Latest figures show that the UK is facing a mortgage slowdown, if you want to avoid the slowdown, you can opt for a rent back scheme.
News reports have been accumulating in the UK press since mid-2007, debating and predicting whether or not we will see a property slump as a direct result of the global credit crunch. In the States, the sub-prime property market resulted in thousands of people losing their homes and having to rent back instead. The bottom literally fell out of the market as years of easy credit took its toll. And many experts believed the same thing would happen in the UK later down the line – with more homeowners opting for a sell house, rent back scheme to avoid the very real risk of repossession.
Rent back – the cheaper option
And lending figures in the UK at the end of 2007 gave homeowners further evidence that a rent back scheme could be economically viable. The British Bankers' Association revealed that the value of mortgages taken out in November 2007 was 40% lower than in the same period in 2006. The mortgage slowdown points to fewer buyers – leaving those who need to sell their house fast in a potential fix. A fast house sale, rent back scheme however could provide the solution.
Rent back makes financial sense
The slowdown in November is a continuation of a record low in mortgages in October – the low volume means borrowing has dropped by almost £4.8bn according to a report in the Guardian newspaper. The combined factors of falling house prices and fewer lenders results in a much slower market. If you're one of the millions struggling to pay off your credit card, or concerned that debt is taking an unmanageable turn on your finances, a fast house sale rent back scheme could make financial sense.
Can't get a loan? Sell and rent back
If you're eager to sell, lower demand and tighter supply of loans means you may be stuck on the property market indefinitely. For some facing financial difficulties, or who have very real concerns about the risk of repossession, a sell house rent back scheme may be the only viable route. As mortgage rates rise, council tax increases, utility bills become more expensive and the cost of food raises 4%, consumers are cutting down on unsecured borrowing. If you're already in financial difficulty however, a rent back scheme could release the cash you need.
Rent Back with rentbackltd.co.uk
If you're caught in a financial house-trap, rentbackltd.co.uk can throw you a life-line. Rentbackltd.co.uk offers a sell and rent back scheme for those who like living where they are and want to maintain stability but are facing mortgage arrears, repossession, bankruptcy and debt or concerned financial meltdown is looming. The rent and sale scheme is an alternative to selling up and moving, allowing you to stay put and find financial solutions. Rentbackltd.co.uk will buy your home and allow you to continue living in it as a tenant. Find out more, call Rent Back Ltd. today on: 08000 255 027