Were You a victim of Grant?

Re: Were You a victim of Grant?

Postby Paul Clerkin » Mon Feb 01, 2010 3:21 am

Is this the same David Grant?

ThePost.ie
Architect ordered to pay €663,000 on repossessed house
31 January 2010 By Kieron Wood

An architect whose investment property was repossessed and sold after he missed mortgage payments is facing further payments of more than €663,000.

David Grant has been ordered by the High Court to repay ICS Building Society the remainder of a mortgage on the property even though it seized it back from him. Grant had appealed to the High Court, saying that the bank’s loan to him was ‘‘reckless’’ and its claim ‘‘unfair’’.

He asked why he should be asked to repay the full loan when the banks in general were being bailed out by the Irish taxpayer. In the court last week, High Court judge Peter Charleton said that Grant and ICS both seemed to have taken the same ‘‘overvalued view’’ about the value of the house and land near Newtownmountkennedy in Co Wicklow.

Grant paid €372,033 for the property in 2002, intending to build a housing estate. He borrowed €788,000 from the ICS in 2003 and a further €92,000 in 2004. The loans were secured by a mortgage on the property, which ICS valued at €1.1 million.

By 2007, Grant still owed €811,029. In December 2008, the building society repossessed the property, which was sold last September for €355,000. The Master of the High Court granted ICS judgment for e€1,007,103, less the sale proceeds.

Grant told the court he had a legitimate expectation that he would be able to develop the property so he could keep up his repayments and ultimately make a profit. When he borrowed the money from ICS, he considered his investment to be ‘‘sound, prudent and wise’’.

However, Charleton said that it wasn’t accurate to claim that a mortgage was effectively a promise that, in the event of default, the bank would simply sell off the property and write off the rest of the debt.

The judge said ICS had used a ‘‘serious auctioneer’’ who had secured ‘‘the best price reasonably to be obtained’’ in 2009.

He said the low selling price had ‘‘more to do with domestic lack of prudence’’ than Grant’s claim of a ‘‘major, economic and financial worldwide collapse’’.
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Re: Were You a victim of Grant?

Postby DOC » Mon Feb 01, 2010 8:04 am

Can only be!

I know Kieron Wood (the auther of that article). Must give him the lowdown on registration. Can't imagine Grant is an 'architect' any more!
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Re: Were You a victim of Grant?

Postby onq » Mon Feb 01, 2010 3:02 pm

I've already mailed a couple of links to the SBP questioning his identity and notified the RIAI.

Its precisely this kind of loose reporting that brings qualified architects into disrepute by association in the public eye.

There seems little point in making the rest of the prefession jumpt through hoops to become registered if they're not already members of the RIAI and letter papers of record publish errors like this.

Assuming that is indeed the case and its not some other David Grant - there is at least one whom I understand is a Fianna Fáil politician...

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Re: Were You a victim of Grant?

Postby SirRaymondMang » Thu Feb 04, 2010 2:29 pm

By Myles BUCHANAN

Wednesday February 03 2010

A WICKLOW architect has been ordered to pay a € 663,000 debt on his re-possessed house in Newtownmountkennedy.

David Grant has been ordered by the High Court to pay ICS Building Society the remainder of a mortgage on the Newtown property even though it seized it back from him.

Mr. Grant's investment property was already repossessed after he missed mortgage payments.

Mr. Grant had appealed to the High Court, claiming the bank's loan to him was 'reckless' and its claim 'unfair.' He also asked why he should be asked to repay the full loan when the banks were being bailed out by taxpayers' money.

High Court Judge, Peter Charleton, said both Mr. Grant and ICS had taken an 'overvalued view' over the value of the house and land.

Mr. Grant bought the property in 2002 for €372,033 with the intention of building a housing estate. In 2003 he secured a € 788,000 loan from ICS in 2003 and borrowed a further € 92,000 in 2004. The loans were secured through a mortgage on the property.

By 2007 € 811,029 was owed and in December of 2008 ICS repossess the property. It was sold last September for € 355,000. The Master of the High Court granted ICS judgement for € 1,007,103, less the sale proceeds.

Mr. Grant said he considered the investment to be ' sound, prudent and wise' when he borrowed the money.

He had a legitimate expectation that he would be able to develop the property so he could make his repayments and ultimately make a profit.

Judge Charleton, however, said it wasn't accurate to claim a mortgage was effectively a promise that, in the event of a default, the bank would simply sell off the property and write off the rest of the debt.

He added that ICS had used a 'serious auctioneer' who secured the 'best price reasonably to be obtained' in 2009.

He felt the low selling price had 'more to do with domestic lack of prudence' than Mr. Grant's claim of a 'major, economic and financial worldwide collapse.'

- Myles BUCHANAN


ONQ, looks like you'll have to e-mail the Independent as well!
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Re: Were You a victim of Grant?

Postby whoknows4sure » Tue Feb 15, 2011 4:43 am

David Grant is in Rio De Janiero. He lives on Rua Miguel Lemos, one block from Avenida Atlantica. His web site is http://brazilpropertunities.com/. His telephone number is 55-21-9360-8077. He has coloured his hair jet black and lost a stone plus many pounds. He frequents a pub named Balcony Bar.
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Re: Were You a victim of Grant?

Postby DOC » Thu Jun 23, 2011 6:25 am

From Sunday Business Post (19.06.11):

Developer and landlord David Grant will see his former home on Haddington Road in Ballsbridge, Dublin 4 go under the hammer for less than €400,000, a quarter of its original asking price, at the Allsop/Space auction of distressed properties next month.

Number 61 Haddington Road failed to sell at auction in 2006 with an advised minimum value of €1.6 million, but now it’s likely to be sold for about a quarter of the price next month.

The mid-terrace building is being auctioned ‘‘on the instructions of the mortgagee in possession’’ with a reserve not to exceed €395,000, according to the auction catalogue. Grant’s former home is situated on the south side of Haddington Road, just off Baggot Street.

The accommodation is arranged over lower ground, raised ground and first floors beneath a pitched roof. Internally it’s arranged as two-self contained residential units.

It is being sold with vacant possession. In October 2009, the Dublin County Registrar’s Court heard that Grant owed the Bank of Scotland (Ireland) an outstanding balance of just over €1.3 million on a house on Haddington Road, Ballsbridge. The bank was seeking possession of the property on foot of an unpaid mortgage.

Grant was the subject of an RTE Prime Time programme in 2007 that questioned his claim to be an architect. Afterwards he had set up business as Inspire Design in east London.

But in May 2009 he was charged and ordered by Stratford London magistrates court to pay a total of €6,000 in fines and costs for falsely listing himself as an architect in the telephone directory and on his company website.
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Re: Were You a victim of Grant?

Postby onq » Sat Jun 25, 2011 1:43 am

SirRaymondMang wrote:
By Myles BUCHANAN

Wednesday February 03 2010

A WICKLOW architect has been ordered to pay a € 663,000 debt on his re-possessed house in Newtownmountkennedy.

David Grant has been ordered by the High Court to pay ICS Building Society the remainder of a mortgage on the Newtown property even though it seized it back from him.

Mr. Grant's investment property was already repossessed after he missed mortgage payments.

Mr. Grant had appealed to the High Court, claiming the bank's loan to him was 'reckless' and its claim 'unfair.' He also asked why he should be asked to repay the full loan when the banks were being bailed out by taxpayers' money.

High Court Judge, Peter Charleton, said both Mr. Grant and ICS had taken an 'overvalued view' over the value of the house and land.

Mr. Grant bought the property in 2002 for €372,033 with the intention of building a housing estate. In 2003 he secured a € 788,000 loan from ICS in 2003 and borrowed a further € 92,000 in 2004. The loans were secured through a mortgage on the property.

By 2007 € 811,029 was owed and in December of 2008 ICS repossess the property. It was sold last September for € 355,000. The Master of the High Court granted ICS judgement for € 1,007,103, less the sale proceeds.

Mr. Grant said he considered the investment to be ' sound, prudent and wise' when he borrowed the money.

He had a legitimate expectation that he would be able to develop the property so he could make his repayments and ultimately make a profit.

Judge Charleton, however, said it wasn't accurate to claim a mortgage was effectively a promise that, in the event of a default, the bank would simply sell off the property and write off the rest of the debt.

He added that ICS had used a 'serious auctioneer' who secured the 'best price reasonably to be obtained' in 2009.

He felt the low selling price had 'more to do with domestic lack of prudence' than Mr. Grant's claim of a 'major, economic and financial worldwide collapse.'

- Myles BUCHANAN


ONQ, looks like you'll have to e-mail the Independent as well!


Sorry I missed this Sir Raymond.
I've given up doing other people's jobs for them.
I intend joining the RIAI and pressuring them to get their act together on things like this.

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Re: Were You a victim of Grant?

Postby onq » Sat Jun 25, 2011 2:18 am

whoknows4sure wrote:David Grant is in Rio De Janiero. He lives on Rua Miguel Lemos, one block from Avenida Atlantica. His web site is http://brazilpropertunities.com/. His telephone number is 55-21-9360-8077. He has coloured his hair jet black and lost a stone plus many pounds. He frequents a pub named Balcony Bar.


LOL!

How do you know all this stuff?

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Re: Were You a victim of Grant?

Postby Paul Clerkin » Wed Jun 13, 2012 5:10 pm

Just got an email from another victim suggesting that he is back in the UK

Residing at Countryside Hotel, 207 Romford Road, E7 9HL - now the Travel Inn
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