Financial Times FT.com

'Vultures' circle distressed homes

By Jonathan Guthrie, Enterprise Editor

Published: March 29 2008 02:00 | Last updated: March 29 2008 02:00

Anyone with a For Sale sign outside their dwelling these days is likely to find flyers for "sale and rentback" businesses fluttering through their letterboxes.

These typically promise a "quick, hassle-free sale" without estate agents, after which the former homeowner can continue living in the property as a tenant.

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