A sale and rent back agreement may help you to avoid the devastation that repossession can bring to the family. This option would allow you to sell your home and then rent it back while having the option of being able to buy back your home when your financial status has improved.

A regulated company offering a sale and rent back agreement would give you an estimate for your home which is based on several factors. How much your property is worth, how much you could afford to pay for rent and the average cost of renting in your area will all need to known. Usually around 70% of the value of your home will be offered. This is one way of being able to stop reposession but you do have to ensure it would be suitable for your circumstances.

Once this information is known, the company will then work with you and discuss the proposition over the phone. If you are still interested, the next step will be a meeting in your home and then an offer in the way of writing. A sale and rent back agreement is just one of the options you may wish to consider. It may not be the best.