Sell and rent back; an ideal solution
A Sale and Rent Back agreement is the process where a property is sold by an owner to a 3rd party in exchange for a cash lump sum. The ex-owner will then continue living in the property as a tenant.
A Sale and Rent Back agreement is ideal for those who want to stay long term in the property but for whatever reason need to raise cash and are excluded from other financial options.
Initially this process was unregulated and unfortunately the market was entered by companies who did not have the ex-owners best interest at heart. Numerous problems occurred and finally in June 2010 the Sale and Rent Back process became fully regulated by the Financial Services Authority (FSA) who regulate all UK Banks and Building Societies etc. This now means that clients entering into a Sale and Rent Back agreement are covered by certain guidelines such as long term tenancy agreements etc.
We act as an introducer only to fully regulated Sale and Rent Back companies. For a full review of your circumstances and to see if you have options other than a Sale and Rent Back agreement please apply by completing the email link to your right.
If you enter into a sale and rent back agreement you are unlikely to get the market value of your home and, as a tenant, may only be able to remain there for a limited period. There may be other options available. Please ask for a key terms statement.