Once upon a time if you fell behind with your mortgage repayments and could not catch up then the mortgage lender would take your home from you unless you sold it and moved out. Today there is another option to consider for anyone in the UK who finds themselves above their heads with their mortgage repayments. Selling and choosing to stay on in the property by paying rent is one way of avoiding losing your home to the lender and facing the stigma attached with repossession.

When you choose a sale and rent back agreement the monthly rent is set for a fixed period of time and may be more affordable than your large mortgage repayments.

Typically when you choose a sale and rent back agreement you are given a rough idea as to how much you may get for the property, this may be less than the full value, usually around 70%.

When considering taking a sale and rent back agreement always check out all other options before selling as there may be a more suitable options for your circumstances.