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Why Sell and Rent Back
Facing the possibility of repossession is extremely stressful. Apart from the financial worries the loss of your home can be traumatic, often resulting in a move away from family or friends and the need to take your children out of their school. Many people jump to the conclusion that their only option is to relinquish their home back to the lender, move out and buy a cheaper property elsewhere or find somewhere to rent.
But it's not always that easy!
Once you have been the subject of a repossession you may find it hard to get another mortgage. Lenders will regard you as a potential ‘high risk’ and may well add a premium to the interest rate you will have to pay. Even a rental agency may carry out credit checks and find that you have defaulted on your mortgage payments in the past, and this knowledge might make them more reluctant to take you on as a tenant.
The sell and rent back option
With Forward Focus Development there is an option; it’s an option that allows you to clear your debts, remain in your home and eliminate the threat of repossession. Positive Equity guarantee to buy your home – no matter where it is or what condition it is in – and, if you accept the offer they make for your property, you can rent it back as a tenant after the sale has gone through. You agree the rent in advance so you know exactly how much you will be paying. Forward Focus Development deal with your mortgage lender and take care of all the legal arrangements too. All you have to do is to sign the necessary paperwork and relax in the knowledge that the threat of repossession has been lifted and you can stay in your home..