Sell To Rent Back For Mortgage Victims
Sell
to rent back schemes appeal to those people who really don’t want
to leave their family home, but whose financial backs are to the
wall, often through no fault of their own. Debt has generated a lot
of negative publicity on the irresponsible spending of many Brits as
they max out their credit cards. But in fact, investigators from the
financial watchdog, the Financial Services Authority, says some of
their research shows evidence of mortgage fraud. One lender was
giving its customers what they wanted for their mortgages so they
could meet the high property prices - affordability was a secondary
consideration. As a result, there are many homeowners struggling with
their mortgage repayments as the credit crunch hits and housing
prices plummet. Sell to rent back schemes could be the only
alternative to house repossession for some.
to rent back schemes appeal to those people who really don’t want
to leave their family home, but whose financial backs are to the
wall, often through no fault of their own. Debt has generated a lot
of negative publicity on the irresponsible spending of many Brits as
they max out their credit cards. But in fact, investigators from the
financial watchdog, the Financial Services Authority, says some of
their research shows evidence of mortgage fraud. One lender was
giving its customers what they wanted for their mortgages so they
could meet the high property prices - affordability was a secondary
consideration. As a result, there are many homeowners struggling with
their mortgage repayments as the credit crunch hits and housing
prices plummet. Sell to rent back schemes could be the only
alternative to house repossession for some.
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