If you’re struggling with increased mortgage repayments or drowning in debt, it could be time to opt for a sell house, rent back scheme and re-discover the joys of renting.

As we come to the end of an era of easy credit and cheap debt, it’s time the UK changed its perspective on home ownership and re-assessed the value of renting. More people are turning to a sell house, rent back scheme as a result of the escalating mortgage costs, the increased cost of debt and their inability to obtain cost-effective loans.

For many homeowners who saw their homes as long-term nest eggs, the reality has come as a nasty shock. The housing market is, some analysts believe, set to slump. Owning a home is not necessarily a key to wealth and some properties could even fall into negative equity. A sell house rent back scheme could be a way to avoid the scenario where your property becomes a bigger burden then an asset.

Another reason to opt for a sell house, rent back scheme is to use the money you release from the sale to pay off debts. Renting can work out cheaper then owning a mortgage – especially with the inflated property prices and rise in interest rates. Being able to pay off your expensive debts and still stay in your own home with a sell house rent back scheme is one way of ensuring you have a better quality of life.

In the fifties and sixties, renting homes, TVs, and other lifestyle essentials was commonplace – it’s only recently ownership has become so sought after. But in the long term, ownership is not sustainable. It’s expected that there will be a shift towards renting in the future because of the sustainability angle. In the past, renting was more feasible then buying but the last twenty years of easy credit means the tables turned and it became cheaper to buy and to borrow money. More people however will return to renting and opt for sell house rent back schemes now that interest rates are high, borrowing is expensive and house prices inflated. 

For many renting is an attractive prospect – and the idea that you can even stay in your own home is a bonus – you don’t have to worry about expensive overheads or unplanned bills if the boiler breaks or pipes burst. The sell house, rent back scheme may become a popular alternative for many homeowners who need to free up their finances but don’t want to necessarily leave the family home.

njoy.co.uk is a dedicated website that can help get you the best price for your property from committed cash buyers in your area. We aim to have you a cash offer in principal for your house within 24hrs of you registering your house on njoy.co.uk.

Many of our registered investors can offer you a 'sell and rent back' option, where they will buy your house for an agreed price, and allow you to stay in your property as a tenant. This may enable you to pay off all your debts in one easy stroke by releasing the equity tied up in your home. If you wish to discuss the process then we would be delighted to talk to you at your convenience, our customer service team can always be contacted either by telephone 0845 337 0038 or alternatively you can email your query to: info@njoy.co.uk