Consultation on sale and rent back code begins

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The National Landlords Association (NLA) is inviting interested parties to comment on its draft code of practice for providers in the sale and lease back market.

The schemes have been extremely controversial, with many critics accusing those who purchase properties from distressed homeowners of taking advantage of the financially vulnerable. Proposals on the draft code of practice include making marketing material clear and not including any misleading information. The code also limits rent increases to Retail Price Index (RPI) measure of inflation, and says customers must be made aware of all statutory terms of the tenancy agreement. However, the code does not require members to secure tenancy for one year; a major criticism of sale and lease ba...

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