The Financial Services Authority (FSA) has proposed an interim regulatory system for SARB followed by a final system at a later date to be confirmed. The interim system is due to commence on the 1 July 2009. Firms operating SARB will be required to hold interim permission. The regulation will also apply to situations where a vendor retains a share in the property.

Some of the main proposals for the interim system are bullet pointed below and we have also added our thoughts as to how they may affect Landlords. We have contacted the FSA with some questions to try and strike a fair balance for Landlords.
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By way of background, M S LAW LLP are a firm of Solicitors specialising in all aspects of commercial and residential property and have become the investor’s choice of law firm.  We are at the forefront of the scheme which has commonly become known as Rent to Own/ Lease Options. Our Paul Gelder also runs a Group on Facebook called: ‘What you need to know on Options & Rent to Own’. Please feel free to look this up on Facebook and join. We also operate a free monthly e-newsletter called ‘It’s Not Rocket Science’ which gives helpful hints and tips on all things property. To subscribe please email info@ms-law.co.uk
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