Buy House and Rent Back Information

There are a number of financial situations that a person might conceivably find themselves in when they buy a house and possess sole ownership of that piece of property. One of those situations is financial hardship as there are many homeowners today that are struggling to keep up with their mortgage payments. Mortgage payments might become difficult to pay and indeed when they are not paid the result is usually the repossession of the house, which is some people consider the concept of the sell and rent back house agreement.

The first part of the sale rent back agreement is the house sale. This is the first of two parts and it is the part where we happen to make the person involved an offer for the house and property that they currently own. Should the person accept the offer, then the property's ownership will transfer over to our company and the person will get the money that is the purchase price. That can be used to pay off the debt they have remaining to get themselves into a financially neutral situation.

The house, now under the ownership of our company, is rented to the person using an Assured Shorthold Tenancy. Usually the house is rented back at current market rates, but if the market rates for rent are higher than the mortgage payments were then it is quite possible that a lower amount might be reached in the contractual agreement signed by the person and our company.

The sell house and rent back agreement can help person on the verge of losing their house to bankruptcy. For more information or a free quote delivered within 24 hours, contact us.