The news that properties are left on the market for longer means more people who are desperate to sell might consider a rent back scheme instead.

Rent back schemes may seem like a more attractive alternative to those homeowners who are being forced to consider selling because of financial difficulties. Rent back schemes allow families to stay in their own homes by offering a fast house sale with a rental option. It side steps the need and expense of moving home or buying another property. Rent back schemes are also a way of accessing much needed equity without having to wait months on end for a buyer to come along.

Rent Back During Stagnating Sales

Stagnating sales are forcing homeowners to make different decisions about their property. Some who need cash fast and can't afford to wait for a buyer may turn to a sell house fast for cash scheme with a rent back option. Others are becoming landlords themselves as they rent out their old homes, freeing them up to move. It now takes over 90 days to find a buyer according to a leading property website – and even once the first buyer bites, there are all the usual unknowns and risks such as chains falling through or buyers pulling out. Rent back schemes suit those who don't want to move from their properties yet, but do want to access the equity in their homes.

Rent Back Schemes: Managing the Short Term

More properties are gathering dust on the property market, with some harder to sell than others. Property transactions are at an all time low and the crash in consumer confidence means more properties could end up stagnating for even longer in the months to come. In England there are currently an estimated 54% of properties that have been on the market for 90 days and are still unsold, that percentage shoots up to 64% in Wales. Rent back schemes may be a more viable way of managing in the short term.
Although the government has announced some measures to help the housing market - so far it has lifted stamp duty so it only impacts on property prices over £175,000 to encourage buyers. But this does little to help those stuck with high mortgage repayments facing the repossession risk, or whose homes are over the £175,000 threshold.

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.