Thursday, September 11, 2008

Two families have warned of the dangers of entering into sale-and-rent-back property agreements.

Families' property scheme warning

The dangers of sell and rent back:- People ending up homeless, and being asked for £27k fee while being owed £18k by Home Assured Limited.

Posted by fly by night @ 11:52 AM (773 views)
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6 thoughts on “Two families have warned of the dangers of entering into sale-and-rent-back property agreements.

  • These operations are springing up all over. The law needs to be changed. Could well be a place for local government here.

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  • They are licensed under the consumer credit act so the FSA could raid them and shut them down.
    Judging on past performance they’ll do nothing until thousands of people have been conned like this
    and the main culprits have done a runner, swag bag over the shoulder.
    Its pathetic and predictable.

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  • These are equity release plans for the young. They should be given the same guarantees and protection that the law and SHIP provide.

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  • “We’ve gone from owning a four double-bedroomed cottage to being rehoused in a two-bed council flat,” she said.”

    How did she manage that ?

    Made herself homeless by selling (and has the cash?) and then get’s a council flat .

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  • More F****g psychopaths! But really, people need to wake up and realise that if it looks like they’ll take a bath, then they probably will – these companies are not in business to be charities. Buyer be-Aware.

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  • it_is_going_with_a_bang says:

    When someone tells you they initially ‘blamed the house’ you know they are not quite all there.

    If thats one part of her thought process I can only imagine the rest.
    She would have been entitled to accomodation since she didnt directly leave her owned house but was made homeless whilst renting and therefore falls nicely into the get help bracket.
    And believe me she needs help one way or the other!

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