OFT to regulate sale and rent back transactions - 01/12/2008
There are companies out there who will offer to buy your home from you at a discount and then allow you to stay on in the home as their tenant. Industry estimates are that there have been about 50,000 such transactions to date.
The OFT is concerned that consumers are being mislead and not receiving best advice. Many owners who sell and become tenants very soon find themselves evicted.
The OFT recommendations will help, but, as ever, there is no substitute for proper and independent professional advice from a solicitor or surveyor if you are thinking about entering into a transaction of this nature.
Warcup Skene was formed in 2007 by Mark Warcup and Claire Skene. The firm offers a range of
services to private and business clients both nationally and in the local community. We are
responsive to our clients needs and our aim is to provide a quality personal service at a
price that is transparent and competitive.
Our qualified solicitors are expert in their chosen
fields and our support staff are knowledgeable and helpful. If you do not know where to turn to
for legal advice call us and we will always be prepared to give you some initial free advice on
the telephone with no obligation.
