What are the other options?

If your property is currently worth £100,000 and you don’t want to give an average of 30% i.e. £30,000 away, to a sell-and-rent-back company, then you need to look at all the other options. We have tried to give you as much detailed advice, in the following information below, to try and help. We hope it is helpful.

Put your property on the market at a realistic price, taking note of our realistic advice, with a good reputable agent and test it for at least two weeks. If you get any offers, make sure the people are serious and make sure you understand if they have a property to sell or not, because being caught in a chain of sales can lead to more problems and this doesn’t give you a quick sale. Ideally you would be looking for a first time buyer, that is eager to move i.e. someone that is in rented accommodation that has either given or been given notice and they have to move.

Have you tried selling your property the conventional way and had no offers, if that is the case and you must sell your property, we would advise you to look at our ‘estate agent’ section. Hopefully you will find it interesting information, which will be able to help you find the right agent, put the property on the market at the right price, get an honest opinion on what you need to do to your property (to make it saleable), understand what offers you will receive in advance, what the market is like in your local area and give you some back ground information into how estate agents think and work.

After trying all of the above, then you just might have to except the fact that it is not possible for you to sell your property, at this point of time. You can keep trying, but our advice is that if you haven’t sold your property in the maximum of, 3 to 4 months, then you should take the property off the market, because the property will start to look stale and may get a bad reputation for all the wrong reasons.

If you need to sell the property because your debts are increasing out of control i.e. your outgoings are more than your income, then you need to do something about it straight away. Your best solution is to try and speak to a financial adviser. The financial market changes on a daily basis and it is important to find a knowledgeable advisor that stays in touch not only with the financial market but you as well, making sure that they are always looking for the right solution for you. Please read our section about financial advisers, which explains to you what a financial advisor should be doing for you and their view on how the market has changed and how it is changing now. It is so important that you have someone on you side who understands the truth about your situation. (Honestly don’t hide a thing about your financial situation).

We also advise that you speak to your mortgage lender and explain your situation in full to them. They may well just have the right solution you are looking for and please remember that they like people to come forward. They will respect you for that and in turn trust you more, than if you don’t and just keep ignoring their letters, because for all they know, you could have moved out. They will send someone out to visit the property and it is more cost and mistrust between you and your mortgage company. They might be able to delay repayments, to give you time to try to sell.

But if you are stuck in a position where you have no choice, because the property is about to get repossessed, you can try your best to find a solution. We are sorry to say it, because if you have been reading all the above, I know you don’t want to ideally sell and rent back your home, but if you don’t have a choice, you are welcome to call us and see what we offer, you never know, you might just be pleasantly surprised!