If you get behind on your mortgage and cannot see how you are going to catch up then you should prepare yourself for repossession by your lender. If you find yourself in this predicament then you can either get ready to move out of your home and have the lender sell it to get back what you owe, or you can sell it yourself.

If you choose to sell yourself you can take the estate agent option or look into the option of sell rent back through a sale and rent back agreement. Selling and renting back is the easiest option to take and it also allows you a big plus over selling your home through an estate agent or having the lender repossess. You are able to remain in the property after selling by paying rent. The downside is that there is no lifetime guarantee for renting.

How much rent you will have to pay will be decided on different factors and a regulated company will explain these to you. They will also tell you how much they would be willing to buy your home for, this is typically less than the full value of your property. The whole process of a sale and rent back agreement is easy as the company works with you every step of the way and there are no fees to payout for a solicitor or to pay an estate agent. The downside is that you do not get 100% of the value of the property and the rental period will be fixed.