Charter to help brokers avoid ‘cowboy operators'

Sale-and-rent-back provider Residential Property Solutions (RPS) has launched a charter to encourage other firms to raise their standards and to help consumers and brokers avoid cowboy operators.

The firm said it will publish the names of any firms which can prove they adhere to the terms in the charter and will endorse them as being ethical sale-and-rent-back operators.

Among the many conditions, the charter states that all homeowners must not be pressured into entering into an agreement and be allowed to dictate the pace of completion, free from the pressure of short deadlines and have the option to take independent professional legal advice, at no cost to themselves, before being asked to sign on the dotted line.

Peter Beaumont chief executive of RPS, said it had become apparent from feedback it received from intermediaries that they were only prepared to deal with truly ethical sale-and-rent-back firms.

"However, it is difficult for brokers to sort the wheat from the chaff, so we have drafted a charter which we are suggesting all sale-and-rent-back firms should adhere to if they want to describe themselves as 'ethical'.

Beaumont concluded: "We are willing to play our part to help raise standards and encourage other sale-and-rent-back firms to sign-up to our ethical charter. It will cost them nothing, other than a commitment to provide their clients with the best possible service."

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