Equity Release Providers to Enter the Sale and Rent Back Market
Compliancy Services, a specialist consulting agency offering advice and support to FSA authorised firms, recently announced that, according to its forecasts, most equity release provider will soon turn onto the market of sale and rent back (SRB). The major reason for this move is the continuing weakness of the UK market.
The forecast of Compliancy Services was based on figures revealed by SHIP (Safe Home Income Plans), which suggest that the British sector of equity release fell by 14% in 1 year, from £1.09 billion in 2008 to £946 million last year. Compliancy Services experts believe that the statistics explains the increased number of equity released providers, which used the company’s services to evaluate the potential of the sale and rent back market.
Let us remind that the sale and rent back market has recently faced toughened control from the Financial Services Authority, which has banned abusive advertising and aggressive sales techniques.
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