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Yes, Homegrown Group Limited is directly authorised and regulated by the Financial Conduct Authority (FRN: 694952).
We have partnered with Global Custodial Services Limited (“GCS”), a leading provider of custodian services who are authorised and regulated by the FCA (no. 595875), to ensure that all monies deposited into a Homegrown account/e-wallet are held on trust in a segregated custodian account with Santander, separate from any funds of GCS or Homegrown, in accordance with FCA client money and asset rules.
Funds remain in the same segregated custodian account with Santander during a investment funding round before they are transferred to a solicitors’ segregated client account, where the project is successful. The balance of any funds after the acquisition of a project are transferred to the relevant bank account of the SPV.
There are risks associated with investing in property and private limited companies and we encourage all members to read our full risk warning before making an investment through Homegrown.
Please feel free to contact us if you have any questions about the risks associated with investing with Homegrown.
Whilst a liquidation of Homegrown Group Limited is extremely unlikely it is important to remember that all investments are owned by you the investors and held in an individual SPV which is ring-fenced from Homegrown. Therefore, in a scenario where Homegrown went into liquidation you would continue to own the SPV and the Board of Directors would continue to be responsible for the management of the company.
In addition, all funds held in a Homegrown account/e-wallet are held on trust in a segregated custodian account operated by Global Custodial Services Limited (“GCS”) and in a scenario where Homegrown went into liquidation you would continue to legally own these funds.