Could a sell and rent back scheme offer a temporary solution to surviving the recession?
Repossession and recession go hand in hand. The last recession in the UK saw 600,000 homes repossessed when the jobless total reached 2.6 million. And today, the situation looks just as bleak. This time round, home owners are at increased risk of losing their homes. The property boom witnessed years of over inflated property prices, pushing millions into expensive mortgages that were up to five times their salaries. And now, many of those homeowners are the victims of job cuts or slashed salaries. The result? A massive hike in repossessions. Sell and rent back schemes could be a stepping stone.
Surviving the Fall
It's a galling time: all recessions are. Now, just as during the bleak downturn of the early nineties, blameless people find themselves victims of the recession. Schemes such as sell and rent back offer some sense of continuation and stability for those who don't want to be forced into repossession. Safeguarding your family and home is crucial; the pressures of financial meltdown can easily manifest themselves in marriage breakdowns.
Don't Be a Victim: Sell your Home and Rent it Back
It's the feeling of helplessness that is so difficult for those who face redundancy, repossession and debt. These schemes are one way of helping you take control of your situation; repossession isn't the only way. It's important not to blame yourself. It doesn't matter how conscientious you are at work if your company goes bankrupt. It isn't a reflection on your abilities or future prospects. A sell and rent back scheme could be one way of finding a temporary solution until you're back on your feet. It's important to take positive steps that puts you back in the driving seat of your finances and your life. Don't let yourself be cast as a victim. Selling your home and renting it back will allow you to address immediate financial difficulties and stay in your family home, offering a much needed breathing space until you get back into employment or climb out of debt.
Be a Victor not a Victim
If you own a property but simply can't afford to hold onto it, don't let yourself be dragged down into negative equity. Now could be a good time to get off the property ladder. It can be hard finding a buyer in a property slump, which is where dedicated property rescue companies can help. With the help of Create Quick Sale, you do have an option. Renting is often cheaper than a mortgage, without the financial risk. If you love your home, a sell and rent back scheme could be the answer.
Selling and Renting Back with createquicksale.com
Create Quick Sale offers dedicated sell and rent back schemes. We are part of a large group that is also involved in secured finance, property development, asset management, private equity and various other investments. If you're looking for a sell and rent back option, createquicksale.com can help, call 020 8457 3200 to find out more, or email your query to: info@createquicksale.com