These were our pet hates.  Rogues, thieves, charlatans, money grabbers and vultures were some of the kinder descriptions given to many of those associated with these schemes.

But now - whilst this is no guarantee whatever that problems will not still arise - such schemes have come under the control and jurisdiction  of the Financial Services Authority.

Basically a sale and rent back scheme involves a person selling his/her house to a scheme operator, at a discount, and in return is granted a tenacy whereby the property is rented back to the original owner under a legally binding tenancy agreement

The scandal surrounding these schemes before are too numerous to go into now and largely irrelevant - suffice it to say that from an estimated several thousand 'operators' offering these plans before legislation was introduced, there are now only a handful of approved companies who comply with the stringent requirement of the FSA.

Whilst extreme care must still be taken, therefore, and whilst entering into such an arrangement would not be suitable for many, a sale and rent back arrangement may now be an option in rare cases.

If you think this might be an option, please discuss with us and we will outline to you the pros and cons of such an arrangement, and obtain relevant facts and figures for you from an approved scheme provider.