Business and Other Briefings
OFT: The OFT has launched a market study (to be completed in September 2008) into the ‘sale and rent back’ sector (written views to be submitted by the 14 June). Sale and rent back (also known as 'sale and lease back') arrangements involve individual homeowners selling their property at a discount in return for the option to remain in the house as a tenant. These arrangements may be taken up by consumers in financial difficulty facing possible repossession of their homes.
The OFT intends to take a detailed look at the characteristics of the sale and rent back product and, bearing in mind the circumstances in which these products are sold, consider whether existing consumer protection legislation is sufficient and effective.
This Brief gives details of an article: Paying tax deducted from interest that is paid by funding bond.