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Equfund
rosalinds
Posts: 2 Newbie
Has anyone invested in the Reap scheme with Equfund. It is tempting as the return is 7% & the money goes towards housing at affordable rents. However I am nervous as they aren't covered by the FSA, but your money is supposedly used to buy proper (75% of value) and there will be a charge at Land registry.
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However I am nervous as they aren't covered by the FSA
The Food Standards Agency dont get involved with investments
It appears that this is an unregulated investment scheme. So, it does not have to follow the requirements laid out by the FCA. It also means you have no access to the FOS and you get no FSCS protection (although on regulated conventional mainstream investments that is a low priority as they rarely go bump in a way that would lead to compensation).
The 7% is not guaranteed and you have 100% loss potential.
So, pretty much like all unregulated investments, you should treat it as high risk and specialist and only invest money you can afford to lose fully and limit it to a small port of your overall investment portfolio.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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