Repossession is one of the most frightening aspects of buying a home. Having to keep up with the mortgage repayments for what can often be fifteen or more years is a terrifying thought. Miss a couple of repayments and the lender will want to know why and of course you have to catch up on the missed repayments.

If you have found yourself in this situation and you cannot afford to repay what you owe you may be looking at losing your home to repossession. One option to avoid the stress and worry, not to mention the shame of being evicted is to sell and rent back your property and live in it as a tenant through a sale and rent back agreement.

If you choose a sale and rent back agreement you may be able to pay off the mortgage and any arrears and pay rent for a fixed period of time.

There are numerous companies out there who offer a sale and rent back agreement but ensure that you choose one that is backed by the Financial Services Authority.