I signed up with Flyp after being shown a financial model that projected strong rental yield and a sale valuation of over £1.3 million—figures presented as realistic and “conservative.” Within a month, the projected valuation dropped by £100,000, and actual rental income came in at less than 50% of their projections.Despite assurances that I would receive monthly income from rental profits, I received nothing. All proceeds were directed toward Flyp’s renovation balance, completely contradicting the income-sharing structure I was shown in their model.I had also made it explicitly clear that the flat should be configured as a two-bedroom to optimise returns. Their designer ignored this and delivered a one-bedroom plus office, with no commercial justification—resulting in reduced rental performance.Most concerning was the suggestion to proceed with short-letting (Airbnb-style) despite building restrictions. When I raised this, I was told we could “be tactful” and only change approach if building management noticed—placing me at legal and leasehold risk without my consent.I will now have to escalated the matter to the Property Redress Scheme. I regret trusting the process and would urge others to demand written guarantees and seek independent legal and financial advice before signing anything.-
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