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Investments in self-storage units, also known as ‘storage pods’, have been in the news recently as they are one of the latest types of mis-sold investment scheme to come to the attention of the Serious Fraud Office (SFO). Investors are offered the opportunity to purchase a long-term lease on a storage unit which the self-storage company then rents it out to customers. These investments are proving unreliable and people are losing a fortune on them.
Promises of a ‘guaranteed income’ were made to unwitting investors whilst storage pods lay unoccupied meaning very little profit being generated. This has left countless clients without the income they were promised. To add insult to injury, clients have still been charged management fees to the storage companies. The 2017 SFO investigation discovered over £120 million had been invested in self-storage units. As a result, thousands of people have lost huge sums of money.
If you experienced or were offered any of the following you were mis-sold storage and should get in touch with one of our solicitors right away:
- Pressure Selling
- Unsuitable Scheme
- Misleading information
- Unexplained Fees
- Unexplained Risks
- Promise of high returns that never materialised/
- An unregulated investment
- Lost Investment due to any of the above issues