Student halls. Many of us have memories there, but what about investing in them?
Lomax Student Halls Investments, available to be invested in via a SIPP pension gave people the chance to do just that, and offered some very attractive returns in the process for the Stoke-based halls.
But Lomax student accommodation was always high-risk, not regulated by the FCA, leaving investors with no immediate protection from the FSCS, nor the Financial Ombudsman.
In 2016, Lomax seemed to experience difficulties, with some investors reporting missed coupon payments on their loan notes…
As a high-risk SIPP investment, Lomax Student Halls weren’t suitable for every investor and we now know that many SIPP investors were mis-sold, leading to a flurry of mis-sold pension claims by those who caught on.
If you invested in Lomax, you may still be able to make a claim. Find out with a FREE initial assessment with Spencer Churchill Claims Advice.Get started now
Several financial advisers and the FSCS have been paying out compensation for the mis-selling of Lomax Student Halls investments via SIPPs for a few years, with Spencer Churchill Claims Advice often leading the claim on a No Win – No Fee* basis.
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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The story of Lomax Student Halls has been ongoing for some time, but several years ago the FSCS started valuing the investment at £zero, meaning they felt the investment had lost all of its value.
Obviously not what investors will want to hear, but it could mean that a claim could be made if you were mis-sold Lomax by a regulated financial adviser.