we have an agreement in writing. Will this be covered, we can prove that the money went to the same company as the credit card money was forwarded to and also with regard to the same referenced project, will it be classed as same transaction or is the fact that the balance is in someones elses name invalidating?