Sell and Rent Back - Some Illustrations
There are numerous advantages to using Rent Back Expert’s Sell and Rent Back service. For each person and each situation those advantages will be different, so perhaps the best way of explaining them is to provide you with some illustrations:
Repossession Stopped in its Tracks
Mr and Mrs J were facing the threat of repossession. Mr J had been made redundant and although he had eventually managed to get another job, he had been forced to use his redundancy to live on whilst he was out of work. His new salary was far lower than he had been used to; over time the family ran up debts and now they were facing the threat of having their home repossessed.
Mrs J had become depressed and anxious because of the financial difficulties and the thought that they would lose their home. Two of the three children were at local schools and neither parent wanted to disrupt their education by moving to a part of the country where houses were cheaper. Mrs J’s mother lived nearby and provided an important source of childcare to the family, allowing Mrs J to do a part time job in between caring for the 3 year old and the rest of the family.
Repossession orders had been served when Mr J first contacted Rent Back Experts. Despite this, an offer was made for the home and the sale completed in just a few days. The mortgage was paid up, other debts that had been secured on the home were settled, and the family became tenants in their own home. They asked Rent Back Experts to give them the opportunity to buy back their home in the future as they are hopeful that their current difficulties will be temporary. Since then, Mr J has got a better job and the family are looking forward to becoming homeowners again soon.
Sudden Financial Crisis
Being widowed at the age of just 39 was not what Mrs E had expected from life. Her husband died suddenly of a heart attack, leaving Mrs E to cope with two school aged children and a big mortgage. It didn’t take long for Mrs E to realise that the money coming in simply wouldn’t pay all the bills. There was a small amount of life insurance on her husband which Mrs E invested for the children’s education, but day to day life was becoming hard.
Selling the family home to Rent Back Experts provided the perfect solution. Mrs E can afford to pay the rent from her own earnings, and she can claim other benefits to help with regular bills such as council tax. Life still isn’t easy, but the worry of not being able to pay the mortgage has been lifted. Mrs E’s credit rating has remained intact because she never had to go into debt; the children are in the same schools, and Mrs E herself is still surrounded by the support of her family and friends who live nearby.
Retirement Lifestyle
As retirement approached, Mr and Mrs M started to think about how their financial circumstances would change when they both gave up work. Both in their 60s but still extremely active, they enjoyed adventure holidays, the most recent of which had been trekking in the Himalayas, and didn’t want to give up the lifestyle which they loved so much.
Their calculations showed that their pension income wouldn’t be sufficient to allow them to continue with their love of travel. To make matters worse, they had always promised they would help their son pay the cost of private education for their two grandchildren, but their pension was not going to generate as much income as they had expected and there was no way that their finances would stretch to meet that promise. Mrs M didn’t want to downsize and leave the family home where the children had grown up, nor forsake the garden she had lovingly tended over 23 years. Using the Sell and Rent Back service from Rent Back Experts gave the couple a large sum of money from the equity in their home. They have invested this money and use the interest from it to pay for travel and other expenses. They are able to help provide education for their grandchildren as they had planned, but can stay in the home they love so much. They feel that they might downsize in the future and become home owners again, but whilst they are fit and active Rent Back Experts has allowed them to have sufficient funds to enjoy life to the full.
Rent Back Experts has helped hundreds of people raise funds, stop repossession or stay in their home in times of financial crisis. They can help you too. Simply call on 08000 255 100 or email info@rent-back-experts.com
