Homeowners set for hard time as Interest rates rise again
Homeowners with variable rate mortgages could be set for hard times ahead as interest rates set by the Bank of England have risen again to 5.75%. Homeowners who have fixed rates ending soon could also find it harder to get a good remortgage deal.
Many homeowners could be facing mortgage arrears and financial hardship as monthly outgoings will be increased by the recent rate rise. Repossession will be a problem that many will face as mortgage costs are on the increase.
Estate agents will be asked by many homeowners to sell their property quickly so that they can then pay off debts from the proceeds of the sale. For families that do not want to move home and uproot their lives, this is not the ideal solution.
Rent Back Direct can offer an alternative by purchasing your property quickly and allowing you to stay as a tenant for as long as you like. We offer fixed rent periods and the option for you to buy back the property at pre agreed prices so that you do not have to worry about increases in the rent and can still regain ownership of your home.
To discuss our sell and rent back solutions contact us now. We will be happy to talk you through the various options that we can offer.