It has been reported that the number of mortgage products that are available on the market has risen by a third during the last eight months. There are currently over 1,600 mortgages available for those who wish to take the plunge and buy or for those who wish to remortgage. Remortgage may be considered if you are in mortgage arrears and are faced with losing your home. However of course it is essential that you are able to keep up with your new repayments each month.

For some re-mortgaging is not an option and they are either faced with the lender taking their home, selling it themselves or choosing a property rent back after selling their home to a company offering to pay cash.

For instance I could sell my home then rent back my home with the option of being able to buy it back once my finances has settled down. This allows me to pay off my mortgage and the arrears with it and not have to find somewhere else to live. The monthly rent may be a great deal more affordable than the mortgage repayments and I would not have to pay fees to sell my home this way.