To give you a clear idea of how the SRB process works with DFB Housing Solutions please read the following information detailing the main stages of the process and what happens at each stage. 

Making an enquiry and putting together your SRB solution

To enquire about SRB please contact us immediately. We arrange DFB Housing soultions to phone you and discuss your enquiry with you, Answer any questions and outline the terms of a potential offer. they will also work with you and do some research to determine a good estimate of the value of your property. If you are happy with the terms of the offer then they will arrange for one of there advisors to visit you in your home when it is convenient for you. Prior to this meeting they will provide you with a range of documents that give information about DFB Housing Solutions, the FSA and about Sale and Rent Back.

The purpose of the visit is so that they can meet you and answer any questions that you have regarding SRB and your options. They will work with you to tailor an offer based upon the level of debt that needs to be cleared, the amount of cash you require and the monthly rental payment that you can afford now and in the future. They may also be able to help you resolve any unsecured debts that you may have.

At this meeting They will also complete the initial paperwork and make a brief inspection of your home.

At this stage you are not tied in to a deal or obligated to accept an offer. 

You decide to proceed

If you decide to accept the offer and proceed with your SRB solution They will act immediately to arrange a valuation of your property. This is done by an independent surveyor and arranged at a time convenient for you. If the valuation meets the expected amount there offer stands and the solicitor will draw up the necessary contracts. They will normally offer a two year tenancy agreement. They may also be able to include options to renew your tenancy or re-purchase your property. The process from start to finish will take around 4 weeks. 

Transaction complete, you are a Tenant paying rent

When the process is complete you will be a tenant paying rent. The rental payment is fixed for the duration of the tenancy agreement and is normally collected via a standing order with your bank. As a tenant you do not have to pay for the buildings insurance on your property. As landlords They are also responsible for aspects of the maintenance of the property. 

The end of your Tenancy Agreement

At the end of your tenancy agreement you will have a decision to make regarding your future. As landlords they will always look favourably on renewing your tenancy agreement subject to you having adhered to its terms. They will also favourably consider any offer to sell you your house back.