How Sell And Rent Back Property Works? When you contact the rent back company, one of the company local representatives will call you within 1 working day. They will need to know about your future plans and why you are considering this sell and rent back property scheme. They would need to know things like, how much you think your house is worth, are there any secured debts against the property and if so how much you are currently paying servicing those debts and how much you can realistically pay in rent.

The rent back company will then go away to do a little research on your property and the area it is in and come back with an offer for your house. They will also tell you how much you would have to pay in rent. If you then want to go ahead they get an independent surveyor to check that your house is worth the amount discussed.

Once this is confirmed the rent back company will instruct a solicitor to act on your behalf, should you need us to do so, in order to complete the house purchase. The rent back company will cover the cost of this. Before the sale goes through they will ask that you sign a tenancy agreement which will give you the right to stay in the house after completion.

The Pro’s and Con’s The benefits of this sell and rent back property scheme are: * You may be better off paying rent rather than servicing your debts. * You are no longer tied to your property. * You are free from property maintenance (the roof leaking, the boiler breaking down are now up to us to fix rather than you). * You can remain in your property. * You may now have cash in your bank rather than tied up in your house. * You can move out of your property when you wish and not have to wait to sell on the open market.

All costs are covered by the rent back company. The downsides are: The property no longer belongs to you (if this concerns you please see the other schemes). You will be offered a "trade" price for your property.