For all those homeowners each year that fall behind on their mortgage repayments and have no hope of catching up there is some hope rather than having to leave behind all those treasured memories built up by being evicted. By choosing to sell your house to rent it back through a sale and rent back agreement you may be able to remain in the home as the tenant for the fixed rental period of time.

Sale and rent back agreements are one option you have when it comes to avoiding losing your home to repossession, however there are also many other uses for taking a sale and rent back agreement. For instance if you emigrating then you could sell your home for cash and the live in the property while all other loose ends were tied up and the day of your departure came. You would not have to look around for a place to rent while waiting and of course you would have the peace of mind that you home was sold with a bank balance to prove it.

Another possibility of where such a scheme could work is if you were divorcing and wanted to remain in your home while also needing to pay your partner for their share of the home. You would be able to remain in it and pay rent each month for the period of the agreement.