RPS & TBMC launch property divestment scheme

Residential Property Solutions (RPS) the specialist property fund and The Business Mortgage Company (TBMC) the buy to let and commercial loan specialists, have teamed-up to launch a new funding proposition for professional landlords called The Property Divestment Scheme.

The Property Divestment 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. RPS has a considerable pool of funding in place and can therefore complete transactions quickly.

The scheme will be marketed through Intermediaries who will receive an ‘Introducer Fee’ of 0.5% 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”

Andy Young, Chief Executive of TBMC said: “We’re delighted to be working with RPS and to be distributing this excellent plan to intermediaries and via our panel relationships. The Property Divestment Scheme gives hard-pressed landlords another option at a time when they are struggling to raise finance.”

Young also stated “RPS promises to deliver a fast and high quality service and has staff who are real experts in this market. What’s more RPS is not dependant on third party funding, can therefore complete deals quickly and pays competitive fees on all completed transactions.”