Rent back schemes are increasingly popular as debt tightens its grip on UK homeowners. Debt used to be something a small minority struggled with. If you couldn't afford it, once upon a time, you simply did without. But today, debt is not only a way of life; it enables us to afford the high cost of modern life. High mortgages, rising utility bills, and the other demands of living in a materialistic society can leave us scraping the bottoms of our overdrafts and pushing our credit card limits to the max - which is why more homeowners are turning to rent back schemes as a way to release much needed cash, without having to move home.

Banned from credit cards? Rent back!

As credit card provider Egg announced it is to freeze credit cards for 161,000 customers deemed to be too risky, experts warn that other credit card lenders are set to follow. The move by Egg illustrates that the years of easy credit are officially over. For some homeowners, a rent back scheme may be the only solution as they simply can't access the cash they need to meet day-to-day costs. Financial reports suggest more homeowners could be seeking a rent back scheme as:

• One in eight credit card holders have had their limit cut
• Spending limits on credit cards have been cut back by 7%
• One in a hundred credit card owners have had their cards cancelled
• Credit card holders aged between 34 and 39 are most at risk as 17% of this age group have had their credit limit chopped.

Rent back schemes stop house repossession

One report suggests a whopping three and a half million people in the UK could face their credit cards being banned if more financial lenders follow Egg's lead. A rent back scheme for homeowners who rely on their credit cards for every day costs may be the only alternative to mortgage arrears. And for those who have unsecured debts, selling their homes fast and opting for a rent back scheme could be the only way to stop their houses from being repossessed.

Stay afloat with a rent back option

35 million people in Britain have a credit card, and with up to 10% of them being at risk of credit card restrictions, it could spell the beginning of a downward spiral of debt for thousands. A rent back scheme may help those homeowners stay afloat.

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