Review protections for investors in off-plan and unregulated property schemes — 31 signatures. Status: open.
Launch a review into protections for UK-based and overseas investors in off-plan and unregulated property schemes, including protection of deposits, use of investor funds, solicitor duties, developer corporate structures, regulatory oversight and representation of overseas investors.
Investors can pay substantial deposits into UK property developments yet find that funds are not ring-fenced, may move between related companies, and normal financial protections may not apply. When projects fail, investors can become unsecured creditors despite having regulated legal advisers. Developers may operate through multiple SPVs while the wider business continues raising investment. Many overseas investors also have no Member of Parliament to represent them. We believe these gaps require urgent review.
View this petition on the official UK Parliament website