Sell Your House, But Stay Living In Your Home

By Author: Abby johnson
Total Articles: 5
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Are you at the risk of having your property repossessed and getting thrown out? If yes, then there are a number of Sale and Rent-Back property companies, operating throughout the UK, that provide a guaranteed quick sale to avoid repossession and the high costs and charges associated with it.

These Sale and Rent-Back property companies claim to offer a speedy solution to the person in arrears, and Rent Back deals are advertised on the basis that they can be conducted swiftly and quietly with no need to tell neighbours or even family.

But there are major considerations in dealing with these companies, some of which may be looking to turn a quick profit from another's misfortune. If you are interested in selling your home and renting it back, there is some very important information that you need to be aware of before entering into any discussions with sale and rent back companies.

What is sale-and-rent-back?

One sector of the property market that receives a lot of attention these days is the sale-and-rent-back sector. Sale-and-rent-back companies purchase your home for less than the market value, generally ...
... paying all fees and costs, and then rent the property back to the original owners at market rent. Homeowners can use the cash to settle their existing mortgage and any outstanding debts, while remaining in their own home. They can rent back their house at an agreed price either in the short term whilst they find another house, or long term, up to five years - it is entirely up to them.

Why would someone choose sale-and-rent-back?

Sale and rent back may not be an option that suits everyone, but for some people in financial difficulty, staying in their home remains very important. Selling your home and then having the option to rent it back offers many advantages for those who want to release the equity tied up in their home and to continue living there as a tenant.

So, there is a real demand for sale and rent back and there is no doubt that today customers are much better protected and much better informed. The majority of sale-and-rent-back firms appear to be acting properly and treating their customers fairly.

Who are the sale-and-rent back firms?

Some firms that offer sale-and-rent-back have grown from those offering Quick Sale services. They are fully regulated firms with a license from the Financial Services Authority to carry out sale and rent back activities. Other firms have come from a mortgage broker or equity release background. It is important to get good sale and rent back advice that allows you to understand all the options available to you. Then you are free to make an informed choice that is right for you, without any pressure.

You should always check that you have considered all the alternatives before going ahead with Sale and Rent Back. If you do decide on Sale and Rent Back, understand that it is a complex area. The purchase price offered, as well as the terms and conditions will vary from firm to firm. It is always best to get independent advice so that you find the solution that is best for you.

Have you heard about Rent Back House? Well here at rentback-advice.org we do just that. To learn more about how many people have acted to stop repossession call us at 0845-053-6699.