There
are many people who need to sell their house, but do not want to move
from it. Often through no fault of their own, people fall behind with
their mortgage repayments, and other debts become a big problem for
them.
You
may have children who are settled in their local schools, you like
the area a lot, or perhaps you do not want the aggravation of moving.
The
rent back company has the ideal solution. Rent
back company can make you a cash offer for your house and buy it
quickly. While this is happening, the rent back solicitor will have
arranged for your mortgage and any other secured loans to be repaid
upon completion and for any repossession proceedings to be stopped.
Any
cash left over from the sale is yours to keep. You can remain in your
home as tenants for as long as you wish, at a rent agreed early on in
the proceedings so you will know your monthly outgoings and can
budget easily. Some of the many benefits of this solution are that
your neighbours will not know your business and life can carry on
normally, minus your previous debt burden. Also, you would not have
to arrange the removals of your possessions, uproot your lives and
move to an area you may not like as much.
Renting
your property back - an alternative to equity release scheme
Many
companies offer equity release schemes these days but is it really
the best option for you? An alternative is to sell your home and rent
it back, with the option of buying it back at a pre-agreed price
within a certain time-frame.
Sell
your home and rent it back could provide you with a greater
amount of flexibility than an Equity Release Scheme which when
signed, is set in stone.