Launched in May this year, Residential Property Solutions (RPS) has created an ethical sale and rentback scheme to help intermediary clients avoid potential repossession by selling to RPS, renting back at a true market rate with a guaranteed buyback option. The whole plan is designed to address the many issues raised by the OFT’s recent study of the sale and rent back market and the FSA’s consultation paper published in February.
According to Kelvin Cooper, Managing Director of eGateway, it was vital to find a provider which not only met the highest standards but was also dedicated to the intermediary market.
He said, “I have known and worked with Peter Beaumont, the CEO of RPS, and his colleagues for a long time. In their previous lives they always conducted business in a consistent and professional manner and have championed the intermediary channel for many years. The new RPS Home Rescue product is particularly aimed at brokers and comes with a free legal and valuation service. Not only does it provide yet another valuable business opportunity for our members but also makes sure that clients receive an ethical and transparent service that sits comfortably with TCF (treating customers fairly) methodology.”
Peter Beaumont, Chief Executive of RPS, commented, “RPS is dedicated to the intermediary market and has developed a proposition which is fair, professional, fully transparent and a safe way for homeowners to resolve their financial problems and remain in their homes. Our watchwords are ‘suitability and sustainability’. We will only help homeowners for whom our service is suitable and where the new arrangement is sustainable over the long term. eGateway members can play a key role in the provision of this service and we look forward to working with them in the months ahead.”
