Sell Rent Back Schemes, Reign In The Costs

Research from supermarket Asda says that the average family is £676 a year worse off in July 2008 than they were in July 2007. The squeeze on income is resulting in more people seeking out sell rent back schemes as a potential solution. The figures are due to the fact utility bills and household costs have jumped up to an additional £30 a week compared to costs last year, and a £5 increase in tax means the average family is worse off as most wages only rose by £16 a week in the past year. The Times newspaper reporting these statistics and surveys states that inflation could rise as high as 6.7 per cent in the year to come. Sell rent back schemes are sought after as running a house as well as keeping up with mortgage repayments is becoming unmanageable for many.

Many home owners have put their financial hopes and security into their homes, but sell rent back schemes are increasingly popular as a backlash builds against the extortionate housing market, with some homeowners facing negative equity as the cost of their mortgage outstrips the cost of living.