As the credit crunch hits home, mortgages are become pricier than ever as property prices slump – a rent and sale scheme could offer a way out.
The rent and sale scheme offers an escape route for homeowners hit by the credit crunch. Those most at financial risk are over one million homeowners who over borrowed to get on the property ladder. Any homeowner who has a mortgage worth 90% plus of the value of their home or who took out a mortgage worth three and half times their salary (or more) could be vulnerable, according to the Council for Mortgage Lenders. A rent and sale scheme offers homeowners who are struggling with debt or facing repossession the opportunity to sell their homes fast for cash, and rent them back at a fair monthly rent, so they don't' have the stress of moving.
Rent and Sale – waking up to the renting solution
The British Property Federation has called on the government to ‘wake up' to the need to concentrate on the rented sector as a solution to the housing crisis. Between 2000 and 2006, home ownership shot up in the UK, but now there are thousands of property owners who are struggling to keep up with their mortgage. 2007 was the year the property slowdown began, and as thousands faced increased household bills as their fixed mortgage rates came to an end, many realised home ownership simply wasn't the guaranteed financial nest egg they'd hoped for. A rent and sale scheme can be a more financially viable way of releasing equity in your home to sort out your finances so you can have firmer ground to stand on during the shaky economic downturn in 2008.
Rescue your finances with a rent and sale scheme
Homeless charity, Shelter, has expressed concerns for the homeowners facing financial difficulties and who are vulnerable to losing their homes as a result of debt. A rent and sale scheme can stop house repossession in its tracks if you need to sell fast. Shelter has seen a record number of people contacting them about mortgage worries in 2007. As leading banks crack down on credit by cancelling credit cards or limiting credit, as well as raising their tracker rates to cope with the economic hardships ahead, the government's reduction of interest rates may not make a difference. Many banks are simply passing the risk and a cost onto their customers - being in debt has never been so pricey. Or so risky.
Rent and Sale with rentandsaleltd.co.uk
If you're caught in a financial house-trap, rentandsaleltd.co.uk can throw you a life-line. Rentandsaleltd.co.uk offers a sell and rent back scheme for those who like living where they are and want to maintain stability but are facing mortgage arrears, repossession, bankruptcy and debt or concerned financial meltdown is looming. The rent and sale scheme is an alternative to selling up and moving, allowing you to stay put and find financial solutions. Rentandsaleltd.co.uk will buy your home and allow you to continue living in it as a tenant. Find out more, call Rent and Sale Ltd. today on: 0800 1313 999