** Important Notice – Closure of Compensation Fund Pool relating to ‘Investment Property Transactions’ **

If you were a client of a CLC regulated practice who acted for you in an investment property transaction such as the purchase of hotel rooms and student accommodation units in developments that did not complete (‘Investment Property Transactions’) and have incurred a direct loss as a result,

PLEASE NOTE THE FOLLOWING:

1) The Council for Licensed Conveyancers (the CLC) operates a discretionary fund which may alleviate direct losses in certain circumstances. Full details are available here.

2) The CLC has created a ring fenced pool for in all claims received relating to Investment Property Transactions

3) Any applications to the compensation fund relating to this type of claim will be reviewed and determined, on their individual merits, but collectively as a distinct pool.

4) The pool will be closed for new applications on 31 December 2024. 

5) Review, assessment and determination of claims will begin in 2025.

If you think you may have been affected by a speculative investment property transaction, you must submit your application to the Compensation Fund by 31 December 2024. An application form can be requested by email to compensationfund@clc-uk.org or by phone on 020 3859 0904.

Please note, if you are unsure if your claim fits into this category, we advise you contact us without delay.