Expensive utility bills and stagnating incomes are making it difficult for families to stay financially afloat, according to the Centre for Policy Studies. Is a rent back scheme the answer?
Rent back schemes may be a priority for more families as their finances are stretched beyond their limits. Home ownership has never been so costly – not just with mortgage repayments on over inflated property prices – but because of rising utility bills and taxes. A rent back scheme is even more attractive when you consider salaries simply aren't keeping up with the rising cost of living. Difficult debt could mean your family simply can't afford an annual holiday, to run a car, or cope with any costly events such as an anniversary, wedding or even Christmas. A rent back scheme will free up your finances allowing you to live more freely.
Rent back – Escape excessive debt
Taxes and bills are rising faster than incomes according to the think thank, the Centre for Policy Studies, with the average home paying £7,800 a year more tax than when Labour took power. It may blame party politics, but there's no escaping the impact of the global credit crunch. Rent back schemes are increasingly an attractive alternative to the ‘excessive' debt households now struggle with.
Why do we feel so broke?
The report confirms how many homeowners feel – it's called, ‘Why Do We Feel So Broke?' It concludes that the average family is unable to absorb the increasing tax and utility bills as salaries are not rising to meet the expense and more of us struggle with greater amounts of personal debt. A rent back scheme offers some families the option to stay in their homes and take positive steps to solving this financial rut.
Rent back for family stability
The family home is important for emotional as well as physical stability and comfort, so it's not surprising that many families who feel forced to sell up are opting for a rent back scheme. The rent back scheme offers the continuation and stability of their home and community – something especially important for young children.
Repossession risk prompts rent back option
According to the report, families have less disposable income – average earning families have seen disposable income fall by £950 since 2002. The report said the past decade of easy credit, high mortgages and the dominance of personal loans and overdrafts, combined with the increase in the cost of living is a "toxic" mix.
As the economy threatens to continue on its downward trajectory, a rent back scheme may be the only option left for those families who are looking repossession risks in the face.
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