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Holiday home families lose cash | Holiday home families lose cash |
(40 minutes later) | |
Twelve families from Northern Ireland have lost tens of thousands of pounds in a property deal that has gone wrong. | Twelve families from Northern Ireland have lost tens of thousands of pounds in a property deal that has gone wrong. |
They had each invested £50,000 in apartments in the Calabria area of Italy but they have never been built. | They had each invested £50,000 in apartments in the Calabria area of Italy but they have never been built. |
The families are now fighting to get their money back in a joint legal action. | The families are now fighting to get their money back in a joint legal action. |
They had each signed an insurance document to protect them from any losses but it has turned out to be worthless. | They had each signed an insurance document to protect them from any losses but it has turned out to be worthless. |
A solicitor representing the families said they had all gone about the purchase properly and had carried out all the safety checks. | A solicitor representing the families said they had all gone about the purchase properly and had carried out all the safety checks. |
Sharon Moore, from east Belfast, who was diagnosed with cancer four years ago, said she used money from a critical illness policy to put towards the sale of a holiday home in Italy for her family. | Sharon Moore, from east Belfast, who was diagnosed with cancer four years ago, said she used money from a critical illness policy to put towards the sale of a holiday home in Italy for her family. |
However, the apartment was never built and they have lost the money. | However, the apartment was never built and they have lost the money. |
Sharon Moore's family invested £50,000 in the apartments | |
"This money didn't come easy to us," she said. | "This money didn't come easy to us," she said. |
"We didn't have that sort of money lying around. We just thought it was something for our family's future after the hard struggle we had come through. | "We didn't have that sort of money lying around. We just thought it was something for our family's future after the hard struggle we had come through. |
"The bottom fell out of our world and we are still paying this money back in a mortgage." | "The bottom fell out of our world and we are still paying this money back in a mortgage." |
The families' solicitor, Simon Chambers, said they felt badly let down by the English-based lawyer who did the conveyancing work. | |
"These are normal people who, to a large extent, have put their life savings into this," he said. | |
"They simply wanted either a holiday home or a small investment." | |
Mr Chambers said the families hoped to start their legal action in the autumn. |