Money Observer does its best to ensure that all advertisements that appear in the magazine, or those that are inserted, are placed by reputable organisations.

It has been brought to our attention that consumers should view the loose insert from European Land Sales (ELS) with a healthy dose of scepticism. The insert invites you to enter a free prize draw to win a freehold plot of land. It is likely that respondents will be contacted by sales people from ELS who are attempting to sell plots of agricultural land that may or may not receive planning permission for change of use at some point in the future.

A public warning notice regarding the sales tactics of European Land Sales (Australia) has been issued by the director of consumer affairs in Victoria, Australia. Unfortunately there are no rules in the UK governing promotional literature for real estate schemes because this sector is not regulated by the Financial Services Authority.

Schemes such as this are highly speculative and should be viewed with caution. In general any financial promotion that claims extraordinary financial gains in the past or promises them in the future should also be viewed in the same light.