Getting Repossessed? Want to Stay in Your House? Sell and Rent Back Schemes are a New.

If you are getting repossessed and you want to stay in your house their solutions already available in the UK market place, in order to address the growing problem in the face of the credit crunch which is sweeping the nation a collection of small company’s are emerging that are able to offer “Sell & Rent Back Schemes”

These schemes not only allow the individual or family concerned to sell their house quickly and stop the eviction taking place but also allows them to stay I their house as a tenant. It is not unusual for these kind of deals to offer the ability to be able to buy back the house at a later stage if your financial position improves this can be useful for those that would relay like to keep their house as if an eviction and repossession tool place it would otherwise be sold at auction and there are no guarantees the new owners would want to sell.

The other benefit of this scheme is the fact that it allows you to clear all your debts with the lender, although you will be selling your house for an agreed percentage of market value the nature of these deal mean this would include clearing all the outstanding debts with the lender which could consist of the outstanding mortgage amount, any secured loans you may have against the property as well as things like mortgage arrears, this gives you a clean slate as the alternative of your property being sold at auction would mean that if the amount it was sold for was less that these debts combined the lenders would still press legal action and chase you for the remainder of the debt.

These deals are also effective at stopping an eviction from taking place as your will find your lenders willing to co-operate with you on such a deal as it means that they can get their repayment in full with out going through the expensive process outlined above.

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Sell and Rent Back