The Buy and Rent Back Procedure: How It Works
If you are a homeowner that is in dire financial need, then it might be possible for you to use the sell and rent back house procedure in order to help solve the problems brought up by your being in financial need. When a person is in dire financial need, what they are going to have problems with is the fact that they might be just days away from a repossession on their house if they do not make a quick payment on mortgage balances that they are already behind on.
This is a terrible situation to be in, but one way to attempt to solve the dilemma is potentially for you to do a sell and rent back property agreement. This sell and rent back house agreement is something that you can use to get the lump sum cash immediately that you need to pay off your mortgage debt and therefore if you sell your home and rent it back you might be able to gain the financial independence that you have not had since this problem arose.
The main point to consider here is that when you sell house quickly in order to go for the rent back agreement afterwards, what you are doing is signing ownership of your house over to us through a house rent back. The fees that you continue to pay us afterwards are rental fees rather than mortgage fees and therefore you do not actually own your house anymore.
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.
