We have had an anxious wait since 1 July and daily checking of the FSA Register to see how the FSA were going to treat new applicants to the Sale and Rentback interim regime.
First, two regulated firms successfully varied permissions; then came Hilmar Land and only a day later I am delighted to report that a Wright & Wright sponsored and supported application for Buy House Limited has proven successful.
You can keep up with the successful registrants here FSA Register.
This application process has been untested as it is the first ever interim regime (which you will all know by now) and so, in spite of the industry wide collaboration, it has been nervy times.
We asked Alan Oliver at Buy House to comment (please excuse the Wright & Wright plug!),
“We’re extremely grateful to Julian @ W&W for continued assistance and support in our application. We’re pleased to be one of the first to gain authorisation – demonstrating our deep commitment to tidying up the SRB marketplace and provide a better service to consumers.
We’re still able to help unregulated investors earn from SRB leads if they inadvertently stumble across one. We’re also able to “license” investors (at no cost) to pro-actively advertise SRB in order to generate an income stream by providing SRB leads to us exclusively in return for commission. Parties interested in working with us should visit our trade website: srb.buyhouse.co.uk“
I am sure it won’t be long before we are reporting on other successful applicants with Wright & Wright and our other compliance partner firms.
And then the work will begin all over again- conveyancing the transactions, reducing risk and preparing for full regulation.
Please feel free to get in touch if you want more information about how we can help!
source: Wright & Wright LLP
