Rent Back – Recession Fears Hit Home

Rent back schemes appeal to hard-hit homeowners as recession fears hit home.

The sell house, rent back industry is offering a lifeline for many people in heartbreaking situations. The rent back schemes were in fact hailed by The Telegraph newspaper as offering a service that's both “ethical and profitable”. Choosing a reputable rent back scheme can allow families and couples stay in their family home. In some cases, families have been in their property for over 30 years, and are desperate to hang on to a house full of memories. But financial pressures could mean they have no choice but to look at selling, or face the risk of repossession and debt. Rent back schemes can buy your home for between 75-85% of its market value, allowing you to stay on as a tenant. Rent back schemes can be perfect solutions.

Rent Back as Recession Fears Strike

And as more of the UK begins to feel a recession breathing down their necks, rent back schemes are set to become increasingly popular. The British Retail Consortium reports on a fall in consumer confidence, Director General Stephen Robertson told BBC News: “With one in five people saying they have no spare cash - the highest ever recorded by this survey - customers are telling us they are cutting back on spending...It's clear we are seeing the effects of customers' concerns about the future and about their own levels of debt.”

Rent Back Schemes – Stay Put, Save Money

The reality however is more people are turning to credit cards, overdrafts and loans to pay for essentials such as utility bills, mortgage payments and food. A rent back scheme is one way of breaking the downward spiral of debt many are now trapped in. Rent back schemes offer the comfort and continuation of staying in the family home, something that is particularly important for homeowners struggling with ill-health or stress because of money worries. Stability and a sense of home offer a psychological and emotional grounding.

Mortgage Misery Fuels Rent Back Industry

As more people are feeling the rising utility, food and fuel bills hitting their pay packet, with a property downturn continuing, it's no wonder more are turning to rent back schemes as Britain falls out of love with the property dream. For some home ownership has turned from a safe investment to a financial nightmare, with some homes already in negative equity.

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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