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RPS granted interim sale and rent back authorisation

Residential Property Solutions has been granted interim authorisation by the FSA to conduct sale and rent back business.

Under new rules introduced on July 1, all unauthorised sale and rent back firms had to apply for interim authorisation to enable them to conduct business prior to the full introduction of the regulatory regime in the second quarter of 2010.

RPS chief executive Peter Beaumont says: “I believe we are one of the first firms to be notified of interim authorisation. It will be interesting to see, in due course, how many firms have been granted authorisation, because this will be the first time that an accurate figure can be put against the size of the sale and rent back market.”

Beaumont’s firm has produced its own ethical charter with additional standards for sale and rent back providers, beyond those of the regulator. He says: “I believe this will help raise standards across the whole industry. Regrettably, no firms have yet put their names forward, but I am hopeful that other sale and rent back providers will see the wisdom of doing so, in due course.”


Claire Barker

Claire Barker is getting used to acting as a spokesperson on the equity-release business. “It is something I have really enjoyed so far. It is really important that we do get our message out so I am very happy to come out and talk to people and push the message that we are here and ready to do business and will do it in a sensible way.”

Luckraft funds on black list

Principal Investment Management has blacklisted George Luckraft’s Axa Framlington equity income and monthly income funds in its latest income study.

Nobody expects the Spanish Inquisition

Paul Fidell, Head of Business Development (Investments), writes about one of the primary challenges for those involved in estate planning. He looks at dealing with investment uncertainty in these low growth, low inflation but still volatile investment conditions. Protection of capital, to leave something for beneficiaries, is a fundamental objective of many people’s plans for […]


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