This petition was submitted during the 2010-2015 parliament
Petition Buying property and life time leases
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With an aging population and very few retirement properties being built in housing developments, and what are built are normally out of the average person's price range, is it not time the Government not only looked at this and regulated the "Life Time Lease" market?
At the moment the over 60's can purchase a property for a lower than market price, normally around 40% lower. It would be their's to live in for the rest of their life, to look after and to maintain but when they die the property reverts to the company because YOU DID NOT ACTUALLY OWN THE PROPERTY, THE COMPANY DOES!!!!
This practice is not regulated at all by the FSA or any other government organisation. I want the Government to investigate this and to start forward thinking about what is quickly becoming one of the largest segments of our population?
This petition closed early because of a General Election
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