Donate SIGN UP

Selling Home and Renting it back

Avatar Image
Everhelpful | 15:40 Fri 20th Oct 2006 | Business & Finance
6 Answers

Has anyone had any experience of Selling their Home to a Company and Living there as a Tenant? I appreciate you will get a lower value,but are there any more catches? Many Thanks for any replies.
Gravatar

Answers

1 to 6 of 6rss feed

Best Answer

No best answer has yet been selected by Everhelpful. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
We did it . The process was started in May and concluded August. Our house was valued at �70,000 and we got �53,000. It was an ex council house. We pay �350 a month rent. We are very happy as the mortgage still had 10 years to run(remotgage) and my husband is 62. Northern Rock gave him a 25 year term. After 15 years we still owed them �20,000 and only borrowed �29,000.We went with one where you dont pay fees upfront. I have lived here since being a child and we have been promised life time tenancy.It is a bit scary but our lives are definitely better.
Question Author
Thank you for reply,oldwoman,It has certainly given me food for thought as I don't have a Mortgage as I am 66.. Would I be able to get a No-Obligation qoute?
Oldwoman, what was the company?
www.sell-quick.co.uk You are under no obligation and even when they`ve done the surveys and given you a price you can still pull out.
If you read the site Everhelpful I think you can.
Question Author
Thank you all for your replies.

1 to 6 of 6rss feed

Do you know the answer?

Selling Home and Renting it back

Answer Question >>