The homeowners mortgage support scheme backed by the Government is designed to provide homeowners with more time to catch up on their arrears. However, despite this scheme being in place, homeowners are still losing their homes, and have to find rented accommodation. If you are faced with repossession then you may want to consider another scheme and this is a home sale through a sale and rent back agreement.

There are specialist property buyers out there who will pay cash for your property and allow you to rent it back for a fixed amount of time.

A sale such as this typically comes without any fees, which may be weighed up against the fact that you will usually not get the full value of your home, however you might have to drop the asking price with an estate agent anyway. Generally when taking this option you may get around 70% of the full value.

Bear in mind that a sale and rent back agreement might not be the best option. There may be other options available and you should always look into these.