London House Exchange

London House Exchange Limited (formerly trading as Property Partner) is a UK firm directly authorised by the FCA under FRN 613499. It operates a platform for fractional investment in UK residential property — equity (shares in single-property SPVs) and historically property-backed debt (mortgage bonds and development loans), some marketed as IFISA-eligible.

The official live site is londonhouseexchange.com. The legacy short domain lhx.co.uk currently displays a "domain for sale" page, which has caused public confusion about the firm's status; regulatory records and the firm's own help centre confirm the platform continues to operate.

So what? FCA authorisation provides a conduct framework but is not equivalent to FSCS protection. Capital and income from fractional property and property-debt products are at risk.

Each property is held in its own Special Purpose Vehicle (SPV); investors buy shares in the SPV through the platform and receive a proportional share of net rental income (paid as dividends) plus any capital gain on exit. Debt investors received interest from mortgage bonds or development loans.

The firm operates a regulated multilateral trading facility (MTF) intended to allow investors to buy and sell shares in listed properties. Pricing is market-driven via buyer/seller activity and can diverge — sometimes materially — from the most recent independent property valuation, particularly in stressed or thinly-traded conditions.

So what? The MTF is a liquidity mechanism, not a guarantee of exit at NAV. Multiple investor complaints — including FOS case DRN-2359226 — document persistent illiquidity and unfavourable exit pricing following the introduction of an AUM fee.

Products: equity shares in individual residential-property SPVs; property-backed debt instruments (mortgage bonds, development loans), with some IFISA-eligible debt historically available; investment plans and a premium service tier.

Minimums (firm-stated): shares from £1; debt and investment plans from £1,000.

Fees (firm-stated, verify directly): historic transaction fee of 1% on listed property purchases and 2% on development-loan investments; an AUM fee of c.0.7% p.a. + VAT on equity holdings; plus sourcing fees on new listings. Exchange transactions also carry buyer/seller fees per the firm's help centre.

AUM: the firm has cited c.£120m AUM and £10m+ in cumulative dividends; these figures are not independently verifiable in current public filings.

So what? The combination of an ongoing AUM fee and exchange transaction fees compounds against net returns — particularly where secondary-market prices sit below valuation.

Aimed at UK retail investors who want fractional exposure to residential property without buying whole assets, and at savers who historically used the IFISA wrapper for property-backed debt. Certain debt offers were restricted to High Net Worth or Sophisticated Investors under FCA rules.

Suitable only for investors who can tolerate illiquidity, valuation/exchange-price divergence and platform dependency. Investments are not FSCS-protected for capital loss or missed income.

So what? Confirm which investor category an offer is restricted to, and read the latest investor terms before subscribing.

• Domain inconsistency — confirm you are using the live londonhouseexchange.com portal; the legacy lhx.co.uk domain is marketed as for sale.

• FCA Register notices — check FRN 613499 for current requirements/restrictions before transacting.

• FOS history — at least two published decisions; review them for relevance to your holdings.

• Secondary-market liquidity — exits are not guaranteed at or near valuation, particularly in stressed conditions.

• Unverified headline figures — AUM, payout and performance numbers cited by the firm lack independent corroboration in the supplied research.