If you've taken up a rent back scheme, it's likely that every penny counts during the credit crunch, so why not take up 'freedom living'?

More homeowners have had to give up their mortgages as a result of the struggling property market. For some, the tightening lending criteria, increase in the cost of borrowing and the end of fixed rate terms has spelled disaster. With mortgages going up by up to several hundred pounds a month for some households, they have been forced into a rent back scheme to free up money.

Rent Back Schemes – Coping with the Costs

With mortgages increasing so drastically, it's no wonder more homeowners have considered a rent back scheme or sell house fast option. Rent back schemes appeal to those who feel forced to move for financial reasons but want to stay for emotional or practical ones. And rent back schemes may be a temporary solution while the property market continues to struggle – rent back schemes can release equity wrapped up in a property and you can stay put until you're ready to buy again.

Rent Back as Winter Kicks in

If you have chosen a rent back scheme and you need to reign in your finances, there are other steps you can take to bring down the costs. Budgeting is important as food costs rise and winter is imminent. Fuel costs are escalating and rent back schemes could release the cash you need to you're not left in the difficult position of having to decide whether you can afford to heat your home or not.

'Freedom Living' Explained

Freedom living is a trend that is sweeping parts of society. It isn't just about saving money, it's about sustainability and being resourceful. Ethical and ecological concerns are behind the freedom living movement for some. But for those who are looking into rent back schemes to free up money, freedom living taps into the idea of sustainability. After opting for a rent back scheme, it makes sense to safeguard the money you've made from a fast house sale. Some freedom living techniques include:

• Establishing a baby sitting circle which operates on credit rather than cash – you earn points for sitting for others, which you can then spend when you want to go out without the kids.
• Car sharing is one way of cutting down travel and petrol costs. The typical car sharer saves £1,000 a year.
• Grow your own veg and trade it for other foods – focusing on expensive vegetables such as asparagus or artichokes will give you more trading clout. Blackberry picking, harvesting hedges and fruit picking can lead to jams, pies, soups and pickles.
• Log onto freecycle where people give away and trade household items from TVs to bikes – even going to the local dump can lead to salvaging useful items (always ask permission first).
• Try couchsurfing instead of an expensive holiday – there are websites dedicated to travellers willing to put people up for the night, for free.

Looking for a Sell House, Rent Back Scheme? Speak to Property Rescue

If you need help to get a sell rent back scheme for your property, contact us at Property Rescue. We’re committed to helping you, whatever your circumstances. Property Rescue has helped hundreds of homeowners, rescuing them from desperate situations. With Property Rescue you can rent back with confidence. Call freephone 0800 1313 999 for help today.