CONSUMER MINISTER WARNS PUBLIC ABOUT THIS YEAR'S FAVOURITE SCAMS

Current scams that are catching out consumers include companies that are:

• running "get rich quick" property schemes;
• advertising "buy to let" properties in poor condition and make claims about unrealistic rental returns;
• advertising individual plots of agricultural land in areas where there is virtually no development potential;
• selling advertising space in a range of publications, claiming that part of the money raised will go to good causes;
• offering the chance to make a profit from buying up debts;
• charging for unsolicited office consumables; and
• targeting the compensation packages of retired or redundant staff.

Agricultural land

The company buys up farmland and subdivides it into plots suitable for reasonable size houses. These plots are then sold to investors at many times the purchase price without planning consent. The company never says planning consent will be granted but issues copies of press releases and quotes that give the impression the Government is about to change its policy. It also draws up plans, like housing estates with proposed access roads etc, and agrees to make applications for planning consent. The land is also sold through independent agents over which the company has no control.

The downside is that people end up paying thousands for agricultural land with a value of a few hundred, which is then abandoned and becomes neglected.

(Extract from the full article at www.gnn.gov.uk)

(emphasis has been added)