Sell And Rent Back Helps Maintain Lifestyles
Recent
studies show that the middle classes are aware of the difficult times
ahead, with three out of four homes earning over ?30,000
saying they will rein in their spending, according to a study by a
leading insurance company. Although they may have above average
salaries, a sell and
rent back scheme may be a consideration for some weighed down by
high lifestyle costs. At one point, many could treat their real homes
as a cash point, remortgaging and releasing home’s equity to fund any
shortfalls in income. But now the cost of debt is expensive
and remortgages are harder to secure, leaving many households with
hard
decisions
to make as they struggle with debt. It is been estimated up to ninety
mortgage deals a day are currently withdrawn. Some may have no choice
but to choose sell and rent back scheme.
