MRI Overseas Property review: lies and untrust worthy 103

Hi Alison

we have started to combine groups now and are collecting people's stories and statements of their experience with this company, CFP and the solicitors legal Independence. We are all people who are going through the same ordeal. There is a member who has worked very hard to recognition from their MP and MEP. These in turn are contacting the OFT and others.

Anyone else who feels lost in this, please get in touch and add your story to help prove there are many people who have been misled by these companies.

It is called the MRI Support group.

mrisg@hotmail.co.uk

We invested in Corvera Golf Sep 2005 off plan after high pressure selling by MRI, they said they would resell the investment Sep 2006.
We visited them in Spain in Sep 2006 they refused to see us, we have sent a large number of emails most times receiving no reply.
We finaly received a reply saying they were not interested.
We are now some 4 to 5 months from completion and lok like loosing 74, 000 euros
We need help to cancel the contract.

Philip & Mavis Warrilow

WE NEED HELP BEING OVER 65 WE CAN NOT AFFORD TO COMPLETE WITH OR WITHOUT A MORTAGE

they area bunch of charlatan. they cheated me as well. I am going to take them to court. could you please support me with any documents/support?

Alison,

I have friends who contracted with MRI to purchase 2 properties in Bansko, Bulgaria.

They paid 50% deposit on each property and are now hitting serious problems trying to get the Bulgarion mortgages...all sorts of stipulations which were not advised at the time of signing.

I just stumbled on this website. My friends will be interested in the MRI Support Group.

Anthony

You now can't gain a mortgage through bulgarian banks. It kind off defeats the purpose of why i bought mine. planned to pay for the first payment and second payment was going to be a mortgage of set against the rental income. Right as i am trying to get the mortgage sorted out i hear from CFP that bulgarian banks are no longer lending to foreigers. Have now got he second payment holding with the lawyers but have jsut had a call from MRI asking to release the funds to them early before i sign so it would speed up the process. If i do i get free maintanence for a year. Slightly scepticle.

MRI CONSTRUCTION - Silver Mountain Complex Bulgaria.

if you have bought in this development or are going on an inspection trip...be very carefull!, if the hotel part of the complex is not built (it hasnt started yet) then there will be no facilities at all apart from 1 outdoor pool. Get everything in writing before paying any money.

Also check the price per square meter, this is amazingly high! especially if there are no facilities!

If you are thinking of going on a DCC property inspection trip...DONT!...google mri/ dcc and look at /link removed/ these companies cause absolute chaos financially for their clients and they always always rip off their staff by not paying them...always!

IS THERE ANY LEGAL STEPS TO TAKE IF THE FACILITIES ARE NOT BUILT CAN YOU RETREIVE ANY OF OUR HARD EARNED CASH BACK

THIS COMPANY IS A SHAMBLES WITH LIES AND FALSE PROMISES.THEY PREY ON PEOPLE EXTORTING AS MUCH MONEY FROM THEM AS THEY CAN BY EMPOWERING PEOPLE WITH A KANGAROO COURT CONTRACT THROUGH THERE LEGAL DEPT CALLED LEGAL INDEPENDEANT.THE CONTRACT TO WHICH PEOPLE SIGN UP TO IS TOTALY AND UTERLY CORRUPT IT HAS NO CLAUSES TO PROTECT THE BUYER.IF THIS SO CALLED LEGAL CO WAS SO INDEPENDANT THEY WOULD SPIT HOLES IN THE ORIGINAL CONTRACT FROM DAY 1 BUT THEY DON, T THEY ARE PART OF THE WHOLE PROCESS LEAVING PEOLPE HELPLESS AND VUNERABAL NO WARE TO TURN BECAUSE THEY ARE HELD BY THIS SO CALLED CONTRACT.

DO NOT GIVE ANY MORE MONEY TO FUND THIS ORGANISATION JUST BECAUSE THEY SAY A PROPERTY IS WORTH X AMOUNT IN REALITY YOU WILL FIND THIS NOT TO BE THE CASE.THEY WILL OVER INFLATE PRICES TO GAIN AS MUCH PROFIT AS THEY CAN.IF YOU BUY A STUDIO FLAT FOR 65, 000 EURO WHEN YOU COME TO SELL IT WILL BE WORTH HALF THAT BECAUSE IT WAS NEVER WORTH 65 TO START WITH.THEY LURE PEOPLE IN WITH LIES AND SPIN

I have bought a 1 bedroom apartment in Aspen Valley Bulgaria.
I have been totally mislead as they said I would get full use of an equestrian centre and a golf course, this is completely untrue?
They have had all my money and all the paperwork is done but they have not sent my deeds so officially I don't own it yet? Nobody will answer my e-mails and I'm very worried as they've had all my money since November which is all borrowed so I'm having to juggle finances. I have now had to get an English solicitor. Anyone else in the same boat especially with this development?

i agree, i have been trying to get a refund from MRI re aftersales care/rental pac akage for over 6 months, they never return my emails and no answer on phone!. My property ORBILUX in Bansko was built and i have empowered another companty to manage rentals.
MRI are a complete scam, has anyone contacted WATCHDOG to inform them!.
The negative publicity in this economic climat would kill them

i have just spoken to GREIG OBENEY who looks after the aftersales in Bansko, he has assured me that someone from finance will call me today to arrange a refund "I WAIT WITH BAITED BREATH!"

Hi everyone... we have had dealings with MRI in Romania. They do not return e-mails...have not furnished us with a contract and we feel we're going to end up €54, 000 down...The project has been running sice Jan 07, now in its third year! As there is a group forming to fight agsinst them and their shoddy practices, please let me know how to join. The only way they can be fought is by large numbers.
Regards
Bumblebee

Hi all, we purchased some properties with MRI in Bulgaria, and has found them a complete nightmare to deal with. With one property we could not get a mortgage, and had to borrow the funds, and with another property Aspen Golf we eventually received confirmation that the bank would lend us this money last August., Subsequently we signed all papers etc and then found out the bank would not transfer money without updated financial proof, we are still awaiting a decision. I have tried to call/email MRI regarding several issues, and never get a reply. Has anyone else had problems with the furniture installation at Aspen Golf? Paid over two years ago, and won’t install as VAT was apparently not paid. They also won’t refund deposit of rental package. Any ideas how to get out of contract?

I have put down 30% deposit for a property in Lakeview Turkey, have heard nothing from last year, and have since heard there office in Turkey has closed, do you think this is true?

We put a deposit on an apartment in duquesa costa del sol it never came through. Now 3 years later we arrying to get our deposit back has anybody had the same problem? Can you contact the solicitor involved .
Hannanne G

Hi Alison
wer contacted you a few weeks ago but have heard nothing from you. We are getting increasingly desperaate, having purchased in both Cyprus and Bulagaria with MRI. They have bled us dry and there is no prospect of rental or sales. facing hugh debt unless able to fight the company with others.

Please, please get in touch and tell us how to get involved with your campaign

hi everybody. i bought a property with them and paid over 20, 000 euros deposit, i have since failed to get a mortgage and have lost the apartment. there must be a way of taking them to court as they sent me a letter in june 2006 telling me that everything was ok but just in case to look for more money. i had furnished the flat at this stage. so all in all i'm down 25000 euros. i still have all the documentation they gave me and the predicitions that i based my decision of buying on. i have tried to sell my apartment, a person from england was helping me sell it, i gave him my members login to look at the pictures, that has gone as well, and today, i find out that they are selling the same studio apartmrnts at half the price i paid. if you need any of the documentation i have just send me an email at michaelbrowne2005@hotmail.com and i will send it on. that ### has bought a football club now with our money, maybe we should tell them to watch their backs. my cousin worked for them and he left, he was owed 60, 000 euros. he told me that the boss has two bodyguards with him at all times becuase he owes that much money to people

I'm in a simliar positon in Bulgaria and have started my own website to give more info ...

http://myweb.tiscali.co.uk/number5/web1.htm

has anyone invested in Turkey or knows someone who has?

has anyone invested in Turkey or know anyone who has?

this is rediculous! How are they getting away with doing this? so many people are in the same predicament and have been robbed of everything they have worked their whole lives for! does anyone have a success story? my parents purchased 2 apartments also with the exact same problems and they now face financial ruin. If anyone has any tips on how to deal with mri legally or otherwise please contact me lindakelly454@hotmail.com

HELP

I have two very elderly in laws living in spain they have put a deposit down on a place in Bulgaria after being told they could get a mortgage once the deposit was paid they were then informed that the could not get a mortage MRI are now bullying them that they need the full funds and are putting the pressure on big time making them worry out of there mind. They are also saying that they require the rest of the cash for the place when claerly they dont have it. I am currently in the UK and very worries but not to sure how to sort the problem out. Please if there is anyone out there who can help please email me andreaanneoliver@yahoo.co.uk these people have to be stopped but how. Maybe all of us could contact Watchdog

Hi I am having problems with MRI they have not returned any of my emails... I bought in Adelaide development in Romania ... I will be going to Romania to speak face to face with the builder and the lawyers ...I have spoken to the builder and have a meeting with them. Does any one from the Sydney or Melbourne developments in Romania have any comment the builder mentioned legal action against MRI ... I have invested 54000 euro and I am going to try so hard to make this work even if I have to put all the Ikea furniture together myself

My wife and i have paid £35000 towards a property in Morocco we have been told by MRI that the developer has gone bust and we have lost our money.We are both OAPs and are worried sick. MRI say it is nothing to do with them but they sold us the property can this be right.

Hi
I was bombarded with phonecalls after attending an MRI property fair and consequently bought an apartment in Cyprus in '06 which is now complete but with the current financial climate I cannot continue with the purchase.I have tried contacting MRI with no success and their office in Protaras has now closed and I was informed they no longer do re-sales in Cyprus.
I have it up for sale but have been told it's now worth much less than I paid originally.
I don't know where to turn.
I would be much appreciative of any feed back or advice especially to do with legal proceedings against MRI
Thanks

janfulton@tiscali.co.uk

Like many have purchased property in Turkey with MRI and have been left high and dry too. They have taken money for rentals then decide not to market the properties and pull out of the country. I get the feeling they will just stay in a country 2 / 3 years, fleece the hell out of everybody then move out, bit like a plague of locusts.

Also Capital Finance partners who gave me the figures and said i could go ahead with the purchase are just as bad, and since found out have links with MRI.

Vic McKeown From CFP just lied by stating my property would be worth 30% more on completion, thus pulling my 30 % deposit back on completion out and this would be risk free.

I think this forum is really great but still we all do need one voice. I think everyone or inputs on here or reads this should complain to
vetting.section@berr.gsi.gov.uk

and also contact Watchdog on the BBC.

The only way to get moving on this i think is over a 1 month period to bombared the above websites with as many emails as possible so that who ever is on the other end actually will think their is a genuine case or story to be told about MRI and its dodgy associates.

Thanks Darryl

OH MY GOD! knew things were bad but never guessed just how bad - they are setting up a meeting in Galway, Ireland for Friday 15th May 2009 should we attend?

For anyone who believes that they have lost money to MRI, or any of its associated companies, we are a group of people who are trying to get something done to stop what is happening and get justice for all the people who have been scammed, told lies, been threatened etc.
You can send me a private message through this site, or via www.eyeonworldwide.com. Go into Bulgaria, then Palazzo. Do not mention the company on this site, or it will get deleted, as many previous posts have.
You can also pm me through eow.
Izzy

How does this company keep trading the mri are an absolute disgrace.
We purchased a off plan property on Sal Cape verde islands in march 2008 .Having been on an inspection trip with the mri.We paid the first installment of £28, 000 to the builder.We had little or no information with mri untill april 2009 .To attend a meeting in Leeds in May to discuss our investment. There we were told the builder seems to have disappeared, whether this is true or not we do not know.We were given 3 options1: stay as we are and more than likley lose are money
Option 2 Take up legal action with builder( if you can find him)
Option 3 Roll the money over onto another property in Bulgaria and the mri will stand the loss(knocking off the £28, 000).We agreed to option 3 Bulgaria in our distressed state. We arrived home after paying 6, 000euros resevation fee.T.o realize that they were not trying to help as origanally thought as we were still tied to original contract, but tring to take advantage of the situation and line theiR own pockets Having reserching further into Bulgaria and property
in Banski ski resort also talking to solicitor involved in properties abroad, came to the conclusion we had been illadvised by Mri and not to go ahead withBulgaria.WE contacted the mri to tell them this and asked them to refund our resevation fee but they have refused.
Rachel

I just cannot believe that there is any legal way that MRI can do this. We were invited to a meeting last week regarding a property we have been tryng to complete on in Albufeira and they tried the same scam on us. The difference was that they wanted us to walk away from Albufeira (I understood that they would take the Albufeira apartment) and purchase one on the Silver Coast that MRI themselves were building and for that they would drop the price from Euro190K to Euro140K. All we had to do was pay Euro6K reservation 30 days later 30% deposit next year in May another 20%(this could be drawn down from a mortgage that MRI have already negotiated) and May 2011 the final 50%(also from the mortgage). The very good news for us was that MRI were going to pay the interest on the 20% drawdown for the first year. WHAT SHOWER DO THEY THINK PEOPLE CAME DOWN IN! I suggest that when they call anyone else and arrange to meet them take the police and lawyers with you because these are so crooked it is not even funny!

i have been involved in Oceanville development on the algarve i have been told my deposit is gone and i have no chance of getting it back i would be very interested in hearing form anyone else in a similar position with mri

Hi, I bought a property in Bulgaria in Silver Mountain. Most of the above complaints regarding communication etc I can relate to and, having talked to some estate agents, I am fairly sure I have been oversold by almost double. Anyway, they say they are taking me to court for the other half of the money. It was quite a relief to find this board and if anyone has had any success winning against them (especially in Bulgaria) please let me (and indeed all of us) know. my email address is dcbrain@email.com

I am in the same position with a property in bulgaria and would like to know WHAT DO WE DO NOW?

Hello everyone

i just got back from a meeting with MRI. I had invested in morocco in 2 apartments and paid them £63, 000 so far. i was told my investment in morrocco had failed and the developer had run off so that money was now lost to me.
as a moral obligation MRI told me they were willing to offest this loss against a property in either bulgaria or florida. They put unbelievable amounts of pressure on us and now that i am home i realise they were trying to con me even further, trying to offload a house for 100k that was only worth 40! Is there anyone else out there in the same position. Is there anything that can be done?
My email address is mabdulhussein@gmail.com

This is what they are doing to everyone - check the status with your lawyer or maybe for 63K it might be worth another visit to the area and see if you can get another lawyer who specializes in dealing with overseas English Speaking clients. It may cost a bit more in legal fees but this company have been known to get their facts wrong before. I have 'bought' in Portugal and they told me my development will never be saleable because of the Habitation License issue this has been totally refuted by the Developer, Town Hall and other buyer solicitors (who were not introduced by MRI). So my advise to you would be, to do a lot more digging before you say your money is lost and DO NOT BELIEVE ANYTHING THAT MRI SAY they are trying to off load more misery to any 'poor' soul who is silly enough to fall for it.

MRI are doing this everywhere it seems. If you look at blog called invesment property rumours dot blogspot dot com you can see the whole Cape Verde thing.

A question to ask with regards to Oceanville is where did they get contact details from? My sister-in-law bought through Parador Properties and yet MRI contacted her. Parador assure her they would not pass details to others (Sure they would, but not to a competitor!).

Steer clear, is my opinion. Walking away from an apartment to take on an overpriced Silver Coast property is not good business. Everyone offers discounts nowadays, to dress it up like "rescue" is insulting.

Izzy, would be interested in a dialogue. How can I contact you?

Hi Enterado
You can send me a private message on eyeonworldwide.com. I have posted on the site for Bulgaria, then Palazzo.
Izzy

Hi.
Our MP has been working towards doing something about MRI and is currently in the process of reviewing all the evidence I have sent him.
He is in touch with various organizations and they are meeting to discuss how they can help us.
I am now going to contact the PM about this, to try to add some extra weight.
I am also contacting the Bulgarian Embassy, as what is happening in Bulgaria is giving Bulgaria a bad name.
Anyone who is interested can contact me privately via the eyeonworldwide.com site - search in Bulgaria, then Palazzo and you can send me a message.
A support group has also been set up.
Izzy

Izzy,
I am a MRI - Silver Mountain purchaser. I have been visited the site since February. Externally not much has been done. I am now being chased by the Lawyers to complete the transaction. I cannot find your entry on the eyeonworldwide.com website. I would be interested in joining the action group.