A financial watchdog has revealed that rules for sell and rent back firms will become tougher from next July. The sell and rent back industry is already being regulated by the Financial Services Authority, however next year companies will have to meet even stricter ruling. One of the concerns is that those who are signing up to sell their home and rent it back have a cooling off period. Another is the high-pressure sales techniques used by some unscrupulous firms. However, there are some ethical companies out there who allow you to sell your home fast and then remain in by paying monthly rent. This can be one way of avoiding repossession if you have no alternative.

If you want to sell quick this way to avoid having your home taken from you, then you should ensure that any company you are considering selling your home to is already regulated by the FSA. You may want to avoid any company that states you are able to remain in the property for life or who seems to be pushing you into signing an agreement to sell your home without providing all the facts. Never sign over your home without first reading through any paperwork or agreements that you are given very carefully, and consider any other options you may have to avoid losing your home.