Should you sell and rent back your home?

There are always questions in life. Ask yourself is the ‘rent-back solution’ the solution for you, well before you actually rent-back your home. You will basically be selling your property to a company, at a discounted price, and then renting the property back from them at market rent.

The fact is that, you will be selling your home for less than the property is worth on the open market. There are many advantages to the rent-back scheme; it may seem attractive to someone that has debts, or people that don’t want to worry about things like interest rates increasing or decreasing, property prices fluctuating and unexpected property maintenance costs. By choosing the rent-back scheme it places people in a position where all they have to do, is pay their rent. After releasing all their equity from their home, it leaves people in a much better financial position. The main reason why people choose a scheme like this is because, a lot of companies say that they can complete within 7 days and that people don’t have to tell their friends and family or even their neighbors and can live in the property for as long as they want.

You must be 100% sure that you are dealing with a reputable company. One of the first questions you need to ask, at the first point of contact is: “are you a call center?” If they are, it is always a very bad sign, because this basically confirms that, the company is probably unprofessional and untrustworthy. The most important thing of all, you should never deal with any company, in any form of business at any time, if they don’t have an address on their website. It is clear a sign that this company is hiding something and is known as, what we call ‘back street business’, why would you deal with a company that you can’t find or simply visit if you should ever wish to do so. When it comes to telephone numbers it is very important that the company has a landline telephone number advertised on their contact page or available to you, not just a freephone 0800 number. Because 0800 numbers can be simply be anywhere and are untraceable. Please remember, as in any business, there are always people that are trying to live off other people’s misfortune and are just simply after a quick profit. restrictions to where we purchase property!