Lots of people seek for a quick sale on their property to wipe off a bunch of debts and arrears. A house is also a home though so for some Brits choosing a business that may achieve that but also help them to rent it back is a advantage.
But imagine if the quick property sales arrangement goes sour and the rent is increased after a year to an inappropriate amount?
Agonize not because new rules are coming into effect on 30th April 2010 that may put all your anxieties and troubles aside.
The Financial Services Authority (FSA), who handles all financial authorities in the country, has issued some new rules for the industry to comply with.
The greatest principle, that would affect most consumers on a practical level, is that they are guaranteed tenancy for no less than five years when they have swapped the ownership of their home for a tenancy agreement using a sell house quick program. It’ll deter the corporation kicking them out 12 months after they have signed their residence over.
The policies are made to care for homeowners in money problems from falling victim to companies taking advantage.
The policies will ban exploitative advertising and high-pressure sales techniques to tackle firms who are exploiting vulnerable consumers at such a difficult time.
