Sell And Rent Back Schemes May Be An Option For Home Owners Who Were Mis-Sold Their Mortgage

Sell and rent back schemes are bailing a raft of struggling home owners out of financial misery. The sell and rent back scheme involves a property investment specialist buying the house in question outright, usually for a discounted price of around 10 - 15 per cent below the market value of the house. It means home owners can get a quick cash sale instead of falling into deeper debt or risking house repossession by waiting for a buyer on the open market.

But as a recent report by BBC News reveals, many people are victims of the housing market. Some home owners are being pushed into sell and rent back schemes as a result of being poorly sold an inappropriate mortgage. Those who took out mortgages that were simply beyond their affordability, or pushing their affordability to the limit, are now vulnerable to sell and rent back schemes.