The Office of fair Trading has hit out at 12 firms who are offering homeowners the chance to sell their home and rent it back. Some have had to remove their websites whilst others have had to change their advertisements. Some companies that offer you the option of being able to sell your house fast to avoid repossession and then rent it back have given false promises. Some claim that those selling their homes are able to remain in them for as long as they want. however usually when selling your home and renting back there is no lifetime guarantee of being able to rent back.

If you want to sell your house quick due to falling behind on mortgage repayments and into arrears then it is essential to ensure that you have chosen an ethical provider who is regulated by the Financial Services Authority. There are ethical companies out there who do offer the best deals based on the homeowners circumstances and this can be one way of being able to remain in the property, providing you have read the small print before signing any contract.

Selling your home this way may allow those struggling to meet their mortgage repayments some breathing space. In the future, they may also choose to buy back the home and become the homeowner again.