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Government Action On Sale And Rent Back Agreements

EDM number 2547 in 2007-08, proposed by John Mason on 20/11/2008.
Categorised under the topic of Owner occupation.

That this House notes that the current economic crisis has caused widespread uncertainty and placed huge pressures on homeowners; recognises that as many as 55,000 homeowners to date have turned to unconventional and unregulated housing agreements such as Sale and Rent Back (SRB) agreements to ease these pressures; further notes that these arrangements often create huge uncertainty as tenancies are not guaranteed in the long term; welcomes the publication of the Office of Fair Trading Market Study Report and its examination of the problems surrounding SRB agreements; further notes the recommendations of the Office of Fair Trading to create a regulatory framework for SRB agreements and to promote consumer understanding of their risks; expresses disappointment at the Government's weak response to these recommendations, pledging no more than impact assessment and consultation; and calls upon the Government to take decisive action to help struggling homeowners by implementing these measures immediately.

This motion has been signed by a total of 7 MPs.

MPDateConstituencyPartyType
John Mason20/11/2008Glasgow EastScottish National PartyProposed
Peter Bottomley20/11/2008Worthing WestConservativeSeconded
Adrian Sanders24/11/2008TorbayLiberal DemocratSeconded
Paul Holmes24/11/2008ChesterfieldLiberal DemocratSeconded
David Heyes25/11/2008Ashton-under-LyneLabourSeconded
Lynne Jones25/11/2008Birmingham, Selly OakLabourSeconded
Andrew Stunell25/11/2008Hazel GroveLiberal DemocratSigned

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