Sell and Rent Back your home
What is Sell and Rent Back?
RepayMortgage will arrange to buy and rent back your property. This is a solution ideally suited to those who want to sell their house, flat or other property to repay the mortgage and any debts, and then rent the property back.
How long can I rent the property back for?
The property will be rented back to you under a tenancy agreement, if required this can be for a few months or many years. Every case is individual, some people will only want to rent for the short to medium term, possibly with the view to taking on a mortgage at a later date. Some buyers may try and evict tenants shortly after providing a rental agreement. As an extra assurance we can provide you with a compensation backed guarantee for up to 5 years of tenancy.
Will the rent be cheaper than my current mortgage?
We will rent the property back to you at a fair market rate and sometimes below market rates depending on the individual situation. In some cases we can even offer a rent back option with a period of zero or reduced rent. Each person’s situation is different, so our objective is to find a solution tailored to your specific needs and circumstances.
Do you provide an option to buy the property back at a later date?
Yes. This is an attractive option for people who have temporary financial difficulties, such as a period of unemployment. We can make arrangements for you to rent the property and then have an option to buy the property back at a later date. Often we find people wanting to rent back for 3 years with an option to buy back the property at any time within that 3 year period. Whatever your requirements we will try and find a solution to match.
What are your fees for the sell and rent back option?
We do not charge any fees, we pay all reasonable solicitors costs and valuation fees to buy and rent back your property. We will agree a price with you for purchasing your property, at a discount to the current market value. You are under no obligation to accept our offer and we will not levy any fees should to decline to accept. The only time fees would be incurred is if you decide to pull out from the sale after you have signed an agreement form and solicitors have been instructed.
What happens if I have a poor credit rating ?
Your credit rating will not affect selling and then renting back your home. It is quite normal for people to be in arrears with mortgage and loan repayments prior to contacting us. So be assured that with RepayMortgage.co.uk your credit rating will will not affect your ability to rent back your property.
Do I need a solicitor?
Yes, you will need to have an independent solicitor acting on your behalf. We can recommend one for you but most of our clients select their own solicitor in the locality of where they live.
Call RepayMortgage now on 0800 8600 285 for your NO OBLIGATION valuation and review to Sell and Rent Back your house, flat or other property.
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