Sell And Rent Back Advice
Sell And Rent Back Advice
Don’t panic if you’re facing mortgage arrears and need to stop repossession. Home repossessions are one of the most stressful and unpleasant experiences any family can go through. And the governments flagship scheme for hard-up families to help them avoid repossession has only helped a handful of people across the UK
According to recent figures, just 92 families were accepted on the Mortgage Rescue Scheme, despite 11,000 approaching the scheme for help. The question must be asked, what happened to the 10,908 families that were not helped? Unfortunately, some will have already been unable to stop house repossession. A luck few though were successfully helped by private companies offering sell and rent back schemes or quick house sale services..
The Truth Behind Home Repossessions
Critics say the sad reality of thousands of families with chronic mortgage arrears unable to stop house repossession shows the Governments scheme to be a mere drop in the ocean.The Government however claims that over 300,000 families have benefited from their help and advice.
Whatever the reality, the number of homeowners unable to stop home repossessions has risen by 3% in recent months. Currently there are 34 areas in the UK that are most vulnerable to repossession. Levels of unemployment and high numbers of court orders for repossessions have provided clear criteria in recognising those areas most at risk.