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Sell your property and rent back - the hidden truth

sell property rent back

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.

sell property rent back

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 for purpose"?

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.

sell property rent back

Helping you cope with whatever life throws at you..

Life is unpredictable. Splitting up with partners, ill-health - physical or mental, family crisis..

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.

sell property rent back

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.

sell property rent back

Money worries - reducing your outgoings

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..

sell property rent back

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.



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