exunderfive 9:34 Tue Mar 28
Financial expert advise!!
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Have we any experts on here that have knowledge of the following companies?
Caledonian equity group and Essex and London LP
I know it's a long shot but i would really appreciate it if anyone has knowledge of either of these companies and if there legit?
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Replies - Newest Posts First ( Show In Chronological Order)
Dicko75
12:06 Wed Mar 29
Re: Financial expert advise!!
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Don't go near any of these.
Firstly no legit firm would cold call you then ask you to stump up a downpayment. It's a scam.
The second firm openly flags the speculative high risk nature of the investments plus the fact they strip you for 20/25% in fees. This is not something you should be putting you pension fund anywhere near unless you want a miserable and poverty stricken retirement. If you want to buy property, you can invest in a property fund or investment trust and pay 0.25% for a professional run, long established and regulated company to manage your money.
Whomail me if you have any more questions but please don't go near these firms.
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Gavros
10:45 Tue Mar 28
Re: Financial expert advise!!
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i know Johnsonnym.
Barking & Dagenham has the biggest year on year price rise. Luckily i have my fingers in that pie.
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DocMarten
10:41 Tue Mar 28
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Property gone through the roof here in and around Upminster. Especially last 2yrs. A couple of agents I've spoken to say more to come when Crossrail actually starts.
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DocMarten
10:39 Tue Mar 28
Re: Financial expert advise!!
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Trev, exunderfive..
Yep. Misunderstood that. Apols.
By seeking proper advice you're already doing the right thing.
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Mart O
10:29 Tue Mar 28
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''Payment up front to complete the negotiation'' ?
You'd have to be daft to do that, no ?
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Johnson
10:27 Tue Mar 28
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Prices are still rising west of London where the line isn't open yet I believe Gavvy
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exunderfive
10:26 Tue Mar 28
Re: Financial expert advise!!
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Doc the sipps was used to purchase storage pods for store first!! yes i know if anyone knows about these it's a rip off but i do have solicitors on the case now as they advertise in there company prospectus/and website that in year 5 they ( store first ) will " Guarantee " to buy back at the origional purchase price, i am in yr 5 now and contacted them to proceed with the buy back to be informed that there prospectus/website is not a legal contract!! flummoxed me did that one, hence solicitors are now the case
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Gavros
10:24 Tue Mar 28
Re: Financial expert advise!!
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"According to the ONS, the desire for professionals to live outside major cities and commute to work is at a record high, which is also assisting growth to expand in regional variations"
That's an outright lie.
"Cross Rail 1 will launch in 2017 with the Elizabeth Line, which will connect Essex and Buckinghamshire through Central London. Savills and Foxtons believe that this will give a boost to property prices across Essex and Greater London."
It gave a boost to property prices about 4 years ago.
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Trevor B
10:22 Tue Mar 28
Re: Financial expert advise!!
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Doc
I think you're misunderstanding this, he already has sipp storage pods and the two companies mentioned are offering to buy them from him.
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DocMarten
10:20 Tue Mar 28
Re: Financial expert advise!!
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I look after my own SIPP, having moved some of my pension from my employer to another provider, so did some research into this. I'm also a subscriber and reader of Investors Chronicle.
I never once came across SIPP Pods in my research, nor come across the term in the Chronicle. That is not to say they aren't valid investment vehicles, but I'm surprised I've not come across them.
That, and the fees, is what raises alarm bells to me.
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eusebiovic
10:20 Tue Mar 28
Re: Financial expert advise!!
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I suggest that you watch...
The Martin Lewis Money Show - LIVE!
That guy knows a thing or two about a thing or two
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exunderfive
10:18 Tue Mar 28
Re: Financial expert advise!!
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Thanks Trevor,
I will take all advice and seek professional knowledge, appreciate your advice
Many thanks again...was expecting a barrage of unhelpful comments!
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Mike Oxsaw
10:14 Tue Mar 28
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Don't vote leave.
Bag of sand please.
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Trevor B
10:14 Tue Mar 28
Re: Financial expert advise!!
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The E&L property company seem legit enough to me, they are based in Lombard Street which is bang in the centre of the square mile. Most of these property speculation companies are not regulated though so they aren't under the FCA and if you were investing with them you would have recourse if they lost your money, but if you are looking to sell your sipp storage pods I don't see why there would be anything to be wary of about them. As with all these things though if you want to be safe then take some legal advice first.
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exunderfive
10:13 Tue Mar 28
Re: Financial expert advise!!
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thanks Doc,
As i have just said i have very little experience in this market
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DocMarten
10:11 Tue Mar 28
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Id get in front of a proper IFA and seek help and guidance from them.
Those 20-25% fees sound like absolute robbery to me.
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exunderfive
10:10 Tue Mar 28
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So Spandex....Stay clear then? I'm just a working class man in Printing and have very limited knowledge of the financial world!
Thanks though
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exunderfive
10:09 Tue Mar 28
Re: Financial expert advise!!
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Essex & London LP have my details also ( not sure how )
They want investors for property they buy and sell, they are promoting properties in Essex with the impending crossrail link, Again i can't find any bad info on them and as i stated to them on the phone it sounds too good to be true..which as we all know it usually is! The speel they come out with is very cleverly put though!
Trevor...Yes the Caledonian one is based in china but i think also has a London office/branch phone & address details.. Thanks for looking for me i do appreciate it
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Spandex Sidney
10:03 Tue Mar 28
Re: Financial expert advise!!
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Great line from the Essex and London Property website
'Approximately 20-25% of each investment will be used to pay intermediary and management fees, including but not limited to accountancy, legal, escrow, administration, IT and brokerage fees.'
BARGAIN!
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Trevor B
9:58 Tue Mar 28
Re: Financial expert advise!!
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Yeah that payment up front doesn't sound completely above board. Is this the same company as I see that's based out of China? I'd avoid if I were you and try to find a UK based company that might offer the same service. What's the relevance of the other company you've asked about?
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exunderfive
9:50 Tue Mar 28
Re: Financial expert advise!!
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i was ill advised to transfer my sipp pension into storage pods, the caledonian company has contacted me in regard to purchasing these from me for slightly more than i paid for them, i have requested literature from them for all aspects/agreements ect but my concern is they want a payment upfront as a bond/commitment from me so that i will complete the negotiation!
I have tried searching to find any feedback on this company but to know avail unfortunately, this is why i have asked on here in hope of advice
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