When facing repossession from the lender you feel alone and totally in despair, after all you are faced with losing your home and it might have a lot of fond memories in it. If you cannot afford your mortgage repayments then of course something has to be done, the lender is not going to let you remain in your home for free. While lenders are not ogres they are in business. One solution that could work in your favour, help you to avoid repossession and allow you to remain in your home, is taking a sale and rent back agreement.

If you need help with repossession then a regulated company offering a sale and rent back is one option you may wish to consider. They will work with you and explain how an agreement works by way of remaining in the property while paying rent.

You do have to bear in mind that there are pros and cons when looking into a sale and rent back agreement. Typically you do not get 100% of the value of the property, in fact you may be offered around 70%. Also weigh up the fact that you may be able to sell without having to pay out fees, you may not be able to remain in the property for the long term.