Sell House Quickly in London with Secure A Sale UK - Sell your home fast

Don’t sell and rent back, sell and move on!

If you’re in a financial bind and need to sell your house quickly, then fast house sales to a cash home buyer could help get you back on track.

Many companies also offer you the option to rent-back your home from them. While this would appear to be the most stress-free option and is hugely advantageous for the new owner (as they often take all the rent upfront and have a guaranteed tenant in the property), it is very rarely in the interest of the seller unless it is only for a very short period of time.

Why is this?

Well, if you can’t afford to pay the mortgage on your home, then you probably won’t be able to afford the rent either as the new owner has to ensure that the costs on their own finance are more than covered.

Most homeowners who are in an equity release situation like this are far better off downsizing and either purchasing or renting a cheaper property elsewhere. This will help to get you back on a stable financial footing. While it is always a hassle to move, making that change sooner rather than later can liberate you from the burden on financial stress and enable you to stop repossession, rebuild and make a fresh start.

If you absolutely have to rent-back your property from the new owner, please ensure that they are a well-capitalised, cash-funded business and research them thoroughly before you take the plunge. This is important as many so-called quick sale, cash for homes experts fail to keep up payments on mortgages they secure on homes they have bought and the property ends up being repossessed by the bank. This leads to the tenant being forced out, often having paid a substantial ‘rent’ upfront to the new owner.

For more advice, please call 020 7117 6001 and ask to speak to one of our directors.