People who are affected by the UK Land Investment SCAM!! Please post here....

[Meem.uk]

Hi All

As you know, UK Land Investment (a very well known company) has scamed ALOT of people all over the world and I'm one of those. I had 3 plots in total with them and now they all gone.

I'm trying to get as many people as I can (who have been scammed by UK Land Investment) and together I'm sure we can do some sort of legal action against them.

I really don't get it, I mean one of the Directors Baljinder Chohan (of UKLI) was involved in a scam before then why was he allowed to direct again? He ended up scaming again. Also, if anyone knows anything about any of the three directors of UK Land Investment, please do let me know. That will really help.

Also if anyone knows what happened on the court hearing on 26th May 2008....

Thank you

Much Appreciated

Shahid

 

[Trader333]

In what way were you scammed ?


Paul

 

[roni2k]

How can a land banking company be scamming people, after all the people get full freehold title & really do own the land?

 

[Trader333]

It is the hard pushed message that the land they are buying will one day get planning permission which it never will.


Paul

 

[anley]

Maybe the scam was is the 'misleading' brochures and letters etc.

 

[DT]

People are still falling for this stuff???

I remember someone posted a job ad on here trying to recruit people for this sort of thing:

http://www.trade2win.com/boards/looking-hire/23097-land-brokers-req-d-same-training-stockbroker.html

Anyway I hope none of you lost too much, should serve as a good lesson that is isn't a very good idea to simply hand over thousands of pounds to people on the phone. Whether its an AIM cash shell, some vintage wine, a time share or a strip of land you're very likely to be getting spanked.

 

[roni2k]

bought a piece of land theu UKLI in Severn Beach Bristol, I even visited the site & its smack in the middle of existing developmet. I dont see how this site wil never be REQUIRED & AQUIRED for resiential development use, the influx of people into the UK is puting house prices & availability at an all time high. even councils admit that they are short of their housing targts & need more land. I done quite a lot of research & am astounded that UKLI has gone into administration but if you visit their website the administrators are confident that the land owners will not lose out.:cheesy:

 

[Trader333]

I dont see how this site wil never be REQUIRED & AQUIRED for resiential development use,

Why did you buy it then ?


Paul

 

[jiggly]

far fetched

historically speaking, land prices have always increased in value anyway, so if you purchased the land on the sole pretences that you will get planning permission, then you are either a fool or you have been mislead, because nothing is gauranteed in the investment world, only risk. so all is not lost if the planning permission does not come through, you should still accrue annual capital growth for the entire time you own the land.

secondly, if it is in an area of high housing need, then there may be a good probability that planning permission may be granted, look at it from this perspective, towns and cities always start small and grow outwards from their centre, obviously the closer you are to the centre the higher the value of the land. so given enough time as towns a cities expand through the general economics and requirements of the region immigration, a rising population (unarguable) you may (unlikely tomorrow) at some time in the future be in a development path which you will need to be compensated for to move.

DO YOU HAVE THE TITLE DEEDS?? because to go as far as to say that this is a scam shows your lack of understanding of what you have purchased, so in my opinion you should not have purchased it in the first place...

 

[anley]

bought a piece of land theu UKLI in Severn Beach Bristol, I even visited the site & its smack in the middle of existing developmet. I dont see how this site wil never be REQUIRED & AQUIRED for resiential development use, the influx of people into the UK is puting house prices & availability at an all time high. even councils admit that they are short of their housing targts & need more land. I done quite a lot of research & am astounded that UKLI has gone into administration but if you visit their website the administrators are confident that the land owners will not lose out.:cheesy:

No, they most probably won't lose out if you take a 50 year view.

The problem that every person who bought a plot has is how are all of the plot owners as a collective going to promote the site to the planners? And then what happens if one person, or a few people don't want to sell? The permatations are enormous.

Overall getting planning permission is not easy and costs a lot of money in investment.

For example, my cousin has a suberb plot of land near Stansted airport and he's had to employ Savills and an independent planning consultant alongside paying for all sorts of reviews, traffic, sewage etc etc. The list goes on and on. He reckons that 10% of the actual sale cost (if it actually gets planning permission) will go on fees. Also, this has been going on for over 5 years now.

Sorry to be the bearer of bad news but all the people who've bought this land think that all they have to do is sit back and then a letter will arrive one day saying 'planning permission has been granted'.

Invest as a collective, both time and money and you might have a shot, sit back and do nothing and all you've bought is a very expensive piece of a grass field...........

 

[roni2k]

I dont think it is a scam, all the other scaremongers think it is; Paul you may have misunderstood my initial input, I bought it after seeing the area & reckon it stands a very good chance of being allocated into the local framework of that area., I do have full freehold title & wimpey have a 15% profit share once planning permission has been granted.as it was a Wimpey site previously.(In their bank of sites)
I am pleased to hold onto the land for as long as it takes & my children will benefit in the long term. Investments are at such a perilous high at the moment, property colapse pensions, Shares etc, All doing dany I feel land is a good investment, God aint making any more of it.

 

[roni2k]

No, they most probably won't lose out if you take a 50 year view.

The problem that every person who bought a plot has is how are all of the plot owners as a collective going to promote the site to the planners? And then what happens if one person, or a few people don't want to sell? The permatations are enormous.

Overall getting planning permission is not easy and costs a lot of money in investment.

For example, my cousin has a suberb plot of land near Stansted airport and he's had to employ Savills and an independent planning consultant alongside paying for all sorts of reviews, traffic, sewage etc etc. The list goes on and on. He reckons that 10% of the actual sale cost (if it actually gets planning permission) will go on fees. Also, this has been going on for over 5 years now.

Sorry to be the bearer of bad news but all the people who've bought this land think that all they have to do is sit back and then a letter will arrive one day saying 'planning permission has been granted'.

Invest as a collective, both time and money and you might have a shot, sit back and do nothing and all you've bought is a very expensive piece of a grass field...........

Thats the problem though Anley, The FSA will not allow collective investmens in any form, they deem them illegal & hence the closure of the company.
Land in amongst existing development will be allocated at some point especially in the London area. I bought a derelict piece of land in 1984 and it was used as a car park by the council for around 4 years FREE of charge, this gave the land a change of status I then apllied for planning to build 3 houses and was given 2, the other portion of the land was given to the council as a section 106 (bargaining tool used frequently by developers) i have made money in the past & tis is the first time I have used a company rather than approach individals. Saches on land are easily obtained from councils and show if there is any contamination etc and dont coist a fortune, Banking on the site or plot getting allocated (into the councils framework) which indicates they may use it for esidential development would dramatically increas its value.

 

[jiggly]

the quality and location of the site is the most important factors, (i.e is the land sustainable, are there any local amenities, transport links?, existing infrastructure??) along with the regional development agency strategy and other history of planning applications near the site.

some people cant make a simpler decision to buy a sound used car and were talking in simple terms about sound land investment!!!!!!!

a sound land investment is a very rare thing, you should expect to pay a premium for it if one does come along for sale, because the chances of it generating high returns are good.

if you dont have the title deeds then you dont have anything, (no log book, you dont own the car!!), simple really. land banking is not a scam but there are some grey areas which can be cleared up with the proper due-diligence.

in my opinion, these certainly are the things i would consider if I ever was in a position to buy land...

 

[Trader333]

Have you not done any homework before investing this much money in these plots. You should have gained a thorough background of where your money was going to then you wouldn't be int his situation.

It is quite remarkable how often people do not do this, then pile a lot of money into something and then wonder why they came out with a huge loss.


Paul

 

[Janice]

UK Land Investment SCAM!!!

I was under the impression that you receive your title deeds and gain complete ownership of your plots that you've purchased and paid up completely making you sole owner. What do you mean when you say they are all gone? Did this plots also go under administration?

Have you not done any homework before investing this much money in these plots. You should have gained a thorough background of where your money was going to then you wouldn't be int his situation.

This is my advise tot he public. Why waste other people's time when you could have prevented yourself from being in this situation by covering all corners and loose ends before investing your finance. That's what I would have done.

Hi All

As you know, UK Land Investment (a very well known company) has scamed ALOT of people all over the world and I'm one of those. I had 3 plots in total with them and now they all gone.

I'm trying to get as many people as I can (who have been scammed by UK Land Investment) and together I'm sure we can do some sort of legal action against them.

I really don't get it, I mean one of the Directors Baljinder Chohan (of UKLI) was involved in a scam before then why was he allowed to direct again? He ended up scaming again. Also, if anyone knows anything about any of the three directors of UK Land Investment, please do let me know. That will really help.

Also if anyone knows what happened on the court hearing on 26th May 2008....

Thank you

Much Appreciated

Shahid

 

[Janice]

Yeah Paul

Its pretty amazing how negligent people can be and then they try to file lawsuits later when they realize that they have been foolish and someone needs to take the rap for it.

I pity this guy Baljinder Chohan. He seems to have become a target for foolish investors who do not seek clarification on their investments beforehand. Scam artist don't show their face in the business they work from behind the scenes to protect their identity. Isn't that so? This company UK land has a reputation behind a face so how do people link this to a scam. Isn't title deeds issued for these plots sold coming from the Government so how can it be a scam??????????????

regards,

Janice

 

[shadowninja]

It is bad that people do not do their own research but at the same time, it's bad that the business takes such people's money. It is akin to a guy plying a girl with alcohol in a club before taking her back to his place for a one night stand. She knows what she's doing when she continues to drink but at the same time doesn't stop. Who's fault is it in the end?

 

[roni2k]

Shahid I think you should know whats going on if you bought land though UKLI I have been uodated by post recently, but maybe you could lok at recent update to investors on
www.UKLandinvestmentgroup.com
I reckon Baljinder Chohan has been made a scapegoat by the FSA who are masters at their own wrong doing,(Mortgages mis sold, pensions mis sold, credit crunch, etc etc) I bought land through UKLI and am happy to keep the plots long term for returns, if this does not happen I will sell the plots on, I DO have full freehold title and did research and i am entirely happy with the sites i chose, as far as the court case against UKLI s concerned the company has been wound up by the FSA for operating a collective investment scheme. There will be a meeing of creditoers on the 25th June and all will be told then. I am in the process of looking at off plan property in the much saught after area of Ajman near Dubai. anyone able to offer their ideas or opinions, Much appreciated. The UK aint worth investing in, its too naughty at present.

 

[jiggly]

is land banking a scam? - so where is the legislation?

i agree with a few of the most recent post here, a scam implies that you have paid money for something which you have not recieved, which if you did get the official title deeds then you were only scammed if you bought land which can never get planning permission, (i.e in an area of natural beauty, or agricultural land that is not sustainable etc..). in other words mis representation of sale..

otherwise you have paid a high price for something which has little probability of generating a profit, (might i just add that this is very reminiscent of the stock market to an newbie, when i was learning to trade and still to this day, in some cases I end up paying top price in a turning market )

the uk land registry is the governing body of all land and property ownership in the UK, and land banking has been a growing industry of late......do you not think that sites being sold off as smaller parcels would raise some suspicion by them and make the practice illegal?????????? after all they issue you with a title deed. do you think that individual plot owners could not apply for and get planning permission just because they own a small plot in a larger site....there is NO, to the best of my knowledge, any legislation which states contrary and anything else stated by anyone elee is in my opinion, nothing more than an emotionally driven, highly opinionated remark...... they probably have good reason, but again, in my opinion they were either scammed themselves or they are some kind of activist....

 

[DT]

i agree with a few of the most recent post here, a scam implies that you have paid money for something which you have not recieved,

if you paid over the odds for a spanish time share in the 90s or invested in some dodgy AIM company you'd still have 'something'. It doesn't take away from the fact its complete spank & you'll have been ripped off.