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House of Commons Hansard
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23 March 2010
Volume 508

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To ask the Minister of State, Department for Business, Innovation and Skills how many sale and rent back transactions for residential property there were in the last 12 months. [323181]

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The Government have extended the scope of FSA regulation to include the sale and rent back market. Regulation will bring important protection for consumers in this market, preventing exploitation of vulnerable homeowners and providing means of redress for those who experience problems.

Full regulation of this market will commence in June 2010 but, in recognition of stakeholders' concerns, the Government have put in place real protections for homeowners now by introducing an interim regulatory regime in July 2009.

The FSA has started gathering data on the number of sale and rent back agreements entered into by regulated firms since the outset of the interim regime. However, figures are not available at this early stage.

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To ask the Minister of State, Department for Business, Innovation and Skills when he expects to provide a response to the Office of Fair Trading's recent recommendations on the regulation of home buying and selling. [323261]

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I refer the hon. Member to the answer I gave on 22 March 2010, Official Report, column 154W.