If you are faced with the possibility of losing your home due to repossession (in London or UK) then there are several things you can do. In the first instance if the problem is only short term then you could work with your lender to make arrangements to repay the arrears in a reasonable amount of time. However if this is not an option then you could consider the possibility of a sell and rent back scheme.

If you are already going through repossession proceedings then this could be a viable option. If you wish to sell your house and rent it back there are specialists who will buy your home for the best deal and then rent it back to you. This means that you will be able to remain in your home and pay weekly or monthly rent. If you wish to take this option then a specialist will work on your behalf and stop house repossession proceedings.

If you sell your house and rent it back then you are able to use the money to payoff your mortgage which of course eliminates any further chance of having your home repossessed. The majority of specialists will then allow you to make arrangements to be able to buy back your home if and when your financial situation improves.

Sell and rent back is one option to bear in mind when faced with losing your home but you do have to make sure you understand the contract you will be signing with the company. Always read any terms and conditions thoroughly before signing your home over to them and get advice if needed.