When it comes to repossessions there are some parts of the country that have higher repossession statistics than others and Blyth valley in Northumberland has been listed as being one of the repossession hotspots.

Hot spots are defined by the number of repossession orders and high levels of unemployment. However, anyone, in any part of the country may be at risk of repossession especially with unemployment rates continuing to rise.

If you live in Blyth or any part of the UK, you may wish to consider the option of being able to sell home and rent back through a sale and rent back agreement. There are companies who offer to buy your home from you and pay cash, which allows you to clear your arrears and pay off the existing mortgage. Having done this you then remain in the property by paying rent each month.

However there are many things to consider before rushing into selling, one is to ensure that the company meets the criteria set out by the Financial Services Authority. There has been a lot of negative press regarding sell and rent backs. With this in mind you may wish to take the time to weigh up the pros and cons such as bear in mind that you typically do not get the full value of your home and there are restrictions when it comes to renting back.