Rising inflation | Sell and Rent Back schemes available

Figures released in March showed the Consumer Prices Index annual rate of inflation had risen to 4.4% from 4% in January, driven by food, fuel and clothing costs. New figures have also been published by the Council of Mortgage Lenders (CML) which shows there was little rise in the amount available to borrowers in February, so those looking to purchase a new home are facing low levels of lending from banks to help them do so. The CML report that it is likely to be a ‘challenging year’ for both consumers and the market as a whole, with little movement in the housing market.

Research from the Money Advice Trust shows that 1.4 million adults sought debt advice last year, with that figure predicted to increase this year, and the general advice to people is to prepare themselves to face changes to their financial circumstances and not to commit to large amounts of credit, as paying off credit cards etc. could see people unable to keep up with their living costs.

If you are a homeowner and you find yourself having difficulties coping financially, with your outgoings more than your income, Rent My House Back has a solution which may help.

You may need to sell your property due to repossession, financial problems etc. but you don’t want the upheaval of moving house. Rent My House Back offer a sell and rent back scheme which can help you clear your mortgage and other secured loans, without the need to leave your home. You simply continue living in your home whilst paying fair market rent.

We know sell and rent back may not suit everyone, but if you would like further information about our services, please contact us for further information.