For those people requiring a quick sale or wanting to sell and rent back their properties there is now a whole plethora of specialist homebuying and rent back companies to chose from. The problem is that until regulation comes in (which will hopefully be shortly after the FSA have finished their investigation in the practices and best way to regulate the sector) then many unscrupulous companies will be allowed to exist.

This article will outline the steps you can take to stop your home being repossessed. It assumes that notice of eviction has been issued by the court bailiffs giving a date and when eviction will occur. If you are not sure if you are at this stage please contact the national debt helpline.

If you have been given a notice of eviction you may be able to stop this, but you must act quickly.

This report is written for anyone interested in selling their property quickly.

Selling property can be one of the hardest and most stressful things you can do in your life. 90% of people sell through an estate agent so it must offer some advantages. So, should you do the same?

Well, it depends on time pressure you are under. When selling through an estate agent you will normally have to go through these stages:

1.

More and more people are selling and renting back their properties as the option becomes more widely understood and regulated. The 2 main reasons why people chose this option is because either :

(a) they can not afford their mortgage or debt payments so they want to pay off their debts by using the equity in their property without remotgaging or moving out.

If you have missed any payments on your loans you need to check if they are secured or unsecured on your home. If they are secured then they need to be dealt with urgently as the lender has the power to take possession of your property if they are not paid. We are going to discuss secured loans and what to do if you miss these payments.

Contact your lender
The first thing you do is you need to contact your lender to confirm the amount you owe and the steps you intend to take to pay them back.

This document explains the eviction process used to evict homeowners in the UK due to unpaid secured loans. It offers advice on how to prepare for the court hearing and how to deal with lenders.

Firstly it is important to know that your lender can not evict you without a court order. If you have been given a court order by your lender (received in the post) it usually means that other attempts made by you and the lender to overcome the arrears have failed.

Before you chose a Sale and Rent Back company you need to find out the following:

1. How long can I stay?
It is extremely important that you receive confirmation about how long you can stay. If you have no set timeframe and want to stay for the long term it is important that you receive confirmation in writing to this effect. This needs to be in both a letter of intent and the tenancy agreement must include a right to renew clause.

If your property has a high value

It is often difficult to get properties of a high value to work with sale and rent back. A high value in this case is difficult to quantify due to the differences in property prices nationwide but anything over about GBP 250K outside of London may not work as a rent back.

This is due to the fact that the monthly rent for higher valued properties is often low compared to the properties price.

Selling and renting back your home is an extremely important decision so it is essential that you are well informed before you take action. The more information you have the more likely it is that you will make the best decision for you and your family. The aim of this article is to describe 4 factors that you need to consider before you choose a person or company to go with.

This article assumes you understand the sale and rent back process and will discuss 2 scenarios where selling and renting back your property is most likely not the best solution. If you are in these situations it is advisable you look at the alternatives which are suggested.

If you can reduce your monthly outgoings

Some people may find that they can reduce their monthly outgoings by consolidating their debts to a rate that is more affordable.

The majority of residential property sales (90%) are conducted via estate agents. However, this method is not right for everyone and more people are looking at alternatives as they are unhappy with their estate agent or they need a quick property sale.

The problems with Estate Agents
The Office of Fair trading conducted a study of estate agents in response to many complaints about them.