New rules to control the repossession, arrears and sale and rent back market came into play this week with an aim of placing tougher standards on companies offering customer help. The rules come at the same time as plans to make all mortgage advisers accountable for their actions.
The focus of the changes is to crackdown on poorly run sale and rent back companies that target customers who are facing repossession or need cash quickly. Although there are reputable and honest organisations in the market place, there have been numerous complaints of misleading advertising, low valuations and extremely short-term tenancy agreements made regarding some of the others.
