Simarc Property Management Ltd

EDM number 2135 in 1992-93, proposed by Terry Lewis on 09/06/1993.

That this House is appalled that homeowners in the North West are again being subjected to exploitation by unscrupulous landlords; notes that Simarc Property Management Ltd. of Borehamwood, having acquired blocks of 999 years leases at auction, are now, by using unethical business methods, seeking to extract large sums from homeowners under threat of forfeiture of lease; questions also the propriety of Stevensons solicitors of Huntingdon acting for Simarc in demanding up to six times the annual ground rent for late payment when no account has been submitted; deplores the practice of seeking these amounts direct from the mortgage lender in each case; and calls upon the President of the Board of Trade to investigate these matters as a matter of urgency.

This motion has been signed by a total of 33 MPs.