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MRI / Silver Mountain

1 United Kingdom Review updated:

We purchased a studio appartment in 2007 and paid 50% deposit in total. After being promissed guaranteed finance, we have been told that it is not available and we have to find the money. After a meeting in Leeds 11 days ago, we have been told we can either pay the remainder in full, pay half and then half over three years, or the bank will take our property and MRI will sue us for a further £7, 000 euros. What we want to know is MRI DO NOT have a signed contract from us. We have to proof of payment of our money through HIFX but do not know what todo from here. How do we stand legally?

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  • No
      13th of Sep, 2009
    0 Votes

    Would urge b/away to join website where hundreds of scammed investors of MRI post info and case histories. Also it can link you to other specific groups and join together for legal action. Although evidence by investors and action taken against them by professional bodies indicates dishonesty and reckless misrepresentation on a massive scale they, like all clever con artists, have tried to tie up the legal side of their contracts so that they will have a their customers over a legal barrel. Only determined group action will stop their tactic of picking off investors one by one with threats of court action and lost deposits. Silver Mountain has not seen builders for months, is no nearer habitation certificate standard ie Act 16 and investors have been told it will not have any facilities at all even if it is ever finished. So much for the swimming pools, spa, ski facilities, shuttle bus, bars n restaurants, guaranteed rental blah blah.

  • Ke
      4th of Jan, 2010
    0 Votes

    I too have bought an apartment at Silver Mountain in Bulgaria and await completion. Promised updates have not materialised, and my Bulgarian solicitor is asking for 3000 Euros up front to pursue penalty clauses.
    Is there a concerted efforrt underway to brin about a solution?

  • Pe
      10th of Mar, 2010
    0 Votes

    I bought and paid for a studio apartment and furniture pack from MRI and it was supposed to be finished a year ago. Then MRI dropped of the face of the earth. They got in touch in January to tell me every thing was fine and they would be in Belfast 19/2/10 at 1pm at the Hilton hotel. Surprise surprise i got a call at 10am to say the meeting had been canceled and i have nothing since. Legal Independence are also asking me for a large amount of money for a joint action which i would have thought would make it cheaper.Perhaps the rip offs have not finished. Does anyone know of an action group or association and all owner could get together

  • Pa
      29th of Mar, 2010
    0 Votes

    Hi Peva,

    You may not like what I have to say but here goes. Firstly it is a good deal cheaper to fly to Bulgaria go shopping for your furniture, furnish your house/apartment and have a holiday than to pay these people.
    If you have paid these people chances are you can forget it. If you want to fight them then the first problem is; who is your target? Are they still in existence. If its a company is it owned by people or by another company in Spain perhaps. You cannot attack something unless you have a target.
    Litigation in Bulgaria is cheap and it works but you have to have a case and the case has to have a defendant whether it be a company or a person. No target no case.

    The Commandments

    1.Do not buy a property that does not exist.
    2.Only buy an apartment in a complex where the common areas (lifts stairs gardens pools) are owned and controlled by the owners
    3.Never hand over money for a property unless you are sitting in front of a Notary in the Notary's office with all the relevant documentation in certified translation to hand and accompanied by your registered interpreter and your lawyer.
    4.If you need to grant a Power of Attorney to your Bulgarian lawyer or accountant to look after your affairs then the Power of Attorney should state clearly what they can do and the it should have a time limit.
    5.If you require furniture for your property come to Bulgaria and do it yourself. Its cheaper and you get a free holiday.
    6.Set up an private online owners forum for your complex.

    The most important thing is to take control of the situation! Waiting for people to find some morality is a waste of time. Many of these people do not know what morality is. In our experience when the owners get control of a complex the problems get fixed and a community based on mutual interest provides all the owners with security.

    Good luck


  • Na
      30th of Mar, 2010
    0 Votes

    Hello, you can contact bresserslaw office, probably they can help you.

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