Welcome Guest What is Sell & Rent Back
Sell & Rent Back options have been available to customers for several years. This service has helped many of our customers release the capital from their property and remain living there on a long term tenancy. There are many reasons why our customers choose to use this service and each have their own personal reasons for doing so.
What is Sell & Rent Back ?
Also known as 'Sale and Rent Back', 'Sell to Rent' or 'Mortgage Rescue', Sell and Rent Back is where you sell your property to Ultimate Homebuyers to get access to the cash tied-up in it and immediately rent it back for as long as necessary.
It's really that simple. Call us today to discuss how we can help your situation. Ultimate Homebuyers are members of NASARB who are calling for Regulation of the Sale & Rent Back Market.
Current news regarding Sell & Rent Back:
The National Association of Sale and Rent Back (NASARB), has welcomed the Budget announcement that sale and rent back will be investigated by the Office of Fair Trading (OFT).
A draft code of practice will be published towards the end of April and will have at its centre an impartial form of redress with sanctions for sale and rent back providers who fail to comply. The code will also include a requirement for the vendor to prove they have taken legal advice or to sign a waiver indicating they do not require such advice. This will help to ensure that potential tenants make a fully-informed decision.
The National Landlords Association (NLA) is in detailed discussions with the Office of Fair Trading (OFT) about the code of practice which will require transparency at every level throughout a transaction and afterwards.
John Socha, vice-chairman of the NLA and NASARB committee chairman said: "We are now very close to publishing a comprehensive code of practice which is independent from any one group of sale and rent back providers, is squarely focused on protecting the financially vulnerable and will ensure that compliance with the code is transparent."
He added: "If the draft code of practice is satisfactory to the OFT, then there will be no reason why the good, smaller sale and rent back operator should be squeezed out of the market by the larger property investors in a similar way to what has happened in the equity release market."
