If you should find that you could not keep up with your monthly mortgage repayments, then you are at serious risk of losing the roof over your head. If you are behind with your mortgage repayments already and cannot show how you would be able to catch up, then the lender can seek repossession. A couple of months could be all that is needed for the lender to start proceedings.

If you want to stop repossession while at the same time remain in your home, then consider a sale and rent back agreement. A company offering an agreement may pay off your mortgage by buying your home and then allow you to rent it back. When considering rental bear in mind that there is usually a fixed period of 5 years.

You also need to weigh up all the good and bad points of a sale and rent back agreement. For instance while the sale come with no fees you usually do not get the full value of the property.

You do have to give it some serious thought as there could be a more viable option for your circumstances and an honest ethical company will make sure that you consider this along with the full terms and conditions of an agreement.