Government Action On Sale And Rent Back Agreements

EDM number 142 in 2008-09, proposed by John Mason on 04/12/2008.
Categorised under the topics of Owner occupation and Private rented housing.

That this House notes the current economic crisis has caused widespread uncertainty and placed huge pressures on homeowners; recognises that as many as 55,000 homeowners to date have turned to unconventional and unregulated housing agreements such as Sale and Rent Back (SRB) agreements to ease these pressures; further notes that these arrangements often create huge uncertainty as tenancies are not guaranteed in the long term; welcomes the publication of the Office of Fair Trading Market Study Report and its examination of the problems surrounding SRB agreements; further notes the recommendations of the Office of Fair Trading to create a regulatory framework for SRB agreements and to promote consumer understanding of their risks; expresses disappointment at Government's weak response to these recommendations, pledging no more than impact assessment and consultation; and calls upon the Government to take decisive action to help struggling homeowners by implementing these measures immediately.

This motion has been signed by a total of 17 MPs.