Sell and rent back can help many according to National Homebuyers

Sell and rent back schemes can genuinely help people who are in financial difficulties

[UKPRwire, Fri Dec 28 2007] That is according to the Repossessions Advice Centre (RAC), which points out that people can save thousands of pounds this way.

With the global credit crunch forcing mortgage rates up for many people, sell and rent back schemes can help homeowners to avoid repossession.

The Council of Mortgage Lenders (CML) recently forecast that repossessions will increase by 50 per cent in 2008 but the RAC said that people who are struggling with financial difficulties could benefit from entering into a sell and rent back scheme.

"There are some good, viable schemes out there which genuinely do help people," revealed Paul Fletcher, director of the RAC.

"If it makes you £4,000, £5,000 a year better off because your monthly repayment values have gone down, that's what you've gained back on that loss of equity," he continued.

The leading Sell and Rent Back provider National Homebuyers says this mortgage rescue scheme is attractive to anyone. "We launched the service as an alternative to Equity Release" says director Chris Newman.

"Over the last few years, it has become apparent that this is a lifesaver for many homeowners with affordability worries.

"Remaining in your home, while having the equity in your pocket is a very attractive option" adds Mr Newman.

Chris Newman is a director of National Homebuyers, the UK's leading fast property purchase firm, guaranteeing to make an offer on any property in the UK, regardless of its condition or location for vendors who need a quick sale.

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