Home sale practice warning to firms

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The trading watchdog is urging almost 120 firms operating across the "quick house sale" sector to make sure their business practices are up to scratch after an investigation found some hard-pressed customers end up handing over their home for less than half of its market value.

The Office of Fair Trading (OFT) said it has also opened formal investigations into three un-named businesses for alleged unfair practices that may have led to some customers losing tens of thousands of pounds.