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Property litigation news
Leasehold laws 'in need of upheaval'
8 June 2010
Repossession vulnerability 'still an issue'
17 May 2010
Pensioner loses property litigation case over right of way
10 May 2010
Millionaire enters into £3.2m property dispute
29 April 2010
Court rules woman will not have to make mortgage repayments
26 March 2010
Woman wins right to evict daughter
18 March 2010
Landlords have four weeks for FSA applications
03 July 2009
The National Landlords' Association has warned that landlords have just four weeks to apply to the Financial Services Authority (FSA) to continue operating. Sale and rent back (SRB) landlords have to submit and complete an application form to give them interim permission to continue their activities.
"Although sale and rent back will not stop repossessions, ethical sale and rent back could be a way for homeowners to remain in their properties but become tenants," suggested John Socha, Vice-Chairman of the NLA. He added that better regulation would help ensure that tenants are treated fairly when renting out their properties.
The new regulations mean landlords operating under SRB need to guarantee access to independent valuations and ensure customers are aware of any level of discount they are being offered. Furthermore, they must have an understanding that their beneficial interest in the property will come to an end once it has been sold.
Pat Davies, partner in the Residential property practice group, comments: "Any scheme which adds transparency and greater understanding must be beneficial especially when it involves such a major asset as someone's home."
If you require legal advice, for either your private affairs or organisation, please call Buckinghamshire based B P Collins Solicitors on 01753 889995, complete the online enquiry form or email enquiries@bpcollins.co.uk.
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