** 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 as set out above.

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 closed for new applications on 31 December 2024 and it is now not possible for any new claim to be submitted.

5) The CLC has begun the process of review and assessment of claims it has received, and this will continue through 2025. The earliest determinations are not expected until Summer 2025.

6) The CLC is unable to respond to individual applicants during this time and will post generic updates when further information is available.

Last updated 6 February 2025