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The current popularity of Sell and Rent Back schemes is just one example of how the housing market is changing in the current economic climate. Sell and Rent Back is a way to sell your home to free up your equity without actually having to move.

Most reputable Sell and Rent back providers will make offers on your home based on previous examples of sales prices of similar properties in your area.

To illustrate how Sell and Rent Back could help you we have drawn up the following examples based on real clients. To protect our clients, in line with our privacy policy and the data protection act, we have omitted full names and addresses from the examples.

Sell and Rent Back Example 1 – Stop Repossession

Mr & Mrs P from Manchester had fallen into arrears with their mortgage due to a job loss. Mr P had been out of work for 7 months and as he had worked for a major bank in a specialist role it seemed unlikely that he would find work in the short term with the banking industry as it was.

His mortgage was 3 months in arrears when his mortgage company applied to the local county court to evict him and repossess the home. After being turned down for a remortgage they took financial advice from a number of sources and decided that the only way they could stay in their home would be to sell to an investor and then rent their home back.

Time was pressing as the eviction date was only 25 days away but fortunately they managed to find a reputable Sell and Rent Back investor who was interested in looking at examples of homes similar to theirs in Manchester. Within 3 days they secured an offer, albeit below market value, with a reduced rent payment, guaranteed for three years to help them get back on their feet.

Sell and Rent Back Example 2 – Release cash to Pay off Debts

Mr J from Bristol was a bachelor who worked in the building trade. Over the past few years he had built up credit card debts in excess of £30,000 which previously he had no problem servicing but when his overtime was cut he started to run into difficulties meeting all his commitments. His total outgoings at this point including his mortgage were almost £1000 per month.

After much soul searching he decided he wanted to live debt free and so he began to talk to two different Sell and Rent Back providers. Mr J was in the fortunate position of having quite a lot of equity in his property and in the end managed to pay off both his mortgage and debts and was left with over £20,000 in cash to move forward with his life.

Sell and Rent Back Example 3 – Sell and Rent Back to release cash due to Divorce

After a brief period of separation Mr and Mrs B from Dover decided that it would be best if they split permanently and divorced. Mr B, who was the main bread winner, found an apartment nearby. Mrs B wanted to stay in the original home to bring up the children with the least of disruption.

After looking at several examples of Sell and Rent Back schemes they eventually found a company who purchased their home with a guaranteed tenancy of 5 years allowing Mrs B to stay in the home until after the children had left school.

The above examples of Sell and Rent Back Schemes illustrate the different reasons people have for choosing to Sell and Rent Back.
To see if a Sell and Rent Back Scheme could suit you please click here to make a no obligation enquiry.

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