Consumer groups are reminding those who wish to sell their home to a company offering a sell and rent back scheme to be wary of the cowboys. While many of these companies do play by the rules and offer homeowners a fair deal to sell to avoid repossession of their homes there are a few out there who want to grab properties and who give out false promises. If I wanted to sell my house fast if I could no longer afford my mortgage repayments I would look for a company that is regulated by the FSA.

If they are not then you might be led down the wrong path and be promised a rental lease on your home that gives you the opinion that you can live in the property by paying rent as long as you want. Apparently, some cowboys have given this impression when on the actual agreement the rental lease is short, sometimes as short as 6 months. If I was going to sell my house quickly this way I would check out any agreements and small print with a fine toothcomb first. Selling this way with a regulated company can of course allow you to remain in your home after paying off your mortgage and it can be a win-win situation. However do read the small print before signing your home over.