Financial Services Authority Sell & Rent Back Regulation

Rotherham, United Kingdom (PressExposure) December 05, 2009 -- Compare Property Buyers have now been regulated by the Financial Services Authority to offer advice on UK Sell and Rent Back Schemes. Compare Property Buyers are completely independent and operate a treating customers fairly policy to insure fair play for users of Sell & Rent Back schemes.

Since the start of the credit crunch in late 2007 there have been a growing number of private investors and investment companies offering to buy property and then rent it back to the original owners, this sector has now grown into what has become known as the “Sell and Rent Back” Industry.

Although most investors operate in an ethical manner there were some concerns shown by various groups to protect the interest of the consumers involved, and so after a brief consultation period the Financial Services Authority released details of the Regulatory Framework

for the Industry.

The main aim The Financial Services Authority in Regulating the Industry was to protect the interest of vulnerable consumers who, due usually to financial problems exacerbated by the credit crunch, were sometimes seen to be selling their homes on unfavourable terms.

From August 2009 any company wishing to work in the Sell and Rent Back sector must be authorised by the Financial Services Authority. Initially from August 2009 until Late 2010 there will be what is known as “interim” regulation and full regulation will begin around the third quarter of 2010.

Regulated companies must prove to the Financial Services Authority that they can operate to very high standards. Companies must be financially sound and able to meet the commitments of any Sell and Rent Back agreements they enter into and Financial, Background and Criminal records checks are carried out on Owners and Directors to protect the interests of consumers.

All sell and Rent Back agreements must now also be clearly documented in writing including the terms and length of the tenancy agreement. Under the new regulations companies must also have a treating customers fairly policy in place with a clear complaints procedure set up.

Once authorised companies must submit regular financial and operating data to the Financial Services Authority to insure they continue to operate within the framework of the regulation.

Compare Property Buyers have been authorised by the Financial Services Authority to offer advice on Sell and Rent Back Schemes. Entirely independent our advice will firstly allow you to work out if Sell and Rent Back suits your circumstances and secondly allow you to compare investors.

Our No obligation service is entirely Free and without bias, we are not owned, sponsored or backed either part or in full by any investor or groups of investors and we do not accept advertisements on our site from investment companies.

So why not save yourself time and compare property buyers and Sell and Rent Back Schemes authorised by the Financial Services Authority on our site http://www.comparepropertybuyers.co.uk

About compare property buyers

http://www.comparepropertybuyers.co.uk are Regulated by the UK Financial Services Authority to advise on Sell & Rent Back agreements.

Press Release Source: http://PressExposure.com/PR/compare_property_buyers.html

Press Release Submitted On: December 05, 2009 at 1:46 am
This article has been viewed 16289 time(s).