Buy A House And Rent Back Scheme – Frequently Asked Questions

The following are some of the frequently asked questions for Buy a House and Rent Back Scheme of the rent back company and their response:

Is it too late to sell a house and rent it back if in mortgage arrears? How about if you have an eviction date?
-The rent back company can always help as long as there is enough equity in the property. After contacting them, the rent back company will quickly assess your situation and advise you on the available options for you. Even if you have an eviction date set please get in touch as soon as possible so that the company can still help you avoid a repossession.

How quickly can you sell the property?
-The rent back company can usually complete a sale in 3 to 4 weeks. However,if shorter timescales are required the rent back company can arrange to exchange within 7 - 10 days.

How much will the property sale cost you?
-Nothing. There will be no Estate Agent’s fee, no survey fees and no solicitor’s fees. The rent back company offers are without cost or obligation. The company will pay all your legal fees, and you can use your own solicitor or one recommended by the company.

N.B. If your property is already on the market with an Estate agent please check your contract as some agents might ask you for a commission even if you have not used them for the sale. This is not common, however, and for most people there should be no costs involved.

If you want to sell your house and rent it back. What do the rent back company offer?
-The rent back company offer about 80 per cent - 85 per cent of the market value. The rent back company will buy your property quickly and allow you to rent it straight back for an agreed period of time. The rent that the company will charge you will depend on your affordability but is generally based on the market value rental figure common for your area. A buy back option could be arranged as well along with the rent back.

How long do you have before you decide whether or not you would like to accept the company’s offer?
-The written offer is valid for 1 month. It is possible to accept the offer more than 1 month after the date of the offer, although the rent back company do reserve the right to review the offer in these circumstances.

Rent back company covered all the areas in UK. Also, you as a seller will enjoy the number of benefits they could provide.