Sell Your House to Rent it Back
What is sale and rent back? Well, it simply does what it says - you sell your property and rent it back. Why would anyone want to do this? Many people in this day and age find that, for one reason or another, they need to sell their property. This can be due to debts, financial difficulty, job loss leading to mortgage arrears, divorce or perhaps simple relocation. Selling may not be the ideal answer as this could mean stress, trauma of leaving a family home and a lack of security. However, selling the property and then being given the opportunity to stay on as tenants can take that trauma out of the process.
Equity can be released from the home to pay off existing debts and have some money left over, in most cases, to pay rent while getting back to a stable situation. Rather than moving everyone on and making a new start somewhere unfamiliar, the road can be taken from the comfort of your own home.
Areas Covered:
Risk Warning: If you enter into a sale and rent back agreement you are unlikely to get the market value of your home and, as a tenant, may only be able to remain there for a limited period. There may be other options available. Please ask for a Key Terms Statement.
We do NOT offer the sale and rent back arrangements anymore. These arrangements are no longer authorised by the Financial Services Authority. No company can legally offer you a sale with a rent back. However, if you’re interested in selling without renting back, please get in touch with us today as we will be able to make you an offer.
