Schemes have been introduced by the Government to help those who are struggling to meet their mortgage repayments by giving them more time. Banks and building societies have also shown good faith by giving homeowners who have fallen behind on their mortgage repayments time to catch up on the missed repayments and get back on track. However, for many homeowners who have lost their jobs this help is little use as their mortgage arrears have mounted up to thousands of pounds and the debt continues to climb. Even if they should be lucky enough to find a job, many are on wages that fall below the sum they used to earn when they took on their mortgage.

If you are one of the many who fears they will eventually lose their home and it is only a matter of when then you may want to consider finding a way to sell to avoid the stigma of repossession. If you want to remain in the property then you may want to look into a sell and rent back agreement. There are companies out there who may buy your home and rent it to you for a fixed period of time.

If you sell home this way, repossession worries may be eased and you may be able to sell this way even if proceedings to take your home have already begun. However take all of your options into account as this may not be the most suitable. Also bear in mind that you may not get 100% of the value of your property.