The thought of having your home repossessed is a nightmare that all homeowners face during the time they are repaying their mortgage, and sadly for many homeowners each year that nightmare becomes a reality. Many of these repossessions could perhaps have been avoided if the homeowner had realised there were options they may be able to take.

Property reposession may be stopped in its tracks even if it has gone as far as the courts if you choose a sale and rent back agreement with an ethical company following the guidelines of the FSA. There are many buy and rent back companies to be found online who will offer you a price for your home which allows you to pay off your lender. However usually you will get around 70% of the value of the property instead of 100%.

You remain in the property by paying rent each month, for a fixed period, usually 5 years, which may be more affordable than the mortgage you were paying.

If you are in debt and struggling each month to find the mortgage money then take steps before the situation becomes dire. Look into all of the options open to you including a sale and rent agreement and weight up the pros and cons.

An ethical company offering a sale and rent back agreement may offer free advice and should explain what they could do for you without pushing you into making any rash decisions.