Property Rescue Blog

Insurance is one of those areas where it seems people are only too ready to stick their heads in the sand and adopt the ‘it’ll never happen to me’ attitude.  It’s not hard to see why this happens; for a start there are few of us who enjoy dwelling on the potential disaster that may or may not be around the corner, and in any case if money is tight insurance is often the first item of expenditure to be sacrificed.

One area of insurance that is particularly neglected is that of income protection, which provides cover should you not be able to meet your mortgage repayments due to ill health, disability or accident.  If you are a fit healthy 30-something, the chances that you will become seriously ill are probably remote but what people often fail to think about is that accidents can happen at any age.  It’s easy to think of ourselves as invincible but disaster can and does strike – thankfully rarely – so it makes sense to have a plan in place that will offer some sort of protection for you and your family.

When you are young your mortgage repayments will probably be among the most significant of your monthly outgoings.  If you find yourself unable to pay your mortgage, whatever the cause, you stand the risk of losing your home through repossession.  The number of repossessions is on the increase and mortgage lenders are unlikely to turn a blind eye in a situation where they can see little hope of getting their money back.

If you are already in this situation and you don’t have an insurance policy that will pay out, is there anything you can do?  With Property Rescue there is another option.  They will assess the value of your property and will make you an offer.  This means that you have a guaranteed buyer for your home that will allow you to pay off your debts.  “But where will I live?” I hear you ask!  Using the ‘Rent Back’ scheme, Property Rescue allows you to stay in your own home as a tenant rather than as the owner.  This means you don’t need to relocate, disrupt your family or move away from a neighbourhood that you enjoy.  Although you won’t own your home any longer, you won’t be threatened with eviction whilst you can afford to pay rent and if you think you are likely to be in a position where you can become a home owner again in the future, Property Rescue will give you the option of buying back your property at an agreed date and an agreed price.

Health and wealth are most definitely connected.  Poor health can strike at any time, usually through no fault of the person concerned, and yet it can bring a great deal of suffering to the individual and his or her family.  Don’t let illness or accident threaten your way of life more than it has to. 

Contact Property Rescue today to find out more about their Sell and Rent Back scheme.  Their experts are always pleased to have an informal discussion over the phone and will arrange to visit you and value your home at no obligation.