The threat of repossession is devastating but there are options you can use to overcome the situation and one of them is by going with company offering you the option of a sale and rent back agreement. By doing so, you can stop the threat of repossession and are able to continue living in the property.

This is made possible by paying monthly rent, how much you will pay is determined by several factors. In order for this to be calculated, the company will need to know how much your property is worth and what the average cost for renting is. Usually you will be offered around 70% of the value of your home.

Buy and rent back through a sale and rent back agreement may stop repossesion but you have to make sure that it would work in your circumstances. One of the drawbacks to the agreement is that there is no guarantee how long you would be able to rent back, usually there is a fixed rental period of 5 years.

Big pluses for the scheme include not having to pay estate agents fees or worrying about broken chains as can happen when selling your home yourself. A regulated company should provide you with all the facts needed to determine suitability and give you time to read them over before making a decision.