Galliard Homes

[Exigeowner]

Anybody have any experience with this company, doing loads of adverts on the radio for upcoming projects with guaranteed returns, exchanges of contract for £ 1000 etc

[The Londoner]

No, but I imagine that this is another too good to be true offer. You get your flat in a new development let for a few years with a guaranteed yield i.e income, but the problem comes when the guarantee expires, and x number of investors find themselves either trying to relet or sell against the competition within the block of everyone else who is in the same position. If you are tempted, go in with your eyes wide open. All imho of course!

[lambogenie]

they built a number of developments around butlers wharf including if my memory serves me right butlers tea trade wharf.

they did this scheme on those flats, investors paid top whack off plan for something like 2 year or 3 years rental guarantees - then as soon as they ran out most of the landlords realised the flats were way overpriced for the area and tried to sell them, the rents they were asking were just silly and so most of the flats were fairly unlettable. lots of stuff got dumped cheap and at a loss, a few who have hung on have done Ok due to the boom market catching up, but to be fair nothing is substitute for a proper price/yield valuation. If they are having to subsidise your rental income then it stands to reason that unless the market outperfroms and overtakes the subsidy you will be out of pocket at some point.