Repossession and the U.K budget announcement

Yesterday’s budget revealed that the U.K. is going to have to borrow a record £175bn, and that higher earners are going to have to be taxed even more to start repaying the enormous debt the U.K has.

The government are saying that we need to spend more, but with unemployment at a record high, people are nervous about spending money. Especially when repossessions are showing no sign of slowing down, and more people are finding themselves in a position, where they are unable to pay their bills due to the fact of they have been made redundant.

More people are being forced from their homes due to repossession, many are turning to sell and rent back companies to try and rescue themselves from being repossessed and stop repossession happening.

By going to sell and rent back companies they are clearing some, if not all of their debts and having money left over. Meaning they can wipe the slate clean and start all over again, but remain living in their home.

Sell and rent back companies are providing a service to all homeowner’s on the verge of being repossessed, and guarantee that you can rent back for life. There are also some companies offering buy back schemes with a deposit.

We advise that you do you home work on the sell and rent back companies before committing to any rent back terms, because like in most trades there are some bad apple’s.