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Regulating the sale and rent back market a consultation [electronic resource]

By: Language: English Publication details: London HM Treasury 2009ISBN:
  • 978184532559
Subject(s): LOC classification:
  • 306.1 $2 18
Online resources:
Partial contents:
Introduction: subject of the consultation; responding to the consultation; code of practice for written consultation; FSA consultation -- Background to the consultation: supporting homeowners in difficulty; the sale and rent back market; OFT report; product analysis; market analysis; fair treatment of consumers; existing consumer protection; OFT recommendations; government response -- Issues for consideration: policy options for consultation; draft legislation; definition of a sale and rent back agreement; arranging or advising on a sale and rent back agreement; entering into a sale and rent back agreement; administering a sale and rent back agreement; exclusions and exemptions; consequential amendments; interim regime; other comments -- Next steps: government response to consultation; next steps -- Annexes: impact assessment; draft Statutory Instrument
Summary: This report from the Office of Fair Trading (OFT) and the Financial Services Authority investigates the sale and rent back market, whereby properties are sold at a reduced rate, granting the current owners assured tenancies after the sale. It looks at current provisions and at possible areas where the legislation should be strengthened to protect consumers. This consultation builds on suggestions made in an OFT consultation and asks a range of stakeholders to comment on what steps should be taken.
Holdings
Item type Current library Call number Copy number Status Barcode
Book Virtual Online ONLINE PUBLICATION (Browse shelf(Opens below)) 1 Available 146606-1001

Introduction: subject of the consultation; responding to the consultation; code of practice for written consultation; FSA consultation -- Background to the consultation: supporting homeowners in difficulty; the sale and rent back market; OFT report; product analysis; market analysis; fair treatment of consumers; existing consumer protection; OFT recommendations; government response -- Issues for consideration: policy options for consultation; draft legislation; definition of a sale and rent back agreement; arranging or advising on a sale and rent back agreement; entering into a sale and rent back agreement; administering a sale and rent back agreement; exclusions and exemptions; consequential amendments; interim regime; other comments -- Next steps: government response to consultation; next steps -- Annexes: impact assessment; draft Statutory Instrument

This report from the Office of Fair Trading (OFT) and the Financial Services Authority investigates the sale and rent back market, whereby properties are sold at a reduced rate, granting the current owners assured tenancies after the sale. It looks at current provisions and at possible areas where the legislation should be strengthened to protect consumers. This consultation builds on suggestions made in an OFT consultation and asks a range of stakeholders to comment on what steps should be taken.