After reporting recently that a large bunch of so called Sell and Rent Back operators have been panicked by courageous stories in the press and on TV about the scandals involved in this section of the money shark industry into forming the National Federation of Property Traders http://www.nfpt.org.uk we have a new bunch of chancers called National Association of Sell and Rent Back.
Sell and rent back what? Merchants? Charities?
Cowboys obviously.
At least the NFPT give some clue to the wary about what they are actually about – property trading – so that you can immediately see that if one of these characters offers you a rent back for the long term (or rent back for life), their very name ‘traders’ shows you that they are not even in the game of long term investment. If they considered themselves to be property investors, they would call themselves ‘investors’.
By using the very term Property Traders they give away the fact that you are very likely to sell your home today, and possibly be out of the street tomorrow.
Having lost a big chunk of your hard earned home equity.
Don’t sell and rent back.
Note: I use the term ‘courageous’ about the press stories because we have all seen programmes on TV where reporters try to oust rogue traders and other dangerous characters preying on the vulnerable, only to find these sharp suited hooligans giving them a beating. Being a section of the unregulated finance and property ‘industry’ the true nature of these sell and rent back operators is yet to be seen in the cold light of a TV camera crew arc light.
HPC
