UK Housing Alliance Working for Regulation
With the news First Direct have pulled out of the mortgage market and the credit crunch beginning to bite it is more important than ever that homeowners are aware of their options – and their rights.
To help protect homeowners UK Housing Alliance (UKHA), one of the UK’s largest sell-and-rent-back companies, is now urging the National Landlord’s Association (NLA) who are developing a code of conduct aimed at regulating the market to include several key points.
UKHA has recently seen a huge increase in enquiries as homeowners review their options and are keen to ensure the people they are dealing with are in full possession of the facts and can be assured they are dealing with reputable companies.
To this end UKHA support the NLA’s code which they hope will be approved by the Office of Fair Trading, offering sellers a preferred supplier list and getting rid of rogue landlords.
Douglas Lister, CEO of UK Housing Alliance, said: “We applaud the efforts the NLA are making to cleanse this sector of rogue landlords and are suggesting pointers to develop this code of conduct.
“It is exceptionally frustrating that a small number of unscrupulous companies and individuals are able to make money by undervaluing properties, unfairly increasing rents and forcing evictions.
“Their actions generally tarnish the sector for all the reputable companies out there who are trying to offer customers a workable solution.”
UK Housing Alliance, which was established in 2006, is not interested in quick sales from people heavily in debt, but is a business that buys property at a fair price, as agreed by an independent chartered surveyor, and then rents it back to the customer for a minimum of 10 years.
To demonstrate their commitment and desire to see the market regulated, UK Housing Alliance have gone further than just offering support to the NLA and have suggested a number of points for the code of conduct.
It is hoped this code will provide potential customers with ease of mind when looking for an option to sell their house and release cash.
UK Housing Alliance suggestions for the code include:
• Independent valuations – valuations from an accredited, independent body e.g. UK Housing Alliance use the Royal Institute Of Chartered Surveyors
• Transparent rent agreements –A clear view of the rent costs over the tenancy period. UK Housing Alliance Valuation Consultants assess the rent for the full 10 years of the tenancy, so people know how much they will be paying through the term.
• Contracted tenancy agreements with renewal options – UK Housing Alliance offers a 10 year guarantee with a tenant’s only option written into the agreement
• Reputable landlord management – UK Housing Alliance use a large national company Allsop to ensure their tenants get great service and support with maintenance
The NLA’s code of conduct is due to be published in April.
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