Sell And Rent Back Helps Maintain Lifestyles

Recent studies show that the middle classes are aware of the difficult times ahead, with three out of four homes earning over £30,000 saying they will rein in their spending, according to a study by a leading insurance company. Although they may have above average salaries, a sell and rent back scheme may be a consideration for some weighed down by high lifestyle costs. At one point, many could treat their real homes as a cash point, remortgaging and releasing home's equity to fund any shortfalls in income. But now the cost of debt is expensive and remortgages are harder to secure, leaving many households with hard decisions to make as they struggle with debt. It is been estimated up to ninety mortgage deals a day are currently withdrawn. Some may have no choice but to choose sell and rent back scheme.