Companies who operate these investment schemes but large pieces of land close to existing towns or villages, divide it up into smaller parcels - often based on plausible looking housing layouts - and then sell it on to unsuspecting investors based on hints or promises that the value will soar once planning permission is granted. The twist, however, is that these sites are often unlikely to secure planning permission - whether designated as green belt, falling in an area of flood risk, or even being protected as a nature reserve or Site of Special Scientific Interest.
The image at the top of this post shows one such site. Divided into several small parcels with what purports to be an access road linking them together, the site is detached from the nearest village. It also falls within an Area of Outstanding Natural Beauty, is designated as a Site of Special Scientific Interest and the trees on site are covered by a Tree Protection Order. There is little chance of it securing permission for new homes.
Our managing director, Paul Smith, spoke to BBC Radio 4's consumer affairs programme, You and Yours, about these schemes and how you can avoid getting caught.
