Are my Security for Expenses deposits safe?

Safeguarded

All party wall security is held safeguarded at the Bank of England - what does this mean? We open a bank account especially for you - a separate bank account with separate bank details for every single party wall award - and that account doesn't sit on any bank's balance sheet and doesn't get loaned out to anyone else. It will simply sit there waiting to be returned to you once the works are complete.

Segregated

Because we open a separate bank account for every party wall award, your money is in your account at all times - it's not mixed with anyone else's money, and it's not mixed with ours.

Liquid and Unencumbered

Unlike 'normal' bank accounts where you make a deposit and the bank then loans your money out to others (so you technically take a credit risk on the bank each time you give them your money), our accounts work a little differently. Your money simply sits there, liquid (eg, ready to be taken back out) and unencumbered (not loaned out to anyone else).