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Sell Quickly » June, 2009

Sell and Rent back scheme suspended

Tuesday, 30th June 2009

With immediate effect we will not be offering our Sell and Rent Back Scheme. Sell and Rent back also known as Sale and Rent back is where the client would sell their home to us, but continue to live there as a tenant.

This does not affect our existing tenants who have sold their homes to us, they will continue to enjoy the benefits of being our tenants without any changes.

FSA regulation of the whole sale and rent back industry will begin on 1st July 2009. All firms have to apply for interim authorisation under FSA regulation from the 1st of July 2009. Full authorisation is scheduled to start on 30 June 2010.

We have decided as a company to stand down from the Sale and rent back market as we feel there is too much instability with the down turn in the economy and the credit crunch to continue our Sale and rent back business. We are still buying property up and down the country, but not able to offer clients the option of becoming our tenants. We may choose to continue our Sale and rent back scheme in the future and will publish details on this website.