Debt in the UK is a problem that is spiralling out of control. Experts say that the average Briton is £33,000 in debt which takes their finances to breaking point. Many will opt for a sell to rent scheme to release equity and cover debts.
A credit culture has a grip on the UK and our combined debt exceeds that of the rest of Western Europe combined. This over-reliance on credit has created a financial gulf which threatens to swallow many homeowners and experts predict that 2008 may well be a record year for insolvencies and repossessions. As a result of these financial predicaments, many homeowners will opt for a sell to rent scheme which will see them releasing the equity tied up in their home, which can be used to pay off debts, and renting back their house from the sell to rent company. This is often seen as the ideal solution as it minimises upheaval and means that the homeowner need not go through the stressful procedure of finding a new home.
Sell To Rent – The Mortgage Ticking Time Bomb
The number of homeowners choosing a sell to rent policy will go up steadily as expects predict that over 1.4m homeowners will come off their cheap, fixed rate, mortgages over the next 12 months. This will lead to an average increase of £140 a month to mortgage bills and, for some who cannot find a suitable deal, they could rise by up to 60%. This will push many people's finances to breaking point and in order to avoid their home being repossessed or declaring bankruptcy, the will choose a sell to rent scheme in order to pay off their debts, satisfy their creditors and continue to live in their own homes.
Sell To Rent – Debt Busting
When it comes to tackling debt, many have found that the equity tied up in their home is a good means with which to satisfy creditors which is why many opt for sell to rent policies. The total personal consumer debt in the UK stands at £1.3 trillion which was based upon an unsustainable spending boom facilitated by easy credit. However, the crunch that is now biting will see repossessions soar and people turn to sell to rent schemes to avoid the spectre of bankruptcy.
Sell to Rent with selltorentltd.co.uk
If you're caught in a financial house-trap, selltorentltd.co.uk can throw you a life-line. Selltorentltd.co.uk offers a sell to rent back scheme for those who like living where they are and want to maintain stability but are facing mortgage arrears, repossession, bankruptcy and debt or concerned financial meltdown is looming. The sell to rent scheme is an alternative to selling up and moving, allowing you to stay put and find financial solutions. Selltorentltd.co.uk will buy your home and allow you to continue living in it as a tenant. Find out more, call Sell to Rent Ltd. today on: 0800 1313 999.