Sale and rent back providers welcome OFT investigation

NASARB, formed last year to combat the negative image of the industry, is also planning to publish a draft code of practice next month, in order to protect consumers. John Socha, NASARB Committee chairman, says: "We are pleased that the OFT is going to be looking into the practices of sale and rent back providers, the majority of whom provide owner-occupiers with their only opportunity to stay in their home as an alternative to imminent repossession. “Regrettably some providers have been targeting and abusing unwary and vulnerable consumers.” NASARB’s code of practice aims to make trans...