Celebrity buy-to-let entrepreneur Grant Bovey is suing a buy-to-let investor for £4.2m after a deal to sell 34 flats at a north London scheme fell through.According to Property Week Bovey is refusing to repay the investors deposit and is counter claiming against the buy-to-let investor over a shortfall payment and losses sustained as a result of not being able to sell the 34 apartments that were originally sold.
The actions of Bovey and the investor high lights the on going problem where buy-to-let investors who bought off plan property in the boom are either unable to finance the deals or where prices have dropped to make purchase uneconomic.
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