Hi RBSB.

We don't really want external links posted to the forum. One of the main issues is that we have no control over them, so when the owner of that website removes the content or moves it on their site we're left with a broken link here which can be annoying for future visitors.

Best bet is to point out how people can find the information that you have identified. Thanks for taking time out to help Glasbor on this though.

Hello Glasbor.

You make a fair point. The £500 (or £0 if you use other firms that do the same without charge) really assumes that the property is not to be sold. If it was sold prior to discharge the situation is different. The situation may also be different if the trust deed were to fail for certain reasons.

It doesn't seem like the trustee has any reason to stand in the way of the sale assuming that no profit is being generated and that the property is being sold at true value.

Hi TDA-Got it, I thought it was an issue to post the full link which folk would click on.

The SARB issue is a concern, it has been suspended by FSA and even private individuals should be regulated by the FSA when (if) the suspension is lifted.

Glasbor, I'm sure you're going on a character judgement but it's actually not lawful now to do this with private individuals or companies. Prior to the suspension, the point in regulation was to ensure sellers who were financially vulnerable were not convinced without good information. Issues such as the financial stability of the buyer, security of tenure for the seller, full independent valuation if the property, clarity on timing and proportion or frequency of rent rises.

Even though this is an ideal solution for many and is not inherently dangerous, the FSA have reviewed those who were registered and for a short time the advice was that individuals could do one per year with family members. This then became full suspension in Feb last year.

Just incase this comes up for anyone else, it is likely to go undetected in a cash purchase scenario unless the conveyancing solicitor questions it, but if a mortgage is used, the buyer is open to being found guilty of mortgage fraud as well as engaging in SARB without being registered with FSA.