A property firm which claimed to be selling one property every two hours has been scolded by the advertising watchdog.
FreshStart Living Ltd, described by the Advertising Standards Authority as a property management company, claimed on its website: “We are currently selling an average of 1 property every two hours, 24 hours per day, 7 days per week.”
However, a complainant challenged whether the advert, which appeared in August, was misleading and could be substantiated.
The firm sent the ASA a screenshot of their logging database that recorded dates of exchange and maintained that they had sold 360 units in June 2011. FreshStart Living believed that the screenshot substantiated the claim. However, the ASA failed to be convinced and upheld the complaint.
The ASA said that the screen shot of the logging database showed seven individual exchanges only, and a series of numbers in brackets beside a few specific dates in June that added up to 360.
The ASA ruled: “We noted that we had not seen documentary evidence that demonstrated that the sales claims for each of the dates were genuine. We therefore considered that the claim had not been substantiated, and concluded that the ad was misleading.”
The claim must not appear again in its current form.
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latest info
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PROPERTY INVESTMENT SCHEMES EXPOSED ON BBC TV
Angela Rippon, Gloria Hunniford and Julia Somerville investigate what's being done to tackle the property investment schemes that have cost tens of thousands of people their entire life savings.
BBC ONE RIP OFF BRITAIN : Wednesday 22 February 2012
19:30 (7.30pm) EVENING
Brand new BBC consumer affairs series ‘The Legalizer’ is looking people to take part
New BBC 1 series “The Legalizer” has just gone into production and aims to show consumers how they can fight for their rights, through the courts if necessary. If you’re feeling cheated, ripped off or badly treated the producers want to hear from you.
“The Legalizer” is presented by a highly qualified barrister who will use his knowledge of the justice system to show citizens that they are not helpless and can use the law to resolve things for themselves.
The series aims to show viewers how the Small Claims Court process works and how they can get justice for themselves. Fulcrum TV, the producers, say they’d like to hear from people who feel that they are out of pocket through no fault of their own and want to take the matter further:
“We’re looking for people who feel they’ve been badly treated and want redress. They may have tried to return faulty goods and been refused or paid for a service that was never delivered”. But it’s not just goods and services that The Legalizer will investigate “we’ll be looking into variety of cases, particularly where vulnerable people have been taken advantage of or where the elderly have been pressured into buying things they just don’t need”.
If you, a friend or a relative feel you’ve been cheated or ripped off or you think you’ve tried everything to solve a problem but with no joy then contact “The Legalizer.”
Tel: 020 3372 8521
Email: thelegalizer@fulcrumtv.com
Write: The Legalizer, Fulcrum Television, 14 Bowden Street, London SE11 4DS
For the lowdown on these characters:-
http://whatconsumer.co.uk/forum/consumer-news/15494-freshstart-living-limited-fresh-start-living-limited-freshstart.html
http://forums.moneysavingexpert.com/showthread.php?p=49720531
http://www.thebusinessdesk.com/northwest/news/264247-fresh-start-living-warned-by-asa.html
FreshFart if you ask me!
This story is all over the net today thanks to Estate Agency Today featuring the ASA ruling.
This on moneysavingexpert.com
Spot the difference?
How many properties do Freshstart Living claim as “on target to sell by the end of our financial year” – 2,000?, 3,000?, 100,000?
FreshStart Living to float on AIM
“The business, which has completed a string of acquisitions this year, is on target to sell 3,000 units in the financial year to December 31 2011.
Manchester Evening News : September 29, 2011 http://menmedia.co.uk/manchestereveningnews/news/business/s/1460163_freshstart-living-to-float-on-aim
FreshStart Living rapped by ASA
“FreshStart Living has sold 1,400 properties since the start of our financial year in April and is on target to sell 2,000 by the end of our financial year 2011-12.
Manchester Evening News : December 30, 2011
http://menmedia.co.uk/manchestereveningnews/news/business/s/1469266_freshstart-living-rapped-by-asa
Other claims Freshstart Living have now removed from their website include
FreshStart turned over £4,000,000 in the last two months
FreshStart now has 4000 student units in its pipeline
FreshStart is on target to sell 3500 units in 2011
FreshStart's GDV asset base now stands at £40m plus with no debt
our current GDV under construction is £75m
£10 million pounds worth of equity created for FreshStart clients
We are currently selling an average of 1 property every 2 hours 24 hours per day 7 days per week
Freshstart have on average 5 buyers for every property they release
Freshstart Living must be barking mad to make such daft claims. it means they would be selling 350+ properties per month. At £60k each that would be £21,000,000 per month!!!
So therefore £250,000,000 per year!!!
Reproduced from Mail on Sunday
First-time buyer specialist FreshStart Living hopes for £50m
By MARK FOXWELL
Freshstart Living, which specialises in selling homes to first-time buyers, is looking to float on Aim for up to £50million.
The firm, which regenerates run-down or empty sites often bought from insolvent owners, has appointed Holland Bendelow Consulting Group to run the process early next year.
FreshStart has assets of £40million in property, much of it near its base in Salford, Manchester.
The company’s bosses have had a rollercoaster ride to flotation. Founder Andrew John Camilleri is bankrupt with debts of £500,000. He stood down as chief executive in January.
His cousin Alan Pierce is now the majority owner of the group and is set to make a paper fortune from a float.
Sole director Phillip Wright’s previous company, Wrightchoice Developments, is in liquidation with debts of £4million.
Read more: http://www.thisismoney.co.uk/money/markets/article-2055368/First-time-buyer-specialist-FreshStart-hopes-50m-listing-Aim.html#ixzz1hShdABio
Freshstart are all a bunch of cowboys who rip off unsuspecting buyers by taking reservation fees and deposits on unfinished properties which never get built. A trail of destructions follows in their wake at every turn. Stay well clear.....
Companies House show them having a net worth of £3835 and cash at bank of £810 n their last accounts, not making very much them if selling that volumne.
Hi, I'm Fat Boy Agent.
I take 100 phone calls every 2 seconds
Handle 10 viewings every 2 minutes
And indeed sell 1 property every 2 hrs.
I eat 10.000 calories a day, I'm Fat Boy Agent.