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Sale and rent back regs

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Sale and rent back regs

Postby theycantdothat » Mon Jul 04, 2016 8:53 pm

I have Googled to try and find the relevant regs but keep going round in circles. The question is whether the regs apply when the sale is on the open market at the market price.
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Re: Sale and rent back regs

Postby Hairyloon » Tue Jul 05, 2016 10:49 pm

I suggest that the general rule is that regs apply except when they don't. Why do you think that they would not?
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Re: Sale and rent back regs

Postby dls » Wed Jul 06, 2016 5:43 am

Sorry, but I have never dealt with these regulations.
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Re: Sale and rent back regs

Postby atticus » Wed Jul 06, 2016 7:29 am

http://england.shelter.org.uk/get_advic ... ck_schemes

It does not appear that these regulations are contained in a Statutory Instrument.
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Re: Sale and rent back regs

Postby theycantdothat » Wed Jul 06, 2016 7:45 am

Hairyloon wrote:I suggest that the general rule is that regs apply except when they don't. Why do you think that they would not?


I do not. I am trying to fnd out when they apply.

Frustratingly, the FCA page in the Shelter link is a "404 page not found".
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Re: Sale and rent back regs

Postby atticus » Wed Jul 06, 2016 8:57 am

I expect you are looking on the FCA site.

Hairy - this is why it is necessary for tcdt to see the regulations. They should contain clear indications of the extent of their application and of exclusions, exceptions and the like.
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Re: Sale and rent back regs

Postby Hairyloon » Wed Jul 06, 2016 10:02 am

atticus wrote:Hairy - this is why it is necessary for tcdt to see the regulations...

This presupposes there are regulations, over and above those covering sale, and those covering rental.
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Re: Sale and rent back regs

Postby atticus » Wed Jul 06, 2016 12:24 pm

It does. Excellent point. Thank you for sharing it. tcdt will appreciate the insight.
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Re: Sale and rent back regs

Postby southwest » Sat Feb 11, 2017 6:33 pm

theycantdothat wrote:I have Googled to try and find the relevant regs but keep going round in circles. The question is whether the regs apply when the sale is on the open market at the market price.


Hi theycantdothat, how did you proceed with your SRB?

I think the regulations are here: https://www.handbook.fca.org.uk/handbook/MCOB/4/11.html

We're in a similar position. We know buyers exist, but how can we find them?

Last year we had put our house on the market (detached bungalow, Torbay/Devon, 2 bedrooms, open plan with sea view and large new conservatory) to release equity for funding our business. Originally we intended selling the house and moving somewhere else, but since we couldn't find a suitable and affordable alternative nearby, we now strongly consider staying!

We are fully aware of the problems associated with "Sale and Rent Back". We learned that apart from private buyers only very few regulated firms are active, and that we will get less money for the house than by a normal sale, but this may still be the best option for us - if we would get a sincere and reasonable offer.

Since, as mentioned, an important reason for selling our house is releasing equity for our business, we can't afford losing too much by the sale. From internet forums we've learned that often 85% are paid on SRB, and sometimes more according to the status of the property. In our case, the property has been completely renovated recently (we invested about £42,000 during the last few years), so no further investments or works are required.

Can anyone recommend interested private buyers or a reputable firm, and do you possibly know what they can and cannot do regarding SRB (e.g. Assured Tenancy with fixed term, option of repurchase at a later point in time...)? Or how could we find such buyers?

We would be ideal tenants and keep everything in good order and condition. As mentioned above, we invested a lot of money in the house and love the outcome very much.

Many thanks!
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Re: Sale and rent back regs

Postby dls » Sat Feb 11, 2017 7:41 pm

We cannot recommend any such.
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