NLA develops guiding principles for sale and rent back

04 2008
The National Landlords Association (NLA) has today (June 4th) announced its guiding principles for its upcoming Code of Practice for landlords in the sale and rent back market.

With the mortgage market creaking under the weight of the localised effects of the global credit crunch, many homeowners are now looking to become tenants to restructure their financial commitments.

So as the NLA prepares to issue its code later in the month, it has outlined four key pointers, mainly directed at vulnerable consumers.

Chairman David Salusbury told Headline Money website: "By the end of this month we expect to be in a position to publish a NLA Code of Practice for sale and rent back.

"The guiding principles we are releasing now give a strong indication of the NLA's determination to offer robust levels of protection to distressed homeowners and their families."

The four areas touched upon are transparency, redress, raising standards and independence.

Mr Salusbury also added that the code will protect tenants from rogue landlords, who may be looking to take advantage of the recent boom in the rental market.
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