Explained mortgage to rent your property in Scotland

Sell your property then rent it back - find out if it suits - it will cost nothing to enquire!

We can set up a short term rental or long term rental, depending on suits your needs and which you prefer.  Our agreements can allow you to rent the property at market rental rates.

Advantages with Sell and Rent Back

1. Firstly a solution for people with such bad debts can keep their family home without being disturbed.
2. Homeowners can use the cash to settle their existing mortgage and any outstanding debts, while remaining in their own home.
3. Can be conducted quickly and safely with no fees needing to be paid by the client (home owner).
4. No need to tell the neighbours or any other person of the arrangement.
5. In a falling housing market your property market value may be dropping over the next year or so, therefore cash in quick to avoid losing more money.

More often than not, the only other option for the homeowner to do would be to get themselves repossessed as they cannot afford to pay their mounting mortgage debt. They will subsequently lose all the equity they have gained in their property. Indeed, the property will more than likely be sold at auction at much less than the market value anyway.

Most sell-and-rent back companies offer the option for them to remain in their home indefinitely paying a rent that they can afford and we will pay all the legal transaction costs, court fees etc.

Disadvantages with mortgage to rent in Scotland

1. You may not get the maximum price your property is worth.
2. The full market value is not attainable due to the fact the homes can be difficult to sell as the homes tend to be below quality of maintenance.
3. Careful of unscrupulous unregulated mortgage to rent in Scotland companies who are in to try to make a quick profit. Unlike equity release firms, sale and rent back schemes are not regulated by the Financial Services Authority, the financial watchdog
4. The services are unregulated and most offer no security in terms of long term tenancy or rent levels.

Who is mortgage to rent in Scotland is Ideal For?

If you are in the situation of trying to go for a remortgage but with bad debt hanging over you and are already overstretched on a mortgage beyond your means plus you believe you may end up losing the house. You have children to care for mortgage to rent in Scotland may be a viable option.

Our mortgage to rent in Scotland scheme is ideal for people in the following situations:

• Financial Difficulty:

People who find it difficult to keep the mortgage payments for reasons outside their control. It is an ideal way not to have to lose your property if you can't keep up with your mortgage payments. We will offer you a cash price to purchase your property and this means you stay living there as our tenant until you decide to move on.

• Divorce:

The money used for covering the cost of paying off the other partner while one wants to stay in their property the might wants a settlement to move away. This mortgage to rent in Scotland is ideal for this situation allowing the one partner who wants to stay in the property while any proceeds are split. This reduces the inconvenience.

• Emigration:

mortgage to rent in Scotland can be ideal when planning to emigrate. Selling your property at the last minute, and not knowing when it will sell can cause many problems to plans. This arrangement allows you to stay in the property renting and releasing obligations for selling purposes.

What you need to know

In some circumstances it may be possible to live rent free for a certain time - we can arrange this also.

• Things you need to find out before proceeding.
• We need to find out your property value presently
• The average rental amount in your area for your property

Once we have all the necessary information we can structure a package to suit your needs and affordability.  You have no fees or obligation to accept the offer at this stage.  If our figures are agreed we will make arrangements discreetly to visit your property. Once we have seen the property and are happy with it we will confirm our offer.  We will answer any questions you have and make sure you are clear with all the arrangements to be made, we will then send you the necessary paperwork for you to look over and you are under no obligation at this stage to go any further with the mortgage to rent in Scotland .   If you decide to go ahead we will handle all the paperwork, lawyers fees, survey costs etc.  In other words we will pay all fees involved in the mortgage to rent in Scotland .

The sale of your property is typically 1 - 2 months from start to finish.

Always be aware when thinking about mortgage to rent in Scotland on your property

Anyone considering sale and rent back should first check out other options. If they decide to push ahead, it is essential to take great care, check out the company and ask questions about tenancy rights.

But if you are in a serious situation you don't have to go through the process of losing your home, if you are still being chased for money and are now facing bankruptcy, mortgage to rent in Scotland my be the best option for you to stay in your home with no disruption to you or your family.

If you have any questions about our rent back service please contact us