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Is there not a difference between BLM reporting that 'it had seen more than 400 potential claims' and the number of claims that are tenable? It would be far more interesting to know how many such claims have been admitted and settled and how many have been rejected. But could it be that this would have reduced a 'sensational' press release to the merely mundane?

I have no doubt the CMCs are farming these claims, particularly as the media recently has picked up on the issue - and is more than happy to point the finger at 'fat cat' professionals, property developers and institutional investors and to absolve the purchasers from blame. After all, something has got to be found as a replacement for PPI!

Equally I think it probable that these self same CMCs are intimating claims to the solicitors who acted for the purchaser on the basis of the claimant's assertion that 'nobody told me what I was getting into' and without knowing (or bothering to ascertain) whether or not the solicitor gave appropriate advice before exchange of contracts.

When such people find that have an unsaleable property, it's remarkable how quickly selective amnesia sets in! They forget how they were seduced into buying because the price was so attractive. They forget the advice they were given which indicated that it could become a millstone around their necks. They forget how blind they became in their quest for their 'dream property'. There are none so deaf as those who don't want to hear. And when there is a 'told you so' outcome, then they want someone to blame and to extract them out of their predicament into which they blithely marched. It was ever thus.