The office of Fair Trading has stated that it feels the increasing market for people selling their homes to housing companies, and then renting them back, needs monitoring much more closely...
Sale and rent back needs regulation says OFT report - Daily news - Mortgage Introducer UK
I think this is a good point. A friend looked into this, simply to see what she could get, when she was trying to sell her flat quickly. They offered her £90,000 for it, and a rent that was £150 more a month than her current mortgage repayments. In the end she made a private sale for much more. Where I live not a week goes by without a leaflet pushed through the door offering to buy my property "quickly and easily" and "have money in your account to spend" and stating "stay living here as long as you like!" In the current climate, I think practices like this are not only an irritant, but also potentially damaging. They need strict regulation.
Sale and rent back needs regulation says OFT report - Daily news - Mortgage Introducer UK
I think this is a good point. A friend looked into this, simply to see what she could get, when she was trying to sell her flat quickly. They offered her £90,000 for it, and a rent that was £150 more a month than her current mortgage repayments. In the end she made a private sale for much more. Where I live not a week goes by without a leaflet pushed through the door offering to buy my property "quickly and easily" and "have money in your account to spend" and stating "stay living here as long as you like!" In the current climate, I think practices like this are not only an irritant, but also potentially damaging. They need strict regulation.