It may be time to sell youn house and rent itback as house prices are starting to look shakey. Analysts think this may have cost Mr Brown the next electtion.
First time buyers who took at 100% mortgages could be in for a shock if prices stagnate. Concerns over increased Repossessions in the sub prime market are rising.
Buy to Let gives way to Sell and Rent Back. Repossessions rose 30% on last year, leading to a 22% quarterly rise in the number of properties sold at auction in the second quarter of this year
A BBC investigation has found sub-prime mortgage lenders who give loans to people with bad credit records account for more than 70% of all repossessions.
Information and advice on having your house repossessed and how to prevent it. Sell the house to a property trader who will rent it back to you so you can still live there.
Historically, most people have believed that renting a house was as expensive as buying one but house price inflation has changed that. In 2006, the cost of a private rent was two-thirds the cost of a 100% mortgage on a two or three-bedroom house, for a young household on average incomes
The Council of Mortgage Lenders reported a 6% drop in lending in August, while Rics remarked on a 32% rise in repossessions in the second quarter of 2007. It predicted repossessions could rise by a further 50% to 45,000 in 2008.
Should you sell and rent back your home? The double bind of bad debts and rising interest rates has led to a growing number of sale-and-rent-back property companies targeting overstretched homeowners.
