A UK housing charity is calling for stronger legislation to stop repossession while the country is still in recession. The Home owner and debtor protection bill in Scotland is supposed to protect homeowners from losing their homes. However, the general principles of the legislation are being debated. As figures from the FSA have shown, there has been a rise in the amount of repossessions, and some of these victims are from Scotland along with the UK. The charity is asking for amendments to this bill, which may help people to stop repossession right up to the very last minute.

If you are faced with losing your home and repossession is imminent then you may wish to consider the option of being able to sell house to rent back by taking out a sale and rent back agreement and remain in the property by paying rent each month. However there is a fixed period that you are able to rent back over, this agreement is not for the long term.

Sell property and rent back may be an option worth considering if you cannot bear the thought of losing your home. When selling this way, companies pay cash for your home, which allows you to pay off your mortgage and arrears. However it may not be a suitable option for everyone so you should consider all other options.