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Renting back to seller?

Comments

zzzLazyDaisy Posts: 12,497 Forumite

20 June 2013 at 9:55PM

Sale and rent back - according to CAB website you have to give them a minimum tenancy of 5 years AND you have to be registered on the financial services register. Perhaps more importantly many lenders will not allow you to rent back to the former owner, so check with the lender before you commit yourself.

http://www.adviceguide.org.uk/wales/debt_w/debt_mortgage_problems_ew/debt_how_to_sort_out_your_mortgage_problems_e/sale_and_rent_back_schemes.htm

EDIT cross posted with Pastures New

I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.
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Mr_Pitiful Posts: 139 Forumite

20 June 2013 at 9:57PM

Yorkie1 wrote: »

I've certainly read it on here.

This BBC article outlines it - not sure if there have been any further developments in the last 15 months since it was written:
http://www.bbc.co.uk/news/business-16872205

It's back again now and governed by the FCA as the FSA is no more.

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