Sale and leaseback schemes to get voluntary code

The industry has been the subject of huge controversy. Scheme providers in this area purchase homes from people who can no longer afford to pay mortgage costs and then rent them back to the previous owners. However, many cases have come to light where the property was purchased far below market value and the previous owners were only given a six-month shorthold tenancy agreement. This means it was unlikely they would be able to stay in their home on a more long-term basis. In response, NASARB was set up in late 2007 to look at ways of creating a voluntary framework for sale and rent bac...