If the credit crunch means you can't afford to retire, but failing health or emotional well being means you need to, a rent back scheme offers a short term option.

We have all been told we will have to work longer as we grow older to cope with the pension crisis. But for those who are due to retire now, the credit crunch has put even more pressure on them to keep working for longer. Rent back schemes could be a way of staying in your own home but releasing equity and finances so you can afford to retire. Depending on how much equity you have in your home, a rent back scheme could buy you time. Rent back schemes are not suitable however if you have little equity and need to find finances to fund years of retirement.

Rent Back and Buy Time

For those who have to retire because they have no choice, a rent back scheme could free up some time before looking to downsize, rent permanently or retire abroad. Rent back schemes work for people who want to find flexibility and don't want to be tied down to a mortgage. A rent back scheme could be a flexible way of buying time if you want to plan a retirement abroad for example. If a hefty mortgage is holding back your retirement plans, a rent back schemes could free you from the burden.

Rent Back and Move Abroad

Moving abroad takes time and energy to sort out, as well as extensive research. A rent back scheme will allow you to stay in the comfort of your own home indefinitely, allowing you to travel to places of interest so you can research and explore the options abroad. It will also free up the cash you might need to make the move. Before opting for a rent back scheme you should ensure the scheme will cover your financial needs in your retirement. Many people can't afford to stop working with one in three people putting off retirement amid the economic instability – 31% of people are asking to carry on working beyond retirement age, compared to 22% last year. The downturn in the housing market is being considered as one of the major factors in their decision to continue work. But for those that want to enjoy their retirement, or don't see putting it off till 2010 when the economy is expected to recover, a rent back scheme could be an option.

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.