Harlequin Property hits problems with payments

Laura Miller
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Harlequin Property, a UK-based overseas property sales agent that is not regulated by the Financial Services Authority (FSA), is having problems issuing payments due under the terms of its agreement.

One investor, who did not want to be named, contacted Harlequin earlier this month after the company failed to pay the interest on a loan the investor had taken out in order to invest in a Harlequin property. Under the terms of its agreement, Harlequin pays the interest on borrowings where the investor has re-mortgaged their home to invest in a Harlequin property in the Caribbean. The interest is paid until the completion of the off-plan property the investor has invested in. Harlequin said it successfully makes payments to investors, but that delays do occur occasionally. Howev...

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