SEVEN apartments owned by British families were sold at auction this week for as little as £12,500, Voices can reveal.

Voices has learned that the apartments at the Peyda Aqua complex, close to the Esra Hotel, near Third Beach, were put up for auction in Didim by major creditor ING Bank on Monday (Oct 12).

But in a twist no-one saw coming, sources have told Voices that ING opted to buy them back for between 30,000 TL (£12,500) and 33,500 TL (£13,500).

This is effectively protecting their own investment in the hope they can sell them on for a bigger profit in the future and narrow out any outstanding debts on the apartments.

The apartments came up for auction after defaults were made on debts run up on the title deeds which had been put up as collateral.

One couple Rachel and Julian Davies, (51) who live near Newport, had originally bought a two-bed apartment for about £22,000 three years ago only for it to be one of the seven to be auctioned off for about £13,000.

They discovered that there was a 105,000 TL in loans against their apartment’s title deeds.

This week, Mrs Davies, reacting to the auction, told Voices: “I am absolutely gutted that it has been sold off from under my feet. I have shed a tear and gone through the anger and despair. I, along with others, am considering what to do next.

“In the end it was a fait accompli, it was just a matter of watching and waiting until the inevitable happened.”

Upwards of 19 families, including police officers, an architect, a psychiatric nurse and a regional bank manager, are feared to have been affected by those who ran up debts on the properties.

The families, all from Bridgend, Cardiff and Maesteg, in South Wales, had bought the apartments via Bridgend-based independent financial advisor Neil Dyke and Turkish businessman Hakan Gülbeyaz.

In separate moves, ten owners on Peyda Aqua, represented by lawyer Ali Aktimur, have opened a court case in Didim against the site management over a number of issues relating to the site.