If I was in mortgage arrears and was faced with losing the family home one of the options I would look into, with others, is being able to sell and rent back my home. However of course as with anything there are both pros and cons that have to be weighed up and I would need to look into these carefully to ensure that I were making the right choice.

One of the bonuses to taking a buy rent back solution offered through a sale and rent back agreement is that I would not have to move out of the property. Usually I would be given the chance to rent for a fixed period of time.  The money from the sale is used to pay off the mortgage and mortgage arrears and if there is any equity left in the home, this could be used to pay off other debts. This could be a brand new start in life. There would be no fees to pay out for estate agents and solicitors nor would I have to do up the property or pay for a home information pack to sell my home.

The downside is that 100% of the full value is not offered by any company offering you the chance to sell and rent back.