Sale and rent back comes with a warning!
16th October 2008
By Robin Bowman
Sale and rent back is becoming increasingly popular, not surprising considering the strains the UK property market is under.
In principle it's a simple transaction whereby investors buy homes from individuals, almost always at a discount, and then let those same individuals stay in the property as tenants.
The trouble is that these individuals are nearly always distressed sellers and therefore at their most vulnerable.
A new study carried out by the Office of Fair Trading is strongly critical of many sale and rent back schemes and it is likely to be noted by the government as it turns its concern to the ever-deteriorating state of the housing market
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