The new sale and rent back regulatory scheme, which comes in from next week (1 July) will dramatically reduce the number of SRB operators in the market, a lawyer told me this morning.
That's fair enough you might suppose - the regulatory fees will range from £1,500 to £12,000 per SRB company - and after all, dodgy operators are bound to be put off by a scheme that is trying to weed them out. A lot of the cowboys will just retreat underground, decide it is no longer worth the bother, and the residential world will be better off for it.
But when he predicted that the number might drop from 1,000 players in the market to only 25 by August, I was genuinely surprised.
The government might have said the sector was full of "dodgy deals", but unless my maths is wrong, that means only 2.5% of SRB companies or investors are happy to continue their business after paying the charge, to meet minimum standards, and to be openly and formally regulated.
It makes you worry about the standard of the other 975.