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Market study – Sale and rent Back

The Office of Fair Trading (OFT) published its market study on sale and rent back on 15 October 2008.

The report made three recommendations:

  • Regulation – statutory regulation under the Financial Services Authority (FSA) should be the primary means of addressing the detriment in the market. OFT proposes that secondary legislation should be introduced under the Financial Services and Markets Act 2000 (FSMA) to allow the FSA to regulate SRB providers.

  • Increasing consumer awareness – of the risks around sale and rent back, particularly in the short-term before regulation comes into place.

  • Information about housing benefit – greater clarity around the eligibility of SRB consumers for housing benefit

Government responded to the report on 22 October 2008 and a copy of the response can be found on the right.

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