Quick Property Sale & Rent Back Market to be Regulated

Quick Property Sale & Rent Back to be Regulated

The Government has this month published a summary of responses to its consultation of the quick property sale and rent back market, which closed in May 2009. The FSA will publish the details of its regulatory regime, which will take effect on 1 July 2009 subject to Parliamentary approval.

The Government’s consultation followed an Office of Fair Trading (OFT) market study published at the end of last year, which looked at the impacts of the growing quick property sale and rent back market. The OFT report identified a number of risks to homeowners entering into these arrangements and made three recommendations to Government, including compulsory regulation, increasing consumer awareness and improving information about housing benefits.

The proposed legislation includes a two-stage approach to regulation, in order to ensure consumers are protected as quickly as possible in the current market environment.

The FSA will put in place its full regulatory regime in the second quarter of 2010, following consultation and the publication of its final rules.

EstateAgencyFeesDirect.com will incorporate the findings and work to ensure that only regulated companies are listed.


Regulating Sale and Rent Back
3 June, 2009
MortgageIntroducer - Daily News

Quick Property Sale Comparison Service Press Release

EstateAgencyFeesDirect.com is fast becoming the recognised market leader and generating hundreds of comparison quotes each month on behalf of property sellers nationwide. The site has now expanded its unique estate agents fees service to include comparisons of Below Market Value (BMV) offers provided by quick property sales companies.

In much the same way the main estate agency comparison service works, sellers send their property & contact details to a panel of Quick Property Sales purchase companies operating nationwide via a single form. Panel members are alerted and have the option to offer the seller their best Below Market Value (BMV) offer enabling the seller to select the best one that suits their particular needs. In effect seller would be auctioning their property to the highest bidder to realise a higher BMV rate for their property when sold.


Amanda Thorne, Business Development
'In the current economic climate one of the many casualties is slow house sales and lenders not having the appetite to remortgage all properties. Many homeowners and property landlords are left searching for alternative ways to sell property quickly and efficiently.

There are many different reasons why they may need to sell properties fast. It could be to avoid repossession, an impending bankruptcy, breaking a chain of house sellers, probate properties, divorce settlement, even looking for a sale and rent back solution or an equity release solution.

There is no other online resource available for comparing these offers and many sellers often go with the quickest solution or the first company they approach; with this not always being the best offer they could receive.

Originally a few companies had the market cornered and would offer 70% BMV for a property. Using our unique and free service they could actually find a better offer of around 90% Below Market Value (BMV) if they are prepared to shop around.'

Although there is no-obligation using the site, as with any property transaction of this type, sellers are advised to seek independent financial legal advice. Any quotes generated via the site are subject to written agreement between all parties.

Recent statistics indicate that there are increasingly more debt-saddled homeowners and landlords in the UK. The amount of people seeking to sell their homes and properties through these companies has risen dramatically in the last year. Being able to secure the best deal to limit any losses is now more important than ever.

Buy to Let investors who would have normally used estate agents to find suitable properties are turning to quick property sale companies seeking below market value bargains. By avoiding estate agents altogether they can negotiate a better deal for themselves and the seller too.

With the addition of the Quick Property Sale comparison service, EstateAgencyFeesDirect now provides property sellers with the only online resource for comparing and maximising their property sale services.


Note to Editors:

Since launch in late March EstateAgencyFeesDirect have added many of the top professional property sale companies operating in UK aiming to provide sellers with the best guaranteed cash offer for their home or property.

With close affiliations with other property buying and selling services such as obtaining & comparing Home Information Pack costs, Chartered Surveyors, Domestic Removals and International Removal firms EstateAgencyFeesDirect now provides home buyers and sellers options for comparing all the different property buying and selling services available to maximise the properties sale.

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