Sell your property and rent
back. The stereotypical view of the homeowner thinking about
the possibility of a sell and rent back arrangement is of someone who is
laden with debt. It's true that some people do turn to a rent
back arrangement to clear debts. But in most instances you have to look
deeper to find the hidden truth.
It's our experience life throws up
knotty problems. And just like buses, it seems that when problems
do arrive, they rarely turn up on their own!
This makes life complicated. And sometimes pressurised. The sell your property
and rent back
solution can be just the fix for some people, in some
situations facing the prospect of dealing with one, two or more
"issues". It's often a combination of circumstances that lead
people to make the decision to rent back property.
Deciding to sell your property and rent
back can provide stability for your family, allow you to live debt-free or
tap into unused equity.
The question is. For your given
situation is the decision to sell your property and rent back "fit
People who want to sell their house to
rent back are often trying to deal with some combination of a
change of personal circumstances, reducing their outgoings or have a
need to release equity. We understand this.
Helping you cope with whatever life throws at
Life is unpredictable.
Splitting up with partners, ill-health - physical or mental, family
Particularly if you have young children
or children visiting regularly, or a house full of pets, it can make more sense to stay put. If
local house prices have risen since you originally bought the property
you can end up with cash in your hand and remain in your home.
Of course, you're unlikely to have
planned to sell your property and rent back, but it can provide
stability under difficult circumstances.
Getting your hands on your equity
If you've owned your house for some
years chances are you'll have built-up considerable equity - without the
means to readily access it unless you take a further advance on your
mortgage or re-mortgage. This usually means higher outgoings. And with
mortgages harder to come by, being able to get further advances or a new
deal is by no means a given.
But with interest rates now higher it
can make more sense to put your money in the bank. Or simply enjoy it.
What would you do with the money? Clients with large amounts of
equity often bank it and use the interest generated to pay the rent.
Everyone's a winner.
Opting to sell property and rent
it back can provide the answer. More often than not selling your property
to rent it back will work out better value than traditional equity
release schemes offered by banks. What's more we'll consider your
application regardless of your age or house value.
Money worries - reducing your
Unfavourable mortgage terms, climbing
interest rates, mortgage arrears, secured loans, personal loans and
credit card bills can send your monthly outgoings spiralling upwards.
Deciding to sell property and rent back
can clear these off in one go and reduce your monthly
expenditure at the same time.
Of course it's not always possible to
completely wipe the slate clean. Opting to sell your property and
rent back can make a considerable dent in your monthly outgoings.
However, don't ignore the debt you've built up which is not secured
on your home. The good news is that credit card companies can be very
reasonable if asked to come to some form of payment plan..
What's on your mind?
Each client comes to us with highly
individual needs. We'll never pigeon-hole you. But whether the sell your property and
rent back option will be financially attractive to you is difficult to
predict in advance. Whenever possible we'll give you a number of
options to consider. Renting back property isn't a cure-all solution for
everyone, but might help you get your life back onto an even keel.