Last month we reported on the Financial Services Authority (FSA) and their plans to introduce new repossession laws to help protect struggling home owners. The new measures will ensure that home owners who are finding it difficult paying back their loan are treated fairly and equally by lenders.
Well now we’re a month nearer to these laws being in place and they can’t come too soon for those in need of them. As well as these laws being put in place, there will also be new rules governing the Sell and Rent Back market that will ensure home owners who need the cash from their home are also guaranteed a roof over their heads. With these two movements in place, 2010 stands to be a good year for home owners needed to make tricky financial decisions.
Tags: avoid repossession, house repossession, repossession, repossession order, stop repossession