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Property litigation news
Man loses property split appeal
9 November 2011
New Guide on shorthold tenants' deposits
13 October 2011
Homeowners no longer liable for sewerage repairs
4 October 2011
Plasterwork is structural feature, Court of Appeal rules in landlord-tenant dispute
22 September 2011
Houseboat platform does not constitute plot, court rules
25 August 2011
Billionaire's mistress designated owner of disputed £3m properties by High Court
5 August 2011
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.
Chris Hardy, 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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