Tuesday, June 10, 2008

UK Land Banking Scams

For those of you who have ever considered one of those 'small investments' in UK land which is being presented as land with the potential for 'rezoning' then you may well need to have a read of the following and the Guardian's piece here.

This particular area of the property market is fraught with danger, particularly for those with no knowledge of the UK property market and the ins and outs of the planning process across the UK. In the main the UK is very slow to rezone green belt land, so be very careful about what you're buying, no matter how inexpensive it may seem. That is, of course, unless you are happy to lose your 'investment'. 

If you visit the UK Land Investments site all you'll find is a letter from the administrators. This liquidation of companies is a typical ploy by land bankers, which usually just pop up again a couple of months later with a different name. Although on this occasion they may have been helped along the way by the UK's Financial Services Authority (FSA).

There are a few operatives outside the UK which also look pretty dodgy but nothing concrete has been proven against them yet so we'll refrain from mentioning them until there is proof that we should do so. 

The FSA has released the following statement for those considering investing in Land Banking schemes.

Read an advisory article about Land Banking on the OverseasCafe.com site. 


UK Property Links

For a selection of property in the UK click here.

For a list of agents selling property in the UK click here.

For independent articles on overseas property click here.

For advice on purchasing in the UK click here.

For news on the UK property market click here.

For new releases and product updates from UK agents click here.

For a selection of property exhibitions featuring UK property click here.

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