When being faced with repossession being able to sell a house is one way of avoiding the lender taking you to court. It could also stave off court proceedings already in motion with eviction being a strong possibility if you cannot repay the mortgage arrears.

However when selling as a way of avoiding repossession, it also means that you would have to pack up and leave immediately. That is unless you choose to take a sale and rent back agreement.

If you want to know more about a sale and rent back agreement then you need to get in touch with an ethical company who offers to pay cash for your home allowing you to pay off the mortgage, and then you stay on in the property as the tenant. When considering this you may also wish to give some thought to the fact that usually there is a fixed rental period of 5 years.

If you use one of the popular search engines and type in we buy houses cash you will typically be presented with many choices. However when choosing a company offering a sale and rent back agreement look for one that complies with the FSA. Also bear in mind when weighing up the pros and cons that you usually only get around 70% of the value of the property.