Sale and rent back firm Residential Property Solutions (RPS) and The Business Mortgage Company (TBMC), have teamed-up to launch a new funding proposition for professional landlords called The Property Divestment Scheme.
The scheme has been designed for landlords who either want to dispose of their property portfolios in order to exit the market or retire, or sell some properties to free up capital. RPS is willing to consider purchasing, at a discount, residential portfolios of any size in England, Scotland or Wales, comprising properties let on an assured shorthold tenancy basis.
The scheme will be marketed through Intermediaries who will get a 0.5% fee of the sale price for every successful transaction.
RPS chief executive, Peter Beaumont , said: “The Property Divestment Scheme gives landlords the ability to raise additional finance by disposing of tenanted properties quickly. We believe there is significant pent-up demand for this type of facility. It also provides an additional income stream for intermediaries.””