Financial services authority regulation of sell and rent back

The financial services authority (FSA) is now the regulating body for the sale and rent back industry (also known as sell and rent back), are currently implementing an interim regime. All sell and rent back companies wishing to continue trading within the sell and rent back market will have to submit an application to the FSA by the end of July.

We would like to advise all current customers or future customers that Quick Purchase has applied for the sell and rent back FSA interim regime, and we anticipate that this will be approved shortly. There are different levels of which people can continue trading within the industry, we at Quick Purchase have applied to the FSA to continue purchasing property from people who wish to use the sell and rent back service.

There are two other ways in which companies would be involved in sell and rent back.

• Companies simply just arranging sell and rent back transactions (them not being the buyer) and are classed as arrangers.

• Companies solely advising on sell and rent back activities, again not a buyer.

At Quick Purchase we welcome this regime with open arms because we feel that some clients that have been treated unfairly by what could only be described as 'rouge traders' within the industry.

For those of you who are not aware of whom the FSA are they are the regulatory body for all financial services activity within the UK i.e. financial advisers, mortgage brokers, banks, etc, etc are all regulated by the FSA.

There were literally hundreds of companies within the sell and rent back sector but as of 1st August 2009 we feel that there will be only a handful of companies that will be regulated by the FSA.

If you would like to find out more about sell and rent back please see:

Sell and rent back
Sell and rent back explained
Sell and rent back advantages
Sell and rent back disadvantages
Sell and rent back companies
Sell and rent back valuations
Sell and rent back costs

Contact us or apply online for hear about more sell and rent back.