How I lost £5,000 :(

[Bez]

I have tried to trace Grathal re his posting last November How I lost £5,000. If anyone can put me in contact please do.
If anyone else is having problems dealing with HIFX please let me know.
They have done exactly the same with my husband and I and are extremely aggressive and very difficult to deal with. Be warned or you will probably find yourself in the same position as Grathal and I. As such a large company it is easy for them to threaten individuals.
Please let me know if you are having any difficulty at all with them or know of anyone else who is.
Thanks
Bez

[smullin]

Originally Posted by Bez

I have tried to trace Grathal re his posting last November How I lost £5,000. If anyone can put me in contact please do.
If anyone else is having problems dealing with HIFX please let me know.
They have done exactly the same with my husband and I and are extremely aggressive and very difficult to deal with. Be warned or you will probably find yourself in the same position as Grathal and I. As such a large company it is easy for them to threaten individuals.
Please let me know if you are having any difficulty at all with them or know of anyone else who is.
Thanks
Bez

Hi Bez,
I actually used both Homes Dubai and HIFX. HIFX did loose two of my payments along the way but fortunately I was able to track and recover, I was paying in Euros to Dirs. I purchased in International City from plans 3 years ago and made the incremental payments through HIFX. However what I later discovered to my horror was that the payments were going straight into Zul's (owner of Homes International)Dubai account, which had previously been denyed from his office.
Much to my regret I made all the payments on time and in full, as when I finally recieved my contract from the building owner it stated I had actually bought a large studio and not the one bedroom apartment I had paid Zul in full for. A difference of approx 13k, He will not refund me the monies I paid into his account. Please everyone that reads this be warned about this rogue company and their lack of professionalism and integrity. I would forewarn all to use any other agent than these. I would like to know who regulates this industry in the UK as I am very keen to extract my 13k by any means and if that means even 5 people dont use them in future ,that would suffice.
regards
Shane

[anil]

I used Homes Dubai and got away with it.

I was concerned when I did not get receipts for deposit payments and had to write some nasty letters before receipts were sent to me. This proved critical as when the final statement arrived from Dubai 2+ years later, guess what?.. the deposit payment was missing!
Anyway, with receipts and a trail of emails, it was resolved.

Infact, I had no support or contact from Homes Dubai from the point they took the deposit.. I was dealing directly with people in Dubai.

As for HIFX, I have not had any issues. When I need to make a payment I just call them to do the currency conversion and then fill in the froms to do the transfer. I do not tell HIFX anything about the agent/property or purpose. I have used them for various currency payments.

Regulation! There is none. The whole property investment industry (UK or overseas) is totally unregulated. So buyer beware.

I am now using Select Property and the experience could not be more different.

[Bez]

Dear Shane
Thanks for your reply. Our problems are only with HIFX but they are big problems.

We had used them a few times before they encouraged my husband to buy currency in advance. Everyone be warned they do not do as they say they will.
Re regulation the currency part is not regulated by the FSA but I have been in contact with them and the Financial Ombudsman and have been advised to contact Trading Standards and Her Majesties Customs which I am about to do. Unfortunately international currency is not covered by the FSA however if the problem is to do with mortgages or insurances they are monitored by the FSA.

When trying to resolve issues with them they do not care. In my experience rather than try to resolve a problem they pass you on from one to another or ignore the problem. Having dealt with approximately 20 people it becomes impossible to resolve. neither do they do what they promise.

I am collating evidence that shows they have treated other clients very similarly and it costs the clients. Please let me know of anyone else having problems with them.
Thanks
Bez

[Bez]

Is anyone still in contact with Grathal if so please send me thread.
Thanks

[iimz]

Hi

I am a full time investor based in Dubai for last 24 years. If there is any way i can assist you in helping you find the right property and facilitate your decision then be sure to contact me.

I will be more that happy to assit the overseas investors who have limited access to happenings in Dubai

My contact is iimz at hotmail dot kom