A Didsbury based sale and rent back company has gone into administration leaving many tenants with the possibility of losing vast sums of money. Administrators Baker Tilly said that tenants could rent as normal but they did not want to give tenants “false hope” about the likelyhood of them getting their 30% payback.
UK Housing Alliance (North West) Ltd, bought properties off of 375 homeowners who then rented the property back, the deal was 70% of the price up front and the remaining 30% after renting for 10 years. But after only 4 years in business, the firm has gone bust leaving some tenants possibly out of pocket to the tune of £40,000.
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