Whether you have serious money worries that you need to sort out now, or you've had enough of being a homeowner and want to get rid of the responsibility of being a mortgage-holder, deciding to rent back your property could be the best decision you can make for you and your family.
Why rent back can work for you
Renting back your home after you've sold it is a relatively new option in the property marketplace. Aimed at people who need or want to sell their houses, but don't want the hassle, stress and cost of moving out, rent back options give you the best of both worlds; cash from selling your house, and security from staying put. Studies have shown that forced moves from the family home, such as those that happen because of divorce, bereavement or repossession can generate long term physical and mental health problems for both children and adults, so it's not difficult to see why rent back is becoming an increasingly popular choice.
How rent back works
Rent back is a simple scheme that's operated by hundreds of companies across the UK, in a variety of forms. Essentially, you sell your home to a buyer who then becomes your landlord. This buyer may be a property company, a property developer or a landlord. If you want to rent back, and your new landlord is agreeable, you can work out a tenancy agreement before the sale goes through. Just like you would ask a solicitor to check the sales documentation, you should also make sure you are happy with the tenancy agreement – particularly as far as notice periods are concerned, as well as the rights and responsibilities of both parties. Your rent should be at the local market rate for a property of your type, so it might be worth doing a little research into what you should be paying.
Rent back is easy to organise and spares you the worry of finding somewhere else to buy at short notice.
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