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SRB regulations 'good news for homeowners'
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New measures to regulate the sale and rent back (SRB) sector should offer good news to many homeowners, according to one advice group.

However, the Homeowners' Advice Centre also believes that the market may require ongoing reform to ensure that householders continue to benefit from complete security.

The Financial Services Authority (FSA) recently announced proposals to improve the ethical commitments of those landlords and firms working with SRB schemes.

Chris Jenkins, co-owner of the Homeowners' Advice Centre, commented that the new rules may lead to a slight decrease in the number of companies offering SRB.

He said: "The FSA regulations are good news, but I believe that they still fall far short of offering total security for potential sale and rent back customers."

The expert added that the FSA's interim regulations should look to form the beginning of a longer term process designed to educate homeowners about both the benefits and pitfalls of SRB schemes.ADNFCR-1100-ID-19281536-ADNFCR

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Date Published: 24 July 2009

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