23 Jul

NLA discusses changes to SRB regulations

NLA discusses changes to SRB regulations

Sale and rent back (SRB) landlords are running out of time to submit an application for interim permission to continue with their business activities.

According to the National Landlords Association, SRB will become a regulated activity under the new rules and applicants will have to prove that they reach minimum standards.

This includes treating customers fairly and ensuring that important details – such as the length of time they can stay in a property - are easy to understand before the final decision to sell is made.

Applicants must also provide a sustainable business plan which demonstrates that access to funding will continue.

John Socha, vice chairman of the National Landlords Association, said that SRB "provides flexible tenure and the ability to remain in their property for those who can no longer afford the costs of home ownership".

In other rental market news, the stock of properties available to potential tenants has increased by 96 per cent in the past 12 months, Primelocation.com recently revealed.
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