Rather than just give up and let your lender take your property if you cannot maintain your repayments, you could take another option, sell and rent back home with a specialist buy and rent back company. While taking this option means that you are no longer the owner of the property, it will at least mean that you do not have to move out. It can also mean you are given the chance of buying back the property when your finances allow it.

You do have to look into what a scheme entails before jumping in and signing your home over. However an ethical company will provide you with all the information needed for you to decide if a sell and rent back solution is a suitable option.

If the lender has already begun proceedings it is still not too late to stop the lender from taking possession of your home and evicting you. Once you have agreed to take the offer for your home that the company makes and have agreed to the rental figure, the company will help you to get the court proceedings stopped while you sell. Once you have sold then nothing will change other than you are now just a tenant, however you could buy back the property in the future for a fixed price.