More and more homeowners are expected to make use of rent back schemes amidst reports that the budgets of families are more stretched now than at any other time in the last 50 years. Rent back schemes quickly release equity to tackle debt management issues.
According to a report in the Daily Mail, the financial strife being experienced by families up and down the UK in now so profound that familial budgets are now more stretched than at any other time since 1958. This, of course, leaves many families floundering in debt and many will regard a rent back scheme as the most attractive solution to their problematic situation. A rent back scheme is a favoured choice amongst homeowners for a multitude of reasons, not least that they represent a guaranteed cash offer on any property, in any location, but also the fact that most rent back proposals can be completed in as little as 24 to 48 hours. Given the current state of the property market, it isn't difficult to see why rent back schemes are being increasingly utilised. Of course, in addition to this, a rent back scheme will give homeowners the breathing space they require to see what they want to do next by permitting them to continue renting the property for as long as they need to.
Rent Back – Overcoming Financial Difficulties
It goes without saying that is extremely difficult for thousands of families to make ends meet in light of the credit crunch and, according to the report in the Daily Mail, the amounts that families saved in the first three months of the year fell for the first time since 1958 with soaring mortgage and energy costs the most culpable. With this in mind, many homeowners are deciding to release the equity in their homes through rent back schemes. The principle benefit of rent back schemes is the fact that you can continue to rent the property after the sale has been completed and this is an extremely attractive proposition for most homeowners as, generally speaking, people want that breathing space to decide how best to proceed and a rent back scheme means that they don't have to fret about finding a new home and can instead focus on getting their finances back on track.
Rent Back – There may be Trouble Ahead
Many homeowners are looking at the economic climate and have considerable concerns about their financial futures, with plenty of justification. As such, many will utilise a rent back scheme in order to release the equity from their homes and provide themselves with a sense of financial stability. This may well be a prudent move and, speaking to the Daily Mail, financial expert, Paul Dales, states, “We continue to think that the UK economy is poised for a recession and a prolonged period of weak activity as the excesses of the last decade unwind dramatically.
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.
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