Prison Sentence for Illegal Sale-and-Rent-Back Scheme Targeting Vulnerable Homeowners

Rajinder Gill and his accomplices have been sentenced for running an unauthorised sale-and-rent-back scheme that exploited homeowners in financial difficulty.

Rajinder Gill has been sentenced to two and a half years in prison after operating an illegal sale-and-rent-back business without regulatory authorisation and providing unlawful credit agreements and mortgage arrangements.

Two accomplices were also sentenced for their involvement. Amandeep Heer received a two-year community order with 250 hours of unpaid work, while Jetinder Sandhu completed 100 hours of unpaid work as part of a suspended prison sentence.

Exploiting Homeowners in Financial Distress

Through his company, Secure Property Consultants Ltd, Mr Gill targeted homeowners facing financial hardship. He promoted a scheme claiming he could quickly purchase their homes, provide cash advances, and allow them to remain living in the property as tenants.

In reality, victims were pressured into selling their homes far below market value while being charged excessive, unclear and hidden fees that totalled more than £925,000. Several victims ultimately lost their homes and were evicted.

“Mr Gill and his accomplices preyed on vulnerable homeowners, turning financial difficulty into misery to fill their own pockets. Sale-and-rent-back schemes carry significant risks. Anyone considering such arrangements should always check that the provider is authorised by the FCA.”

— Steve Smart, Executive Director of Enforcement and Market Oversight, FCA

Serious Misconduct and Systematic Exploitation

During sentencing, His Honour Judge Weekes described the scheme as a “pattern of systematic exploitation” and highlighted the serious and troubling impact it had on victims. The judge characterised Mr Gill’s conduct as dishonest and manipulative, describing the agreements as “particularly odious.”

When Mr Gill became aware of the FCA’s investigation, he attempted to conceal his activities by shutting down the company and instructing clients not to speak with the regulator.

Mr Gill pleaded guilty to 27 offences relating to sale-and-rent-back agreements and illegal credit and mortgage contracts, with a further 12 offences considered by the court during sentencing. Following trial proceedings, Ms Heer was also convicted of three similar offences. Mr Sandhu supported the offending activities.

Further Enforcement Action

The FCA has initiated confiscation proceedings to recover the proceeds of the crime and seek compensation for affected victims. In addition, Mr Gill has been disqualified from serving as a company director for eight years.

The case highlights the FCA’s continued commitment to protecting consumers and taking decisive action against individuals who exploit vulnerable homeowners or operate outside financial regulations.