If you cannot afford to pay the mortgage or the lender has already begun court proceedings due to missed payments and mortgage arrears, then you may want to act as soon as possible if you want to avoid losing your home. One way of being able to avoid repossession is to make a house sale.

However if you are lucky enough to be able to sell your home through the estate agent you would of course have to leave your home and all the happy memories built up in it. If you need to sell yet hate the thought of having to lose everything then you could consider getting cash for home, paying off the mortgage you owe and renting back for a fixed period.

When considering this option you may wish to consider the fact that you typically may not get 100% of the full value. Also bear in mind that the rental period will be fixed. If you weigh up the pros and cons of a sale and rent back agreement and decide this is for you, you then have to choose an ethical company who comply with the requirements of the FSA.