Current scams that are in vogue in UK include companies that are:
• Persuading the investors to invest in fraudulent schemes;
• advertising “buy to let” properties in poor condition and make claims about unrealistic rental returns;
• offering the chance to make a profit from buying up debts;
• Targeting the low salaried people about to retire.
Apart from the above there are quite a few practices that are wrongly termed as scams. One such business is the land investment business. These companies persuade the investors to buy greenbelt land in anticipation of the huge profit they are expected to rake in the future. UK has already heard of Kent Land Scams, Sussex Land Scams & primarily London Land Scams but can this be termed as a scam?
Who are the scamsters?
Land banking companies? Definitely not as they are using the statistics and facts published by the Government and the other research organizations such as the RICS as a basis of the promise that they give to the investors. So then who are the scamsters? It is the rumor spreaders who are the actual scamsters. There has never been an instance in the history that an investor is victimized by a land banking firm. The Government never considers the business as fraudulent one. Then why is it that a small group of people, with half baked knowledge on the demographic conditions of UK, being allowed to spread wrong information to the customers. This actually leads to a question as who are the victims. The victims actually are not the investors but the companies which are into the business of selling land and property to the prospective investors. The investors should be aware of the fact and should take very calculated and informed step before believing the people who are the actual scamsters and they should take a prudent decision as to what should be done with their hard earned money.