You may have seen companies advertising something called a sale and rent back agreement and be wondering what it is, and how it helps.

Well usually people who are interested in selling their property to rent back are those who are struggling to repay their mortgage and who are in arrears. However some people who want to get their hands on the equity in their home may also choose to a sale and rent back agreement.

If you cannot repay your mortgage and arrears then at some point your lender is going to take you to court. Sale and rent back may be one way of avoiding repossession but there may also be other options that are more suitable.

Typically you can apply online and get information on a sale and rent back agreement and work out if this is something suitable. You do have to bear in mind that when selling this way you do not usually get 100% of the value of the property.  When considering the rental period also bear in mind that you may not be able to remain in the property over the long term.