Michelle Thomson: I want an apology from Nicola Sturgeon

Ms Thomson revealed she was not contacted by the party after the Crown Office announced she would not face charges, and criticised the SNP leadership for not allowing her to defend herself to the party's executive.

Michelle Thomson: Former MP claims that SNP panicked when allegations against her appeared in the media in 2015. Picture: Greg Macvean

The SNP said it is ready to discuss reinstating Ms Thomson’s party membership, which was suspended when she resigned the party whip in September 2015.

Last week prosecutors said Ms Thomson would not be charged over alleged mortgage fraud due to an “absence of sufficient credible and reliable evidence” following a 15-month police investigation.

The investigation centred on property transactions in which homes were bought at reduced prices and quickly sold on at a higher value in what are called “back to back” mortgage deals. A solicitor involved in 13 transactions linked to Ms Thomson’s company, Christopher Hales, was struck off for professional misconduct.

Homeowners who sold their properties to M&F Property, the company she ran with business partner Frank Gilbride, have expressed disappointment at the decision not to charge the former MP.

Christine and Billy Troy sold their one-bedroom flat in Paisley to M&F Property for £37,500, before it was sold on for £55,000.

“I’m not happy about the whole thing,” Mrs Troy told the Sunday Mail. “I feel she preyed on vulnerable people. We were having trouble selling – that’s why we sold to them. I wish now we hadn’t.

“I believe she should have had some form of consequence... It sticks in my throat to this day.”

The 62 year-old added that the couple had thrown away paperwork relating to the sale shortly before being contacted by police investigating the case.

Despite appeals from the SNP group at Westminster, Ms Thomson was not readmitted to the party ahead of the general election in June. She claimed the SNP leadership “panicked” when the allegations first appeared in the media in 2015., and said she was told to resign the party whip by party business convener, Derek Mackay.

“I would have preferred to have been given the opportunity to put my side of the case,” she said. Asked who she felt owed her an apology over the affair, Ms Thomson told the BBC: “I would say the leader of the party.”

A spokesman for the Scottish Conservatives said the comments were a “further example of the chaos within the SNP”.

An SNP spokesman said the party was “happy to engage with her about her membership” following the conclusion of the investigation.