We offer a sell and rent back option that provides property owners who have not been able to keep up with their mortgage payments the chance of not having to leave their home.The sell and rent back service we provide is an option providing a flexible tenancy tailored to the individuals needs We offer them an option to rent for as long as they need - months, years, decades, the option is theirs.
Unfortunately, a number of rogue providers have been buying the property far below market value and only offering six month assured shorthold tenancies, hence providing little security of tenure for tenants.
The National Associtation of Sale and Rent Back (NASARB) are the only market-wide national trade body.They are now assembling a code of practice which will protect consumers and provide them with all the information they need to make an informed decision.The code of practice will take into account the Financial Services Authority principles of Treating Customers Fairly and will present providers a benchmark for good practice while offering consumers the necessary protection. A key part of the code will be a comprehensive and independent complaint and redress device allowing consumers to report bad practice. It will also ensure tenants are treated fairly and enter into sell and rent back agreements fully informed
A draft code of practice will be published in April.
