Sunday, August 31, 2008

How Safe Is This?

Have your say on sale and rent back

"Interested parties should have their say now on the sale and rent back market. Those of you who wish to submit your views on the draft Code of Practice for landlords involved in the sale and rent back market have only got a few more days to send in your response." Only just found this. Do these schemes skew the market? Sale and rent back may have the potential to hide many problems as the economic position worsens, whilst posing a risk to certain vulnerable people. Should they not be fully reulated like equity release schemes? Answers required by today!

Posted by renting2 @ 05:36 PM (297 views)
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One thought on “How Safe Is This?

  • First of all, this “Code of Practice” looks like its completely voluntary – its not backed up by any statute of law.

    This means two things:

    1. Any infringements will be examined on an isolated case-by-case approach – widespread malpractice will be dealt with … well on a case-by-case basis.
    2. Even if you do “have your say”, they can simply ignore your suggestions.

    Sale and rent back is like putting makeup on a dying patient. Makes things look good for a while but ultimately it won’t hide what’s going on underneath.

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