Sale and Rent Back Regulation

The Financial Services Authority (FSA) has regulated the sale and rent back sector, following investigations they carried out within the industry. The regulation applies to all companies who trade within the sale and rent back industry.

Rent My House Back feels this regulation is vital for the industry and has welcomed this move by the FSA, as previously there were some companies offering to purchase homes and for the former owners to then pay monthly rent, but who then changed the terms and conditions at a later date.

The FSA are the regulatory body for all financial services activity within the UK, i.e. financial advisers, mortgage brokers, banks etc.

We are pleased to confirm that Rent My House Back is fully authorised and regulated by the FSA to carry out sale and rent back business, providing you with additional peace of mind, knowing you are dealing with a genuine and reputable company. Whereas previously there were many companies within the sell and rent back sector, as of 30 June 2010 there are now very few such companies who can legally provide this service. Therefore, if you are looking to sell and rent back your home today, we would urge you to carry out as much research as you can into any sale and rent back company you may be thinking of contacting.

A good starting point is to look on the FSA website: www.fsa.gov.uk. All regulated sale and rent back companies are issues with a Firm Reference Number (FRN), which can be checked on the website.

The FSA sets out guidelines which all sale and rent back firms must adhere to, including making sure you are fully aware of the risks of a sale and rent back scheme, as well as the benefits, giving you a 14 day cooling off period, prior to proceeding and giving you the right to remain in your home for a certain length of time.

Also see:

Sale and rent back about us
Sale and rent back peace of mind
Sale and rent back FSA regulation
Sale and rent back our service

Contact us or apply online for more information about sale and rent back regulation.