Debt
Consolidation Vs Sale and Rent Back
Debt consolidation can be a short term fix. Your
level of debt will not be reduced but the term that
you owe your debt will be extended to provide you
with a lower monthly payment however you will find
that your overall cost will be much greater in the
long run. The interest rates that you see on the
headlines are unlikely to be the rate that you
receive unless you have an impeccable credit rating.
If you are a homeowner your home will be used as
security which means that you risk losing your home
if you don't keep up the payments.
Homeowners have another choice. Property prices
have increased significantly over the last few
years, this means that in many cases equity has
built up which you can unlock with the sale and rent
back of your home. By selling your property to an
investor or company such as Rent Back Investments
you will be able to pay off your debts, stay in your
home and possibly have additional cash available to
spend or save. The benefit of a sale and rent back
scheme over
debt consolidation
loans is that your debt is completely cleared and
your credit rating is likely to improve but best of
all you will eliminate the burden of debt and free
yourself from worrying about covering your bills.
When you are considering the sale and rent back
of your home you will probably be asking yourself:
"how much the rent will be and how much will you buy
my house for"?
It is essential that you can afford the monthly
rental payments so this will be discussed with you
and set at a rate that is fair and manageable. The
sales price of your property will be in the region
of 80 to 85% of the open market rate. This however
includes all your legal expenses and HIPs costs and
there are no estate agents fees to pay either which
can mean even greater savings.
We can buy quickly so we can get
funds to you fast.
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