Rent Back – Battling the Bills

Rent back schemes could be the solution for the increasing number of homes creaking under the weight of piling up bills.

As household bills are about to soar, with their biggest rise since the 1980s, more homeowners could be opting for a rent back scheme to stay financially afloat. Rent back schemes have the added bonus of allowing you to stay in your own home. You sell your home to a property rescue company for a small percentage below its market value, so you can release equity to pay off debts and escape expensive mortgage rates. For some, a rent back scheme gives them the financial breathing space they need to face up to escalating bills.

Rent Back – Meeting Rising Costs

Some economists have predicted that energy bills for homeowners will rise above £1,400 a year. Alongside the rise in food, clothing and transport, this hike is too much for some homes to deal with as incomes stagnate. Pay rises are simply not meeting the rising cost of living leaving many worse off in their day-to-day lives. Rent back schemes could offer the financial release needed to help plug the gap between income and expenditure until the economy strengthens.

Rent Back Schemes Increase as Economy Struggles

Analysts say the country is facing its weakest period of economic growth as factories have seen the cost of basic materials jump by nearly 30% this year. Price rises will continue on everything from petrol to washing machines, combined with the fall in house prices, many homes are left with a massive battle to balance their bills. As more homeowners opt for a rent back scheme and consumer confidence continues to take knock after knock, some fear the knock on effects of the increased costs and reduced spending could impact on unemployment figures.

Energy Shortages and Negative Equity Hit Homes

Cheap energy is set to become a thing of the past as rising oil prices and dwindling reserves in the North Sea mean more import costs. Simultaneously banks are withdrawing competitive mortgage products making it impossible for some to remortgage to a more affordable rate. A rent back scheme could be the best solution. More homeowners are opting to leap off the property ladder and rent back until the economy improves. Selling now is one way of safeguarding any equity saved in your home before property prices push many homeowners into negative equity.

If you need help to get a sell house 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.

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