Inside Track

The company advertised in newspapers, on radio and TV and through mailshots, inviting customers to attend a free property investment session.

The company offered free seminars that claimed to give insights into property investment, with a view to getting attendees to a paid two-day course.

With house price growth mostly over 10% each year continuing until 2007, some of Inside Track's 25,000 customers did not make money as the company was over inflating valuations and most customers ended up losing money, many of the developments were not finished, it was rapidly found that the system used relied on a constantly rising market and very lax mortgage lending and the company went into administration in April 2008.

The company grew quickly, spending heavily on marketing and direct mail, and making to year end April 30, 2006, profits of £10.9m on turnover of £44.8m.

A former director of Chestertons estate agents, Anthony McKay was hired to manage the day-to-day affairs of the business, along with 'consumer champion' Louisa Fletcher (News of the World & ITN).