Sell your home and rent it back if faced with mortgage arrears you cannot repay
If you are faced with mortgage arrears that you cannot repay then you are also looking at losing your home to the mortgage lender. If you are unable to come to an agreement with them to catch up on what you owe then the lender will have no option but to take you to court to have you evicted.
There are options that you may wish to consider if you are looking at imminent repossession. One of these options is to sell your home and rent it back with a company that is regulated by the Financial Services Authority.
If you have run out of options and cannot imagine leaving your home this is a solution that is at least worth considering, along with others.
When considering a sale and rent back agreement bear in mind that typically you do not get the full value of the property. However you also have to consider the fact that there is usually no fees to pay out.
We are fully regulated to advise on, arrange and enter into regulated sale and rent back agreements.
