Rent back schemes have never been so in demand as the housing market goes from bad to worse.
Rent back schemes have kicked up some controversy. Some believe the rent back schemes exploit homeowners who feel they are in a financial rut. But rent back schemes continue to be attractive alternatives to the threat of repossession. And now rent back schemes are not only appealing to those whose backs are up against the financial wall, rent back schemes offer get out of jail cards to homeowners who are desperate to sell their homes, but are unable to find a buyer.
Rent Back, Move On
As research shows, more homeowners are forced into renting as they are unable to sell their homes. The lucky ones who are not relying on releasing the equity in their homes, or who aren't desperate for a fast cash sale don't have to turn to rent back schemes; instead they are turning into 'accidental landlords'. The phenomenon of accidental landlords is the result of families or homeowners who have to move or relocate but can't find a buyer during the credit crunch, and so wind up letting their homes.
Rent Back to pay Debt
But increasingly, the reason why more homeowners have to sell is because of financial difficulties. The credit crunch has made homeownership increasingly expensive with very little return on the high investment. Rent back schemes may seem attractive to people whose utility bills, food costs and general day-to-day living expense has become unmanageable as their wages haven't risen with the high cost of living.
Rent Back – Can't find a Buyer
Rent back schemes can offer solutions in two-ways, rent back schemes mean they have an instant buyer who will buy their home at up to 80% the market value of the property. This is preferable for those who need financial results now, and not in one year, two years or five years – or whenever the housing market is expected to lift. Rent back schemes also allow families to stay in the comfort and familiarity of their own homes as tenants, buying them the time and space they need to decide what to do next.
Rent Back – Breathing Space
As the credit crunch continues to impact heavily on homeowners, rent back schemes could be the breathing space necessary for some families who need immediate financial solutions, but haven't decided on their mid-term or long-term plan of action. More people are using rent back schemes as temporary steps before investigating moving abroad or emigrating for example, the money released from the rent back scheme can help fund a move and buy you time to sort out visas, jobs and the other logistics involved in moving abroad.
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.
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