Braintree District Council is advising people to exercise caution before buying land through internet "landbanking" schemes. These schemes offer plots of land for sale with promises of huge profits for buyers when the land gets planning permission for development, but there is no realistic prospect of permission being granted for development.

A BBC "Inside Out" investigation found that the websites often provide inaccurate and misleading information about the local area and the likelihood of the land being developed, investors are convinced into paying over the odds for sites that have little or no development potential, paying very high prices for land of little value.

The FSA has a consumer helpline for guidance on this subject, telephone 0845 6061234.

Land at Oxford Lane, Sible Hedingham
The Council is aware of a landbanking scheme that was promoted in respect of Land at Oxford Lane, Sible Hedingham.  The land appears to have been sold divided into small plots.  The site is beyond the development boundary in the adopted Review Local Plan, and there is no realistic prospect of permission being granted for development of this site in the foreseeable future.

Hanbrook and Greenstock, who promoted the plots for sale scheme, was ordered into liquidation on grounds of public interest in the High Court on 28 November 2007 following enquiries carried out by the Companies Investigation Branch of the insolvency service.

Updated 6/10/2011