Harlequin Property update: Confusion over true valuation of Harlequin investments

Update Harlequin 150pxHarlequin investors have been left confused over the true value of their investment, after one SIPP (Self-Invested Personal Pension) provider took the decision to value investments in the beleaguered property firm at just £1. A letter sent by the Lifetime SIPP Company to investors, seen by Investment Sense, says: “As you may be aware the underlying assets purchased with monies raised by investors through Harlequin Property were overseas property developments. Some of the developments have not been completed on ...

Harlequin property update: Investors face up to forfeiting deposits

Update Harlequin 150pxAs the Harlequin Property saga rumbles on, new research reveals investors could potentially lose millions of pounds in forfeited deposits. Central to the Harlequin Property proposition was “guaranteed mortgage finance”, which would allow investors to complete their purchase, having put down a 30% deposit. “70% guaranteed mortgage” Many investors used their own savings to fund the deposit, some used their pensions having transferred to a SIPP (Self-Invested Personal Pension), whilst others borrowed money by remortgaging their home. We have even spoken ...

Harlequin Property update: FCA urge investors to seek advice

Update Harlequin 150pxThe Financial Conduct Authority (FCA) has issued more guidance to Harlequin property investors. In a short statement published on their website, the FCA urged anyone thinking of investing in one of the Harlequin group of companies to proceed with caution. The FCA also recommended potential investors should ensure they understand the risks involved with the investment. Furthermore, the regulator recommended investors should take appropriate professional advice from suitably qualified financial advisers and lawyers, who specialise in the country where the proposed ...

Harlequin property update

Update Harlequin 150pxAnother week, another update on the latest goings on at Harlequin Property. Shipleys appointed as joint administrator It has been confirmed Shipleys LLP, has been appointed as joint administrator of Harlequin Management Services (South East) Ltd, which was trading as Harlequin property. The move comes after Carol Ames, director of the company, made an application in the high court to place the company into administration citing adverse trading conditions caused by negative publicity. Creditors of Harlequin have been asked by Shipleys to provide ‘Proof of Debt’ plus evidence to ...