View more on these topics

FSA gets tough on unregulated rent-back deals

The Financial Services Authority is planning to regulate all firms and individuals selling sale-and-rent-back agreements.
Currently firms are only regulated if rent-back is their main business.

But the FSA says it is concerned that there are a number of unregulated rent-back transactions.

It believes that some small firms and individual investors active as rent-back providers are avoiding regulatory requirements because they claim that they are not carrying on rent-back activities ’by way of business’.

The FSA is seeking to change the rules so that even if a firm or individual does one transaction it will need to be regulated.

Recommended

Job losses on the cards as Xit2 plans relocation to Kent

Xit2 plans to relocate its head office from Oxford to Kent, which will result in redundancies at the firm. The mortgage and property outsourcing specialist was acquired by Decision Insight Information Group in January 2011. Xit2 is moving its base from Charlbury to DIIG’s European headquarters in Kent. Mark Blackwell, managing director of xit2, says […]

S&P upgrades HML

HML, has been awarded an upgrade to Above Average for its special servicing by Standard & Poor’s, which means no other UK servicer holds a higher rating for primary or special mortgage servicing.

LAST WEEK’S WINNER

“Danny and Peter clasped their balls but didn’t realise they were for everyone to play with.” TONY CASTLEPREMIER MORTGAGES & PROTECTION

Lifetime Isa – how it works

According to George Osborne “people like Isas – because they’re simple”. Fiona Tait is not convinced… Contributions & bonuses What he said: “From April 2017, anyone under the age of 40 will be able to open a Lifetime Isa and save up to £4,000 each year. And for every £4 you save, the Government will […]

Newsletter

News and expert analysis straight to your inbox

Sign up