Sell house, rent back in your retirement
07-Jan-2008
Retirement is a time for devoting yourself to your hobbies, learning new things and exploring new places. It is also a time when we are likely to live longer and perhaps have less to live on, because of the reduction in state pensions and funding problems with work-related schemes. It's no surprise then, that many retired people choose to sell their homes in order to free-up the capital that's tied up in them.
Sell house & rent back
Many retired people have lived in their homes for many years, and don't want to leave. This creates a dilemma: How can we release the money we need without leaving our home? Equity release schemes have sought to address this problem, but with a limited amount of money released and relatively high rates of repayment imposed, they are not the best solution for everyone. You should always consult an Independent Financial Adviser if you are thinking of using this route.
A recently introduced and increasingly popular option is to sell your house and rent it back. This gives you the best of both worlds – you can release the total value of your home, agree a fair monthly rental with the new buyer and remain in your home as though nothing had happened. Here's what's involved:
• Sell your house – to an independent, professional property company. The company will buy your home directly from you, for cash, for around 70-85% of your property's top market value.
• Rent it back – once you've agreed a price and timescale, you can arrange for a tenancy agreement to be drawn up. You will pay a fair market rent for the type of property you have and the area you live in and you can have the option to extend your tenancy at the end of the initial period.
It's really as easy as that to take part in a "Sell house, rent back" scheme. If you think that this will give you the cash and the flexibility you need for your retirement, give us a call today.
Quick Direct Sale has been established to help you to sell your house & rent back. With no additional fees and a contribution towards your legal fees, we offer a fast, friendly service, and the ideal way to sell your house – no matter what your circumstances. We use surveyors from the Royal Institute of Chartered Surveyors and we don't put any pressure on you to sell. If you'd like to learn more, call our 24 hour phone line on 0800 1956 584 or email info@quick-direct-sale.co.uk.