The National Landlords Association (NLA) has released details of its guiding principles on sale and rent back schemes, which will form the core of its forthcoming Code of Practice.
The controversial schemes have been criticised for taking advantage of the financially vulnerable but, with arrears and repossessions set to rise, they may become a last resort for struggling borrowers desperate to stay in their own homes. The NLA announced the formation of the National Association of Sale and Rent Back earlier this year, and declared it would work on a voluntary code of conduct. However, the Office of Fair Trading has since declared it is conducting a market study of the schemes, with a report expected in September. The guiding principles released today, include the...
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