Call for FSA to regulate 'misleading' sale and leaseback

clock

The Council of Mortgage Lenders, Citizens Advice and Shelter have called on the Government to tell the FSA to regulate sale and leaseback schemes in a bid to protect consumers.

The three organisations wrote a letter to Economic Secretary, Kitty Ussher, expressing concern that some schemes are not treating customers fairly. Sale and leaseback schemes allow an owner-occupier to sell their home to a company and remain in the property as a tenant. However, recent press coverage has focused on some consumers who have been forced to move out of their home after just a year or who have received significantly less than the market value of their home. The letter to the Treasury says the Office of Fair trading should investigate advertising, sales and customer care stand...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Mortgages

Client conundrum: Mortgage overpayments versus investments

Client conundrum: Mortgage overpayments versus investments

1.4 million people will see mortgage deals end this year

Laura Suter
clock 22 February 2023 • 3 min read

Summer economic update: Sunak confirms stamp duty holiday in 'mini-Budget'

Mini Budget

Hannah Godfrey
clock 08 July 2020 • 2 min read

FCA sounds alarm on equity release advice

'Tick-box exercise'

Hannah Godfrey
clock 17 June 2020 • 1 min read