Frequently asked questions

There are no up-front application fees or charges. We pay all valuation and legal fees and there are no estate agency fees (A £500 contribution towards your legal fees will be made if you use your own solicitor). Please be aware that your advisor may charge you a fee. If so, the fee will be specified on your offer documents.

We can buy your property very quickly and the timeframe is up to you. Remember, if you complete quickly you may be able to avoid unnecessary mortgage and debt payments.

Qualified surveyors will value your property. We then use their valuations and our own research to make you a fair offer for your home.

Our offer is valid for 30 days. After that we will need to review the situation, in case anything has changed.

Yes. You can rent it back subject to the terms of an assured shorthold tenancy agreement (Short assured tenancy agreement applies in Scotland).

We have a range of rental options which are subject to the price we pay and the available equity in your property. We will explain these fully to you before you decide to proceed.

Yes, if you have taken the rent back option and complied with all the requirements of your tenancy, you can buy the property back from us at any time. The market value will be determined by the average of two independent valuations.

Sale and rent back is not right for everyone, but it is a sensible solution for some people. Before proceeding with sale and rent back, you should check the other options available to you, including making arrangements with your existing lender and/or the government schemes on offer. We insist you seek independent legal advice and recommend that you speak to a financial adviser or a debt counsellor before going ahead. We also ask you to sign a declaration confirming they have explored all the other options available.

Residential Property Solutions Ltd is backed by Elliot Advisers, the UK subsidiary of US hedge fund Elliot Associates which has approximately $25 billion of assets under management, which means we have solid financial backing. Elliot Advisers has provided a substantial amount of capital to ensure Residential Property Solutions Ltd has a sound financial footing. All tenants are also protected by an Assured Shorthold Tenancy Agreement, which means you cannot be evicted at short notice. 

For a number of reasons:

• Residential Property Solutions Ltd is authorised and regulated by the Financial Services Authority.
• Residential Property Solutions Ltd has solid financial backing and access to a significant pool of capital.
• Residential Property Solutions Ltd is run by a team of experienced housing market and mortgage industry experts who really understand the needs of borrowers facing financial difficulties.
• Our service has been designed to address head-on all the issues raised by both the Office of Fair Trading and Council of Mortgage Lenders.
• We don’t just make promises; we provide guarantees. For example, you are guaranteed the opportunity to buy back your home in the future. All guarantees are backed by a binding contract.
• Our service is completely transparent and nothing is hidden. We explain everything in plain English and will only proceed at a pace which you are comfortable with.
• We insist that you receive independent legal advice before proceeding.
• Residential Property Solutions Ltd belongs to the following organisations and abides by their principles and codes of practice:
  •    National Landlords Association
  •    Associate Member of the Council of Mortgage Lenders
  •    Association of Mortgage Intermediaries
  •    Association of Residential Letting Agents

We have a formal complaint procedure which involves an initial review within a set timescale by a director at Residential Property Solutions Ltd and, if the complaint remains unresolved, it is then referred to an independent compliance firm for arbitration. We also comply with the FSA’s dispute resolution rules, which includes giving you access to the Financial Ombudsman Service.

Buying properties at a price below market value is inevitably contentious, but the deal would not be possible if we did not do this. We have to cover the cost of the transaction and allow a margin not only for our profit but also for factors such as payment defaults and a continuing decline in property prices. If you think about it, someone who sold their home at a discount a couple of years ago, may well have sold it for more than it’s worth today!

The important issue is that the market value is set using professional valuations and we share the valuation information with you.

Most lenders don’t see themselves as being in the business of managing property portfolios and large numbers of tenants. However, a number of lenders are interested in the scheme on offer from Residential Property Solutions Ltd and are considering offering it to those borrowers for whom it may be appropriate. However, most lenders do believe that an independent service makes more sense than trying to offer such a service themselves.

No, although they do constitute the majority of our customers. It is also appropriate in a number of other circumstances, such as:

• Couples getting divorced who need to sell their property quickly to settle financial matters.
• A bereavement may have left children with a property which they want to sell quickly.
• Health issues may require a homeowner to sell their home in order to pay for specialist care.

You will only have a legal right to continue living in your home if you buy it back from Residential Property Solutions Ltd before the tenancy agreement comes to an end.

At the end of the tenancy agreement we may consider offering you a new tenancy agreement, but this will be entirely at our discretion.

It is very important you understand we may ask you to vacate the property at the end of the agreement, so that we can sell it.  We do not offer lifetime tenancy agreements.

We do not offer equity release style schemes which give you the right to remain in your home for the rest of your life. If you are interested in equity release, you should speak to an independent financial adviser or a specialist equity release firm.

Yes, it’s available throughout England, Wales and Scotland.

There are no up-front application fees or charges. We pay all valuation and legal fees and there are no estate agency fees (A £500 contribution towards your legal fees will be made if you use your own solicitor). Please be aware that your advisor may charge you a fee. If so, the fee will be specified on your offer documents.

We can buy your property very quickly and the timeframe is up to you. Remember, if you complete quickly you may be able to avoid unnecessary mortgage and debt payments.

Qualified surveyors will value your property. We then use their valuations and our own research to make you a fair offer for your home.

Our offer is valid for 30 days. After that we will need to review the situation, in case anything has changed.

Yes. You can rent it back subject to the terms of an assured shorthold tenancy agreement (Short assured tenancy agreement applies in Scotland).

We have a range of rental options which are subject to the price we pay and the available equity in your property. We will explain these fully to you before you decide to proceed.

Yes, if you have taken the rent back option and complied with all the requirements of your tenancy, you can buy the property back from us at any time. The market value will be determined by the average of two independent valuations.

Sale and rent back is not right for everyone, but it is a sensible solution for some people. Before proceeding with sale and rent back, you should check the other options available to you, including making arrangements with your existing lender and/or the government schemes on offer. We insist you seek independent legal advice and recommend that you speak to a financial adviser or a debt counsellor before going ahead. We also ask you to sign a declaration confirming they have explored all the other options available.

Residential Property Solutions Ltd is backed by Elliot Advisers, the UK subsidiary of US hedge fund Elliot Associates which has approximately $25 billion of assets under management, which means we have solid financial backing. Elliot Advisers has provided a substantial amount of capital to ensure Residential Property Solutions Ltd has a sound financial footing. All tenants are also protected by an Assured Shorthold Tenancy Agreement, which means you cannot be evicted at short notice. 

For a number of reasons:

• Residential Property Solutions Ltd is authorised and regulated by the Financial Services Authority.
• Residential Property Solutions Ltd has solid financial backing and access to a significant pool of capital.
• Residential Property Solutions Ltd is run by a team of experienced housing market and mortgage industry experts who really understand the needs of borrowers facing financial difficulties.
• Our service has been designed to address head-on all the issues raised by both the Office of Fair Trading and Council of Mortgage Lenders.
• We don’t just make promises; we provide guarantees. For example, you are guaranteed the opportunity to buy back your home in the future. All guarantees are backed by a binding contract.
• Our service is completely transparent and nothing is hidden. We explain everything in plain English and will only proceed at a pace which you are comfortable with.
• We insist that you receive independent legal advice before proceeding.
• Residential Property Solutions Ltd belongs to the following organisations and abides by their principles and codes of practice:
  •    National Landlords Association
  •    Associate Member of the Council of Mortgage Lenders
  •    Association of Mortgage Intermediaries
  •    Association of Residential Letting Agents

We have a formal complaint procedure which involves an initial review within a set timescale by a director at Residential Property Solutions Ltd and, if the complaint remains unresolved, it is then referred to an independent compliance firm for arbitration. We also comply with the FSA’s dispute resolution rules, which includes giving you access to the Financial Ombudsman Service.

Buying properties at a price below market value is inevitably contentious, but the deal would not be possible if we did not do this. We have to cover the cost of the transaction and allow a margin not only for our profit but also for factors such as payment defaults and a continuing decline in property prices. If you think about it, someone who sold their home at a discount a couple of years ago, may well have sold it for more than it’s worth today!

The important issue is that the market value is set using professional valuations and we share the valuation information with you.

Most lenders don’t see themselves as being in the business of managing property portfolios and large numbers of tenants. However, a number of lenders are interested in the scheme on offer from Residential Property Solutions Ltd and are considering offering it to those borrowers for whom it may be appropriate. However, most lenders do believe that an independent service makes more sense than trying to offer such a service themselves.

No, although they do constitute the majority of our customers. It is also appropriate in a number of other circumstances, such as:

• Couples getting divorced who need to sell their property quickly to settle financial matters.
• A bereavement may have left children with a property which they want to sell quickly.
• Health issues may require a homeowner to sell their home in order to pay for specialist care.

You will only have a legal right to continue living in your home if you buy it back from Residential Property Solutions Ltd before the tenancy agreement comes to an end.

At the end of the tenancy agreement we may consider offering you a new tenancy agreement, but this will be entirely at our discretion.

It is very important you understand we may ask you to vacate the property at the end of the agreement, so that we can sell it.  We do not offer lifetime tenancy agreements.

We do not offer equity release style schemes which give you the right to remain in your home for the rest of your life. If you are interested in equity release, you should speak to an independent financial adviser or a specialist equity release firm.

Yes, it’s available throughout England, Wales and Scotland.