Why You Should Rent Back Your House
Everyone faces financial difficulties in their lives and when you are in the midst of it, it is not always easy to see how you will get out of it. When you are faced with mounting debt and the inability to pay your mortgage you may feel that there is no way out. There are often very few resources that people can find to assist them.
Many people faced with financial struggles consider selling their homes because they can no longer keep up with payments. They know that selling their home could bring them a considerable amount of money that they could live on for a short time. One thing that is often overlooked and is rather new to the market is a rent back scheme. With companies like ours, you sell your home to us and then have the option to rent it back. With the sell house to rent back plan, your rent is often less then what your mortgage payment was and gives you the option of staying in your home. When you choose to rent back your home you become a tenant, not the legal owner of the property.
The biggest advantage is that if you are having financial difficulties, by taking advantage of the rent back option you would not lose the home and have it affect your credit negatively. Making that final sale does not mean you have to leave your home right away.
The sale rent back plan is also good for people who are preparing to move overseas or who are relocating due to a job change. You can sell your home quickly and continue to rent it until it is time for you to move to your new location. This also can give you the quick funds to purchase your new home. This can give you the freedom to choose a house that will be the best suited for your family, all the while knowing you will have a place to stay until you find that perfect home.
We can deliver a free quote within 24 hours of your request. This allows you the chance to get your money quickly and to stop repossessions. We will also pay the solicitors fees for you. We offer high prices for homeowners choosing to go with this option. Renting back your home offers an option to those that don't want to lose their homes but need the money.
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.
