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RPS offer help to SRB firms awaiting FSA authorisation

15 July 2010

Residential Property Solutions Limited is offering to help sale and rent back firms who are still awaiting full authorisation from the FSA, by fulfilling leads they have generated and paying them a commission on all such introduced business.

The FSA has recently stated that prior to full authorisation on 30th June this year, it had received just 27 applications from firms holding interim SRB authorisation and expected to authorise approximately 10 of those firms. Residential Property Solutions Ltd is one of just a handful of firms which, to date, have received FSA authorisation to undertake sale and rent back business.

Pete Thomson, Managing Director of Residential Property Solutions Ltd, said:

“I suspect more SRB firms will be authorised in due course and I can only assume that a number of them must have been late submitting their applications to the FSA. Unfortunately, the problem they now face is that they cannot legally trade without FSA authorisation.

“However, these firms can continue to lead generate, provided they do not give clients any advice or a recommendation and that all they do is refer them to an authorised firm such as Residential Property Solutions Ltd.

"We're happy to accept referrals and pay a commission on successful completion of each case, which will enable SRB firms to continue trading while they wait for authorisation from the FSA.”

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