Companies offering a buy and rent back scheme can be a lifeline to those who are suffering difficulties financially. It allows those who would otherwise have their home repossessed the option of selling it and then renting it back for a figure that is manageable each month. You would also have the option of being able to buy back your property at a time in the future.

Rent and buy back schemes are one way of obtaining repossession help and not having to suffer the hardship and humility of having to leave your home. However, there are certain factors that have to be considered when looking at taking this choice.

One consideration is that you would not get the full value of your home but only around 80% to 85% of it. However, you would be assured of a quick sale if both parties were happy with the contract, which in the majority of cases means the sale can be completed in just 4 weeks and in desperate cases even quicker. There would also be no estate agents fees to pay and the buy and rent back company would pay the costs of the solicitor on your behalf.