IMPORTANT! Since July 2009 any company offering sale and rent back MUST be registered with the Financial Services Authority (FSA). Do not respond to any
advertisements or inducements to sell your home and rent it back unless the buyer shows proof of registration. Penalties can include fines and imprisonment for those NOT registered with the FSA for sale and rent back.
Sell and rent back schemes involve selling your home (usually to a cash buyer) and then renting it back
from this buyer.
There are pros and cons with sell and rent back.
Selling and renting back can allow you to repay your mortgage lender and any secured loans. With current high interest rates
the cost of renting can be signifcantly cheaper than mortgage costs, especially for those with arrears. However, you should always look
at the alternative of selling via an estate agent and renting privately.
Key Points To Remember
You will no longer own your home
You will be subject to a standard tenancy agreement
Contrary to some press reports you WILL have the same rights as renting on the open market
You will be able to avoid repossession which leaves a footprint on your credit file and can affect your ability to get a mortgage in the future.
How to sell & rent back safely
What Are My Options?
You can pay off your arrears at any stage. You can ask the court to make an order to pay off your arrears in monthly instalments.
You can allow your lender to repossess, but you will need to find other accomodation and can be pursued for up to 12 years if
your lender sells your home for less than you owe.
You Can Stop Repossession Now
By any of the lenders listed below - Act now - Contact Us
