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Make sale-and-rent-back available to all
Whoever you are and whatever your circumstances you can get into financial difficulty.
The credit crunch and recession has led to people right across the social spectrum needing solutions such as sale-and-rent-back.
If a family is in financial difficulty, we should look to find a solution based on their needs and not on where they live or what type of property they live in. In any other arena criteria based on this could be classed as discrimination.
SARB firms are commercial enterprises and the properties they purchase need to fit a firm’s business model.
But a potential client living in a one-bedroom ex-council flat who is in need of a SARB solution should not be discriminated against simply because the SARB firm doesn’t buy one-bed council flats.
There is a solution for clients in these circumstances. The SARB firm can use Financial Services Authority exempt investors to purchase the property, ensuring the homeowner get the financial help they need enabling them to continue living in their home.
But the whole transaction, including the advice and arranging, is carried out by a reputable FSA authorised firm.
This flexible business model is based on transparent criteria such as 75% loan to value and affordability irrespective of the type of property or where in the country it happen to be.
DANIEL LOWERSON
PARTNER
DFB HOUSING SOLUTIONS
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